CarParts.com (NASDAQ:PRTS) COO Michael Huffaker Purchases 7,548 Shares

CarParts.com, Inc. (NASDAQ:PRTS) COO Michael Huffaker purchased 7,548 shares of CarParts.com stock in a transaction dated Friday, August 28th. The stock was acquired at an average cost of $7.16 per share, with a total value of $54,043.68. Following the completion of the acquisition, the chief operating officer directly owned 60,102 shares in the company, valued at approximately $430,330.32. This trade represents a 14.36% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Michael Huffaker also recently made the following trade(s):

• On Thursday, August 27th, Michael Huffaker acquired 4,614 shares of CarParts.com stock. The shares were bought at an average cost of $6.88 per share, for a total transaction of $31,744.32.

CarParts.com Price Performance

Shares of PRTS stock traded down $0.04 during trading hours on Monday, hitting $7.23. The company’s stock had a trading volume of 6,004 shares, compared to its average volume of 57,594. The business has a fifty day moving average of $5.94 and a 200-day moving average of $6.93. CarParts.com, Inc. has a twelve month low of $3.72 and a twelve month high of $13.60. The stock has a market cap of $58.35 million, a price-to-earnings ratio of -1.67 and a beta of 0.66. The company has a current ratio of 1.67, a quick ratio of 0.66 and a debt-to-equity ratio of 0.54.

CarParts.com (NASDAQ:PRTS) last released its earnings results on Thursday, August 6th. The specialty retailer reported ($0.43) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.42. CarParts.com had a negative net margin of 5.35% and a negative return on equity of 47.19%. The company had revenue of $135.64 million for the quarter, compared to analyst estimates of $129.04 million.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Mackenzie Financial Corp increased its position in CarParts.com by 18.5% during the fourth quarter. Mackenzie Financial Corp now owns 1,779,674 shares of the specialty retailer’s stock worth $880,000 after purchasing an additional 277,807 shares during the last quarter. Citadel Advisors LLC raised its stake in CarParts.com by 171.5% during the third quarter. Citadel Advisors LLC now owns 148,771 shares of the specialty retailer’s stock worth $106,000 after purchasing an additional 93,971 shares during the period. Private Management Group Inc. acquired a new position in shares of CarParts.com in the 3rd quarter valued at $65,000. North Star Investment Management Corp. boosted its holdings in shares of CarParts.com by 6.3% in the 1st quarter. North Star Investment Management Corp. now owns 1,435,853 shares of the specialty retailer’s stock valued at $1,128,000 after purchasing an additional 85,000 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of CarParts.com by 14.9% during the 4th quarter. Geode Capital Management LLC now owns 649,984 shares of the specialty retailer’s stock valued at $325,000 after buying an additional 84,064 shares during the period. 75.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on PRTS shares. Weiss Ratings reissued a “sell (e+)” rating on shares of CarParts.com in a research note on Friday, July 17th. Royal Bank Of Canada lifted their price objective on CarParts.com from $5.00 to $6.00 and gave the company a “sector perform” rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $6.00.

About CarParts.com

CarParts.com, Inc operates as a leading online retailer of aftermarket automotive parts and accessories in the United States. Through its flagship website CarParts.com and affiliated e-commerce platforms, the company offers replacement components, performance upgrades, maintenance items and collision repair parts for a wide range of domestic and import vehicles. Its product catalog includes engine parts, exterior and interior accessories, lighting, braking systems and powertrain components, supported by an extensive inventory and proprietary order management system.

Founded in 1995 by George Chamoun and headquartered in Torrance, California, CarParts.com has grown from a regional auto parts supplier into a national e-commerce platform.