CarParts.com (NASDAQ:PRTS) CEO David Meniane Acquires 4,612 Shares

CarParts.com, Inc. (NASDAQ:PRTS) CEO David Meniane purchased 4,612 shares of CarParts.com stock in a transaction that occurred on Thursday, August 27th. The stock was acquired at an average price of $6.88 per share, with a total value of $31,730.56. Following the transaction, the chief executive officer owned 212,323 shares in the company, valued at $1,460,782.24. The trade was a 2.22% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

David Meniane also recently made the following trade(s):

• On Friday, August 28th, David Meniane purchased 7,552 shares of CarParts.com stock. The shares were acquired at an average price of $7.16 per share, with a total value of $54,072.32.

CarParts.com Stock Performance

CarParts.com stock traded down $0.04 during midday trading on Monday, hitting $7.23. 6,004 shares of the company’s stock were exchanged, compared to its average volume of 57,594. CarParts.com, Inc. has a 12-month low of $3.72 and a 12-month high of $13.60. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.66 and a current ratio of 1.67. 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 firm’s 50 day simple moving average is $5.94 and its 200 day simple moving average is $6.93.

CarParts.com (NASDAQ:PRTS) last announced its earnings results on Thursday, August 6th. The specialty retailer reported ($0.43) 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 business had revenue of $135.64 million during the quarter, compared to analysts’ expectations of $129.04 million.

Institutional Trading of CarParts.com

Hedge funds have recently made changes to their positions in the company. Marshall Wace LLP raised its position in shares of CarParts.com by 345.8% during the 2nd quarter. Marshall Wace LLP now owns 68,546 shares of the specialty retailer’s stock worth $51,000 after purchasing an additional 53,170 shares during the period. Jane Street Group LLC acquired a new position in CarParts.com during the 2nd quarter valued at approximately $25,000. Vanguard Group Inc. grew its stake in CarParts.com by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 2,554,101 shares of the specialty retailer’s stock worth $1,816,000 after buying an additional 56,857 shares during the last quarter. Mackenzie Financial Corp lifted its stake in CarParts.com by 20.2% in the third quarter. Mackenzie Financial Corp now owns 1,501,867 shares of the specialty retailer’s stock valued at $1,068,000 after buying an additional 252,852 shares during the last quarter. Finally, Private Management Group Inc. bought a new stake in CarParts.com in the third quarter valued at $65,000. Hedge funds and other institutional investors own 75.30% of the company’s stock.

Analysts Set New Price Targets

PRTS has been the topic of a number of analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of CarParts.com in a report on Friday, July 17th. Royal Bank Of Canada upped 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.com, the company currently 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.