David Meniane Buys 36,643 Shares of CarParts.com (NASDAQ:PRTS) Stock

CarParts.com, Inc. (NASDAQ:PRTS) CEO David Meniane bought 36,643 shares of the business’s stock in a transaction that occurred on Wednesday, September 9th. The shares were bought at an average price of $9.64 per share, with a total value of $353,238.52. Following the transaction, the chief executive officer directly owned 299,414 shares in the company, valued at $2,886,350.96. This trade represents a 13.94% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Thursday, September 10th, David Meniane bought 13,250 shares of CarParts.com stock. The stock was purchased at an average price of $10.06 per share, for a total transaction of $133,295.00.
• On Tuesday, September 8th, David Meniane purchased 21,742 shares of CarParts.com stock. The stock was purchased at an average price of $9.35 per share, for a total transaction of $203,287.70.
• On Friday, September 4th, David Meniane bought 21,154 shares of CarParts.com stock. The stock was acquired at an average cost of $9.11 per share, for a total transaction of $192,712.94.
• On Friday, August 28th, David Meniane acquired 7,552 shares of CarParts.com stock. The stock was acquired at an average cost of $7.16 per share, for a total transaction of $54,072.32.
• On Thursday, August 27th, David Meniane purchased 4,612 shares of CarParts.com stock. The shares were bought at an average price of $6.88 per share, for a total transaction of $31,730.56.

CarParts.com Price Performance

PRTS opened at $8.69 on Friday. The company’s 50 day simple moving average is $6.37 and its 200-day simple moving average is $7.05. CarParts.com, Inc. has a one year low of $3.72 and a one year high of $10.98. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 0.66. The stock has a market capitalization of $70.13 million, a P/E ratio of -2.01 and a beta of 0.71.

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

Key CarParts.com News

Here are the key news stories impacting CarParts.com this week:

• Positive Sentiment: CEO David Meniane purchased 79,539 shares between September 4 and September 9 for approximately $749,239, increasing his holdings to 299,414 shares. The purchases were made at prices ranging from $9.11 to $9.64 per share. SEC filings for CEO purchases
• Positive Sentiment: COO Michael Huffaker also bought 79,458 shares over the same period for approximately $748,462, increasing his position to 139,560 shares. The combined purchases by the CEO and COO totaled roughly $1.5 million and represent direct insider buying rather than stock awards or option exercises. SEC filings for COO purchases
• Neutral Sentiment: Reported short interest was listed at zero shares as of September 10, with a zero-day short-interest ratio. Because the report also shows an undefined percentage change from the prior period, the data appears inconsistent and offers no reliable evidence of either meaningful short selling or short-squeeze potential.
• Negative Sentiment: Analyst sentiment remains cautious: the consensus rating is “Reduce,” based on one Hold and one Sell rating, with a $6.00 average price target. That target is materially below recent trading levels, suggesting analysts view the stock as overvalued despite the insider purchases. MarketBeat PRTS analyst and stock information

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of CarParts.com in a report on Friday, July 17th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $6.00.

Hedge Funds Weigh In On CarParts.com

Large investors have recently bought and sold shares of the company. State Street Corp raised its holdings in shares of CarParts.com by 13.2% in the 4th quarter. State Street Corp now owns 237,938 shares of the specialty retailer’s stock valued at $119,000 after purchasing an additional 27,800 shares during the period. Jane Street Group LLC bought a new position in CarParts.com during the second quarter worth about $25,000. Renaissance Technologies LLC increased its position in CarParts.com by 2.7% during the fourth quarter. Renaissance Technologies LLC now owns 1,352,700 shares of the specialty retailer’s stock worth $676,000 after buying an additional 35,900 shares during the last quarter. Williams & Novak LLC increased its position in CarParts.com by 27.7% during the fourth quarter. Williams & Novak LLC now owns 188,500 shares of the specialty retailer’s stock worth $94,000 after buying an additional 40,900 shares during the last quarter. Finally, Cullen Frost Bankers Inc. bought a new stake in CarParts.com in the fourth quarter valued at approximately $25,000. Institutional investors and hedge funds own 75.30% of the company’s stock.

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.