CarParts.com (NASDAQ:PRTS) CEO David Meniane Buys 4,612 Shares of Stock

CarParts.com, Inc. (NASDAQ:PRTS) CEO David Meniane purchased 4,612 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The shares were purchased at an average price of $6.88 per share, for a total transaction of $31,730.56. Following the completion of the acquisition, the chief executive officer owned 212,323 shares of the company’s stock, valued at $1,460,782.24. The trade was a 2.22% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

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

CarParts.com Trading Down 0.6%

NASDAQ:PRTS opened at $7.23 on Tuesday. CarParts.com, Inc. has a 52 week low of $3.72 and a 52 week high of $13.60. The firm has a 50-day moving average price of $5.96 and a two-hundred day moving average price of $6.94. 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 firm has a market cap of $58.35 million, a price-to-earnings ratio of -1.67 and a beta of 0.66.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PRTS. Mackenzie Financial Corp increased its holdings in CarParts.com by 20.2% in the 3rd quarter. Mackenzie Financial Corp now owns 1,501,867 shares of the specialty retailer’s stock worth $1,068,000 after acquiring an additional 252,852 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of CarParts.com by 2.7% during the 4th quarter. Renaissance Technologies LLC now owns 1,352,700 shares of the specialty retailer’s stock valued at $676,000 after buying an additional 35,900 shares in the last quarter. Geode Capital Management LLC raised its holdings in 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 acquiring an additional 84,064 shares during the period. State Street Corp boosted its holdings in shares of CarParts.com by 13.2% in the fourth quarter. State Street Corp now owns 237,938 shares of the specialty retailer’s stock worth $119,000 after acquiring an additional 27,800 shares during the period. Finally, Citadel Advisors LLC boosted its stake in CarParts.com by 171.5% in the 3rd 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. Hedge funds and other institutional investors own 75.30% of the company’s stock.

Analysts Set New Price Targets

PRTS has been the subject of a number of recent analyst reports. 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 note on Friday, May 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of CarParts.com in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Hold rating and one has assigned 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.

CarParts.com Company Profile

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.