David Meniane Purchases 21,154 Shares of CarParts.com (NASDAQ:PRTS) Stock

CarParts.com, Inc. (NASDAQ:PRTS) CEO David Meniane acquired 21,154 shares of the stock in a transaction dated Friday, September 4th. The shares were acquired at an average cost of $9.11 per share, with a total value of $192,712.94. Following the completion of the transaction, the chief executive officer owned 241,029 shares in the company, valued at approximately $2,195,774.19. This represents a 9.62% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Wednesday, September 9th, David Meniane bought 36,643 shares of CarParts.com stock. The shares were acquired at an average cost of $9.64 per share, for a total transaction of $353,238.52.
• On Tuesday, September 8th, David Meniane bought 21,742 shares of CarParts.com stock. The shares were acquired at an average price of $9.35 per share, with a total value of $203,287.70.
• On Friday, August 28th, David Meniane purchased 7,552 shares of CarParts.com stock. The stock was acquired at an average cost of $7.16 per share, with a total value of $54,072.32.
• On Thursday, August 27th, David Meniane purchased 4,612 shares of CarParts.com stock. The stock was bought at an average price of $6.88 per share, for a total transaction of $31,730.56.

CarParts.com Stock Up 5.3%

CarParts.com stock traded up $0.50 during mid-day trading on Wednesday, hitting $10.00. The company had a trading volume of 132,698 shares, compared to its average volume of 58,581. The company has a quick ratio of 0.66, a current ratio of 1.67 and a debt-to-equity ratio of 0.54. CarParts.com, Inc. has a 1 year low of $3.72 and a 1 year high of $10.02. The business has a fifty day moving average of $6.24 and a 200 day moving average of $7.02. The stock has a market cap of $80.70 million, a price-to-earnings ratio of -2.31 and a beta of 0.71.

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

Hedge Funds Weigh In On CarParts.com

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of CarParts.com in a research note on Friday, July 17th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, CarParts.com presently has a consensus rating of “Reduce” and a consensus price target 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.