CarParts.com (NASDAQ:PRTS) COO Michael Huffaker Acquires 21,160 Shares of Stock

CarParts.com, Inc. (NASDAQ:PRTS) COO Michael Huffaker bought 21,160 shares of CarParts.com stock in a transaction that occurred on Friday, September 4th. The stock was purchased at an average cost of $9.11 per share, for a total transaction of $192,767.60. Following the acquisition, the chief operating officer owned 81,262 shares of the company’s stock, valued at $740,296.82. This represents a 35.21% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, September 9th, Michael Huffaker purchased 36,580 shares of CarParts.com stock. The stock was purchased at an average price of $9.64 per share, with a total value of $352,631.20.
• On Tuesday, September 8th, Michael Huffaker purchased 21,718 shares of CarParts.com stock. The shares were purchased at an average price of $9.35 per share, with a total value of $203,063.30.
• On Friday, August 28th, Michael Huffaker acquired 7,548 shares of CarParts.com stock. The stock was purchased at an average cost of $7.16 per share, for a total transaction of $54,043.68.
• On Thursday, August 27th, Michael Huffaker acquired 4,614 shares of CarParts.com stock. The stock was purchased at an average price of $6.88 per share, for a total transaction of $31,744.32.

CarParts.com Price Performance

CarParts.com stock opened at $10.00 on Thursday. The stock has a market cap of $80.70 million, a P/E ratio of -2.31 and a beta of 0.71. The company has a fifty day simple moving average of $6.32 and a 200-day simple moving average of $7.04. CarParts.com, Inc. has a 12-month low of $3.72 and a 12-month high of $10.02. 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 posted 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 firm had revenue of $135.64 million for the quarter, compared to analyst estimates of $129.04 million. CarParts.com had a negative return on equity of 47.19% and a negative net margin of 5.35%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of CarParts.com in a research 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 stock. According to MarketBeat, CarParts.com presently has a consensus rating of “Reduce” and a consensus price target of $6.00.

Key Stories Impacting CarParts.com

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

• Positive Sentiment: CEO David Meniane purchased a combined 79,539 shares between September 4 and September 9 for approximately $749,239. The purchases increased his holdings by roughly 36%, bringing his ownership to 299,414 shares. SEC Form 4 filing for CEO purchases
• Positive Sentiment: COO Michael Huffaker bought a combined 79,458 shares for approximately $748,462 over the same period. The purchases increased his holdings by more than 130%, to 139,560 shares. SEC Form 4 filing for COO purchases
• Neutral Sentiment: Combined insider purchases totaled approximately $1.5 million at prices ranging from $9.11 to $9.64 per share. Because the transactions were disclosed in SEC filings and represent direct stock purchases, they are generally viewed more favorably than awards or option exercises, although insider buying does not guarantee improved financial performance.

Institutional Investors Weigh In On CarParts.com

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in CarParts.com by 2.3% in the third quarter. Vanguard Group Inc. now owns 2,554,101 shares of the specialty retailer’s stock valued at $1,816,000 after acquiring an additional 56,857 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of 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 in the last quarter. North Star Investment Management Corp. lifted 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. Renaissance Technologies LLC lifted its holdings in shares of CarParts.com by 2.7% in the 4th quarter. Renaissance Technologies LLC now owns 1,352,700 shares of the specialty retailer’s stock valued at $676,000 after purchasing an additional 35,900 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of CarParts.com by 14.9% in the 4th quarter. Geode Capital Management LLC now owns 649,984 shares of the specialty retailer’s stock valued at $325,000 after purchasing an additional 84,064 shares during the last quarter. 75.30% of the stock is owned by hedge funds and other institutional investors.

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.