Manatuck Hill Partners LLC Takes Position in Motorcar Parts of America, Inc. $MPAA

Manatuck Hill Partners LLC bought a new position in shares of Motorcar Parts of America, Inc. (NASDAQ:MPAA) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 65,000 shares of the auto parts company’s stock, valued at approximately $996,000.

Several other large investors have also recently added to or reduced their stakes in the business. Osaic Holdings Inc. lifted its holdings in Motorcar Parts of America by 4.1% during the 2nd quarter. Osaic Holdings Inc. now owns 23,712 shares of the auto parts company’s stock worth $266,000 after buying an additional 933 shares in the last quarter. Lazard Asset Management LLC grew its stake in shares of Motorcar Parts of America by 4.5% in the second quarter. Lazard Asset Management LLC now owns 27,805 shares of the auto parts company’s stock worth $311,000 after acquiring an additional 1,191 shares in the last quarter. Barclays PLC grew its stake in shares of Motorcar Parts of America by 6.1% in the fourth quarter. Barclays PLC now owns 20,720 shares of the auto parts company’s stock worth $256,000 after acquiring an additional 1,196 shares in the last quarter. Invesco Ltd. increased its position in shares of Motorcar Parts of America by 5.4% during the second quarter. Invesco Ltd. now owns 39,479 shares of the auto parts company’s stock worth $442,000 after acquiring an additional 2,009 shares during the period. Finally, HRT Financial LP increased its position in shares of Motorcar Parts of America by 14.4% during the fourth quarter. HRT Financial LP now owns 21,347 shares of the auto parts company’s stock worth $263,000 after acquiring an additional 2,679 shares during the period. 83.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MPAA. Weiss Ratings lowered Motorcar Parts of America from a “hold (c)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. Raymond James Financial set a $16.00 price target on Motorcar Parts of America in a report on Tuesday, August 18th. Wall Street Zen lowered Motorcar Parts of America from a “strong-buy” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Motorcar Parts of America in a research note on Tuesday, June 9th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $18.00.

Insider Buying and Selling at Motorcar Parts of America

In other news, SVP Jamie Leigh Cook sold 14,074 shares of the company’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $15.03, for a total value of $211,532.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 8.40% of the company’s stock.

Motorcar Parts of America Stock Performance

NASDAQ:MPAA opened at $11.73 on Wednesday. The firm has a market capitalization of $222.05 million, a PE ratio of -37.84 and a beta of 1.16. The business’s fifty day moving average price is $13.78 and its 200 day moving average price is $12.08. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.44 and a quick ratio of 0.39. Motorcar Parts of America, Inc. has a 12 month low of $9.29 and a 12 month high of $18.12.

Motorcar Parts of America (NASDAQ:MPAA) last announced its quarterly earnings results on Monday, August 10th. The auto parts company reported ($0.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.91). The business had revenue of $168.02 million during the quarter, compared to analyst estimates of $183.00 million. Motorcar Parts of America had a negative net margin of 0.53% and a negative return on equity of 0.57%. On average, sell-side analysts anticipate that Motorcar Parts of America, Inc. will post 1.76 earnings per share for the current fiscal year.

Motorcar Parts of America Company Profile

Motorcar Parts of America, Inc is a leading North American designer, manufacturer and distributor of aftermarket automotive replacement parts. The company’s product portfolio spans collision and mechanical components, providing solutions for steering and suspension, brake systems, engine cooling, electrical and drivelines. Through a combination of proprietary brands and exclusive licensing agreements, Motorcar Parts of America offers an extensive selection of both new and remanufactured parts to meet the needs of automotive service professionals and retailers.

In addition to its core collision and under-hood product lines, the company markets specialty items such as performance accessories, tools and equipment.