Insider Buying: CarParts.com (NASDAQ:PRTS) CEO Purchases $353,238.52 in Stock

CarParts.com, Inc. (NASDAQ:PRTS) CEO David Meniane acquired 36,643 shares of the firm’s stock in a transaction dated Wednesday, September 9th. The shares were acquired at an average price of $9.64 per share, for a total transaction of $353,238.52. Following the acquisition, the chief executive officer directly owned 299,414 shares of the company’s stock, valued at approximately $2,886,350.96. The trade was a 13.94% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, September 8th, David Meniane bought 21,742 shares of CarParts.com stock. The stock was acquired at an average price of $9.35 per share, with a total value of $203,287.70.
• On Friday, September 4th, David Meniane bought 21,154 shares of CarParts.com stock. The shares were acquired at an average price of $9.11 per share, for a total transaction of $192,712.94.
• On Friday, August 28th, David Meniane bought 7,552 shares of CarParts.com stock. The shares were acquired at an average price 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 stock was acquired at an average cost of $6.88 per share, for a total transaction of $31,730.56.

CarParts.com Trading Up 5.3%

PRTS traded up $0.50 during midday trading on Wednesday, hitting $10.00. The company’s stock had a trading volume of 132,698 shares, compared to its average volume of 58,581. The company has a current ratio of 1.67, a quick ratio of 0.66 and a debt-to-equity ratio of 0.54. The firm has a market cap of $80.70 million, a P/E ratio of -2.31 and a beta of 0.71. The firm has a 50-day moving average price of $6.24 and a two-hundred day moving average price of $7.02. CarParts.com, Inc. has a 52-week low of $3.72 and a 52-week high of $10.02.

CarParts.com (NASDAQ:PRTS) last announced 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 for the quarter, compared to analyst estimates of $129.04 million. CarParts.com had a negative net margin of 5.35% and a negative return on equity of 47.19%.

Analyst Ratings Changes

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

Institutional Trading of CarParts.com

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Cullen Frost Bankers Inc. acquired a new stake in CarParts.com during the 4th quarter worth approximately $25,000. Jane Street Group LLC acquired a new position in CarParts.com during the second quarter valued at approximately $25,000. Marshall Wace LLP grew its stake in CarParts.com by 345.8% during the second quarter. Marshall Wace LLP now owns 68,546 shares of the specialty retailer’s stock worth $51,000 after buying an additional 53,170 shares during the period. Bank of America Corp DE grew its stake in CarParts.com by 249.6% during the first quarter. Bank of America Corp DE now owns 70,094 shares of the specialty retailer’s stock worth $55,000 after buying an additional 50,045 shares during the period. Finally, Private Management Group Inc. acquired a new position in shares of CarParts.com during the 3rd quarter valued at $65,000. Institutional investors and hedge funds own 75.30% of the company’s stock.

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.