Donald Smith & CO. Inc. Invests $18.96 Million in Motorcar Parts of America, Inc. $MPAA

Donald Smith & CO. Inc. acquired a new position in shares of Motorcar Parts of America, Inc. (NASDAQ:MPAA) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,237,941 shares of the auto parts company’s stock, valued at approximately $18,965,000. Donald Smith & CO. Inc. owned about 6.54% of Motorcar Parts of America as of its most recent SEC filing.

Several other large investors have also bought and sold shares of MPAA. Dimensional Fund Advisors LP grew its position in Motorcar Parts of America by 5.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,133,796 shares of the auto parts company’s stock valued at $12,540,000 after acquiring an additional 57,191 shares during the last quarter. BlackRock Inc. bought a new position in shares of Motorcar Parts of America in the second quarter worth about $16,152,000. Pacific Ridge Capital Partners LLC lifted its holdings in shares of Motorcar Parts of America by 3.5% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 692,502 shares of the auto parts company’s stock worth $8,545,000 after acquiring an additional 23,221 shares during the last quarter. Azarias Capital Management L.P. boosted its stake in shares of Motorcar Parts of America by 146.2% in the 1st quarter. Azarias Capital Management L.P. now owns 532,869 shares of the auto parts company’s stock valued at $5,894,000 after purchasing an additional 316,461 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of Motorcar Parts of America by 96.6% in the 2nd quarter. Marshall Wace LLP now owns 505,955 shares of the auto parts company’s stock valued at $5,667,000 after purchasing an additional 248,637 shares in the last quarter. 83.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Motorcar Parts of America news, SVP Jamie Leigh Cook sold 14,074 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $15.03, for a total transaction of $211,532.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.40% of the stock is owned by insiders.

Motorcar Parts of America Stock Performance

Shares of MPAA stock opened at $11.95 on Friday. The firm has a market capitalization of $226.25 million, a price-to-earnings ratio of -38.55 and a beta of 1.16. The company has a current ratio of 1.44, a quick ratio of 0.39 and a debt-to-equity ratio of 0.18. The business’s 50-day moving average price is $13.90 and its 200-day moving average price is $12.11. 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 released its quarterly earnings data on Monday, August 10th. The auto parts company reported ($0.71) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.91). The firm 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%. Equities research analysts forecast that Motorcar Parts of America, Inc. will post 1.27 EPS for the current year.

Motorcar Parts of America 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.