David Meniane Buys 7,552 Shares of CarParts.com (NASDAQ:PRTS) Stock

CarParts.com, Inc. (NASDAQ:PRTS) CEO David Meniane purchased 7,552 shares of the stock in a transaction on Friday, August 28th. The stock was acquired at an average cost of $7.16 per share, for a total transaction of $54,072.32. Following the acquisition, the chief executive officer owned 219,875 shares in the company, valued at approximately $1,574,305. This represents a 3.56% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through this link.

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

• On Thursday, August 27th, David Meniane acquired 4,612 shares of CarParts.com stock. The shares were acquired at an average cost of $6.88 per share, with a total value of $31,730.56.

CarParts.com Stock Up 3.5%

Shares of NASDAQ PRTS opened at $7.48 on Wednesday. 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 business has a 50-day moving average of $5.99 and a 200-day moving average of $6.95. The firm has a market capitalization of $60.36 million, a price-to-earnings ratio of -1.73 and a beta of 0.71. CarParts.com, Inc. has a 12 month low of $3.72 and a 12 month high of $13.60.

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

CarParts.com News Roundup

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

• Positive Sentiment: CEO David Meniane bought 4,612 shares at $6.88 on August 27 and another 7,552 shares at $7.16 on August 28, investing approximately $85,803 in total. His ownership increased by roughly 5.9%. CarParts.com CEO Acquires 4,612 Shares
• Positive Sentiment: COO Michael Huffaker also purchased 4,614 shares at $6.88 and 7,548 shares at $7.16, investing approximately $85,788 and increasing his position by more than 25% across the two transactions. The coordinated buying by the CEO and COO may reinforce investor confidence in management’s outlook. CarParts.com Insider Purchases
• Neutral Sentiment: CarParts.com’s latest quarterly results exceeded expectations: revenue was $135.64 million versus the $129.04 million consensus estimate, while its $0.43 adjusted loss per share was narrower than the expected $0.85 loss. The company nevertheless remains unprofitable, with a negative net margin and return on equity.
• Negative Sentiment: Analyst coverage remains unfavorable. CarParts.com has a consensus “Reduce” rating, an average price target of $6.00, and ratings of Hold and Sell from the two tracked analysts. Weiss Ratings also reaffirmed a Sell rating. CarParts.com Analysis

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of CarParts.com in a research report on Friday, July 17th. Royal Bank Of Canada raised their price target on CarParts.com from $5.00 to $6.00 and gave the company a “sector perform” rating in a research report on Friday, May 8th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $6.00.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Mackenzie Financial Corp lifted 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 worth $880,000 after acquiring an additional 277,807 shares during the last quarter. Citadel Advisors LLC grew its holdings in shares of CarParts.com by 171.5% during 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. purchased a new position in CarParts.com in the 3rd quarter worth $65,000. North Star Investment Management Corp. raised its position in 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 worth $1,128,000 after purchasing an additional 85,000 shares during the period. Finally, Geode Capital Management LLC lifted its stake in CarParts.com by 14.9% in the fourth 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 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.