Insider Buying: CarParts.com (NASDAQ:PRTS) COO Buys $54,043.68 in Stock

CarParts.com, Inc. (NASDAQ:PRTS) COO Michael Huffaker purchased 7,548 shares of the business’s stock in a transaction dated Friday, August 28th. The shares were acquired at an average price of $7.16 per share, for a total transaction of $54,043.68. Following the acquisition, the chief operating officer owned 60,102 shares of the company’s stock, valued at $430,330.32. This trade represents a 14.36% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Thursday, August 27th, Michael Huffaker acquired 4,614 shares of CarParts.com stock. The stock was bought at an average price of $6.88 per share, with a total value of $31,744.32.

CarParts.com Stock Performance

NASDAQ PRTS opened at $7.97 on Thursday. The company has a market capitalization of $64.32 million, a price-to-earnings ratio of -1.84 and a beta of 0.71. The company has a quick ratio of 0.66, a current ratio of 1.67 and a debt-to-equity ratio of 0.54. CarParts.com, Inc. has a twelve month low of $3.72 and a twelve month high of $13.60. The stock has a fifty day simple moving average of $6.02 and a 200 day simple moving average of $6.96.

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

Analyst Ratings Changes

Several analysts recently commented on PRTS shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of CarParts.com in a report on Friday, July 17th. Royal Bank Of Canada boosted their price target on shares of CarParts.com from $5.00 to $6.00 and gave the stock a “sector perform” rating in a research report on Friday, May 8th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $6.00.

Institutional Trading of CarParts.com

Several large investors have recently made changes to their positions in the company. State Street Corp increased its position in CarParts.com by 13.2% in the 4th quarter. State Street Corp now owns 237,938 shares of the specialty retailer’s stock valued at $119,000 after buying an additional 27,800 shares in the last quarter. Jane Street Group LLC bought a new position in CarParts.com in the second quarter worth approximately $25,000. Renaissance Technologies LLC boosted its holdings in CarParts.com by 2.7% in the fourth quarter. Renaissance Technologies LLC now owns 1,352,700 shares of the specialty retailer’s stock worth $676,000 after acquiring an additional 35,900 shares in the last quarter. Williams & Novak LLC grew its stake in CarParts.com by 27.7% in the fourth quarter. Williams & Novak LLC now owns 188,500 shares of the specialty retailer’s stock valued at $94,000 after acquiring an additional 40,900 shares during the period. Finally, Cullen Frost Bankers Inc. acquired a new stake in CarParts.com in the fourth quarter valued at approximately $25,000. 75.30% of the stock is currently owned by institutional investors and hedge funds.

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.