Insider Buying: CarParts.com (NASDAQ:PRTS) COO Acquires $203,063.30 in Stock

CarParts.com, Inc. (NASDAQ:PRTS) COO Michael Huffaker purchased 21,718 shares of the stock in a transaction on Tuesday, September 8th. The shares were acquired at an average cost of $9.35 per share, for a total transaction of $203,063.30. Following the transaction, the chief operating officer owned 102,980 shares of the company’s stock, valued at approximately $962,863. The trade was a 26.73% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Wednesday, September 9th, Michael Huffaker purchased 36,580 shares of CarParts.com stock. The stock was bought at an average price of $9.64 per share, for a total transaction of $352,631.20.
• On Friday, September 4th, Michael Huffaker acquired 21,160 shares of CarParts.com stock. The shares were purchased at an average price of $9.11 per share, for a total transaction of $192,767.60.
• On Friday, August 28th, Michael Huffaker acquired 7,548 shares of CarParts.com stock. The stock was acquired at an average price of $7.16 per share, with a total value of $54,043.68.
• On Thursday, August 27th, Michael Huffaker purchased 4,614 shares of CarParts.com stock. The stock was acquired at an average price of $6.88 per share, with a total value of $31,744.32.

CarParts.com Price Performance

PRTS traded up $0.50 on Wednesday, hitting $10.00. 132,698 shares of the stock were exchanged, compared to its average volume of 58,581. The business has a 50-day moving average of $6.24 and a two-hundred day moving average of $7.02. The firm has a market capitalization of $80.70 million, a price-to-earnings ratio of -2.31 and a beta of 0.71. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 0.66. CarParts.com, Inc. has a 12 month low of $3.72 and a 12 month high of $10.02.

CarParts.com (NASDAQ:PRTS) last announced its quarterly earnings data on Thursday, August 6th. The specialty retailer reported ($0.43) EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $129.04 million.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PRTS. Mackenzie Financial Corp grew its position in CarParts.com by 18.5% during the fourth quarter. Mackenzie Financial Corp now owns 1,779,674 shares of the specialty retailer’s stock worth $880,000 after buying an additional 277,807 shares in the last quarter. Citadel Advisors LLC lifted 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 worth $106,000 after acquiring an additional 93,971 shares during the last quarter. Private Management Group Inc. purchased a new position in CarParts.com in the third quarter worth $65,000. North Star Investment Management Corp. grew its position in CarParts.com by 6.3% in the first quarter. North Star Investment Management Corp. now owns 1,435,853 shares of the specialty retailer’s stock worth $1,128,000 after acquiring an additional 85,000 shares in the last quarter. Finally, Geode Capital Management LLC grew its position 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 acquiring an additional 84,064 shares in the last quarter. 75.30% of the stock is owned by institutional investors.

About CarParts.com

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.