Insider Buying: CarParts.com (NASDAQ:PRTS) COO Purchases 21,160 Shares of Stock

CarParts.com, Inc. (NASDAQ:PRTS) COO Michael Huffaker purchased 21,160 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The stock was bought at an average cost of $9.11 per share, for a total transaction of $192,767.60. Following the completion of the acquisition, the chief operating officer directly owned 81,262 shares of the company’s stock, valued at $740,296.82. This represents a 35.21% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Wednesday, September 9th, Michael Huffaker acquired 36,580 shares of CarParts.com stock. The shares were bought at an average cost of $9.64 per share, with a total value of $352,631.20.
• On Tuesday, September 8th, Michael Huffaker bought 21,718 shares of CarParts.com stock. The stock was bought at an average price of $9.35 per share, for a total transaction of $203,063.30.
• On Friday, August 28th, Michael Huffaker purchased 7,548 shares of CarParts.com stock. The stock was purchased at an average price of $7.16 per share, with a total value of $54,043.68.
• On Thursday, August 27th, Michael Huffaker acquired 4,614 shares of CarParts.com stock. The shares were purchased at an average price of $6.88 per share, for a total transaction of $31,744.32.

CarParts.com Stock Performance

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

CarParts.com (NASDAQ:PRTS) last released its quarterly earnings data on Thursday, August 6th. The specialty retailer reported ($0.43) EPS for the quarter, topping 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 firm had revenue of $135.64 million during the quarter, compared to the consensus estimate of $129.04 million.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On CarParts.com

Large investors have recently made changes to their positions in the company. Bank of America Corp DE grew its stake in shares of 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 valued at $55,000 after purchasing an additional 50,045 shares during the last quarter. North Star Investment Management Corp. raised its position in shares of CarParts.com by 6.3% during 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 purchasing an additional 85,000 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of CarParts.com by 18.5% in the fourth quarter. Mackenzie Financial Corp now owns 1,779,674 shares of the specialty retailer’s stock valued at $880,000 after buying an additional 277,807 shares during the period. State Street Corp lifted its holdings in shares of CarParts.com by 13.2% in the fourth quarter. State Street Corp now owns 237,938 shares of the specialty retailer’s stock valued at $119,000 after purchasing an additional 27,800 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in CarParts.com by 2.7% during the 4th 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 during the last quarter. Institutional investors 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.