CarParts.com (NASDAQ:PRTS) COO Michael Huffaker Purchases 21,718 Shares of Stock

CarParts.com, Inc. (NASDAQ:PRTS) COO Michael Huffaker acquired 21,718 shares of CarParts.com stock in a transaction dated Tuesday, September 8th. The shares were acquired at an average price of $9.35 per share, with a total value of $203,063.30. Following the completion of the transaction, the chief operating officer owned 102,980 shares of the company’s stock, valued at approximately $962,863. This trade represents a 26.73% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

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

CarParts.com Trading Up 5.3%

Shares of CarParts.com stock opened at $10.00 on Thursday. The company has a quick ratio of 0.66, a current ratio of 1.67 and a debt-to-equity ratio of 0.54. The business has a fifty day simple moving average of $6.32 and a 200-day simple moving average of $7.04. CarParts.com, Inc. has a fifty-two week low of $3.72 and a fifty-two week high of $10.02. The firm has a market cap of $80.70 million, a price-to-earnings ratio of -2.31 and a beta of 0.71.

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

Hedge Funds Weigh In On CarParts.com

Several institutional investors and hedge funds have recently added to or reduced their stakes in PRTS. Marshall Wace LLP raised its stake in CarParts.com by 345.8% during the 2nd quarter. Marshall Wace LLP now owns 68,546 shares of the specialty retailer’s stock valued at $51,000 after purchasing an additional 53,170 shares during the period. Jane Street Group LLC acquired a new stake in shares of CarParts.com in the second quarter worth $25,000. Vanguard Group Inc. boosted its position in shares of CarParts.com by 2.3% in the third quarter. Vanguard Group Inc. now owns 2,554,101 shares of the specialty retailer’s stock worth $1,816,000 after buying an additional 56,857 shares during the period. Mackenzie Financial Corp grew its holdings in shares of CarParts.com by 20.2% during the third quarter. Mackenzie Financial Corp now owns 1,501,867 shares of the specialty retailer’s stock valued at $1,068,000 after buying an additional 252,852 shares in the last quarter. Finally, Private Management Group Inc. purchased a new position in shares of CarParts.com during the third quarter valued at $65,000. 75.30% of the stock is currently owned by hedge funds and other institutional investors.

Key CarParts.com News

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

• Positive Sentiment: CEO David Meniane purchased a combined 79,539 shares between September 4 and September 9 for approximately $749,239. The purchases increased his holdings by roughly 36%, bringing his ownership to 299,414 shares. SEC Form 4 filing for CEO purchases
• Positive Sentiment: COO Michael Huffaker bought a combined 79,458 shares for approximately $748,462 over the same period. The purchases increased his holdings by more than 130%, to 139,560 shares. SEC Form 4 filing for COO purchases
• Neutral Sentiment: Combined insider purchases totaled approximately $1.5 million at prices ranging from $9.11 to $9.64 per share. Because the transactions were disclosed in SEC filings and represent direct stock purchases, they are generally viewed more favorably than awards or option exercises, although insider buying does not guarantee improved financial performance.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of CarParts.com in a research report on Friday, July 17th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $6.00.

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.