David Meniane Purchases 13,250 Shares of CarParts.com (NASDAQ:PRTS) Stock

CarParts.com, Inc. (NASDAQ:PRTS) CEO David Meniane purchased 13,250 shares of the business’s stock in a transaction on Thursday, September 10th. The shares were acquired at an average price of $10.06 per share, for a total transaction of $133,295.00. Following the completion of the acquisition, the chief executive officer directly owned 312,664 shares in the company, valued at approximately $3,145,399.84. This represents a 4.43% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Wednesday, September 9th, David Meniane acquired 36,643 shares of CarParts.com stock. The shares were bought at an average cost of $9.64 per share, with a total value of $353,238.52.
• On Tuesday, September 8th, David Meniane acquired 21,742 shares of CarParts.com stock. The stock was bought at an average price of $9.35 per share, with a total value of $203,287.70.
• On Friday, September 4th, David Meniane bought 21,154 shares of CarParts.com stock. The shares were bought at an average price of $9.11 per share, for a total transaction of $192,712.94.
• On Friday, August 28th, David Meniane bought 7,552 shares of CarParts.com stock. The shares were bought at an average cost of $7.16 per share, for a total transaction of $54,072.32.
• On Thursday, August 27th, David Meniane bought 4,612 shares of CarParts.com stock. The shares were bought at an average cost of $6.88 per share, for a total transaction of $31,730.56.

CarParts.com Trading Up 7.1%

PRTS opened at $9.31 on Friday. CarParts.com, Inc. has a 1-year low of $3.72 and a 1-year high of $10.98. 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 company has a market cap of $75.13 million, a P/E ratio of -2.15 and a beta of 0.71. The company has a fifty day moving average price of $6.43 and a two-hundred day moving average price of $7.07.

CarParts.com (NASDAQ:PRTS) last released its quarterly earnings data on Thursday, August 6th. The specialty retailer reported ($0.43) earnings per share (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 company had revenue of $135.64 million for the quarter, compared to analysts’ expectations of $129.04 million.

Wall Street Analyst Weigh In

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

Institutional Trading of CarParts.com

Several institutional investors and hedge funds have recently made changes to their positions in PRTS. Cullen Frost Bankers Inc. bought a new position in shares of CarParts.com during the fourth quarter valued at about $25,000. Jane Street Group LLC purchased a new position in CarParts.com during the second quarter worth about $25,000. Marshall Wace LLP grew its position in CarParts.com by 345.8% in the 2nd quarter. Marshall Wace LLP now owns 68,546 shares of the specialty retailer’s stock worth $51,000 after purchasing an additional 53,170 shares in the last quarter. Bank of America Corp DE grew its position in CarParts.com by 249.6% in the 1st quarter. Bank of America Corp DE now owns 70,094 shares of the specialty retailer’s stock worth $55,000 after purchasing an additional 50,045 shares in the last quarter. Finally, Private Management Group Inc. purchased a new stake in CarParts.com in the 3rd quarter valued at about $65,000. Hedge funds and other institutional investors own 75.30% of the company’s stock.

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.