Insider Buying: CarParts.com (NASDAQ:PRTS) Director Buys 9,900 Shares of Stock

CarParts.com, Inc. (NASDAQ:PRTS) Director Barry Phelps acquired 9,900 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was purchased at an average cost of $6.48 per share, with a total value of $64,152.00. Following the transaction, the director owned 345,788 shares in the company, valued at approximately $2,240,706.24. This trade represents a 2.95% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

Barry Phelps also recently made the following trade(s):

• On Thursday, August 20th, Barry Phelps acquired 100 shares of CarParts.com stock. The shares were purchased at an average price of $6.15 per share, for a total transaction of $615.00.

CarParts.com Price Performance

Shares of PRTS stock remained flat at $6.38 on Wednesday. 92,380 shares of the stock were exchanged, compared to its average volume of 57,906. 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 stock’s 50 day moving average price is $5.91 and its 200-day moving average price is $6.89. The stock has a market capitalization of $51.45 million, a price-to-earnings ratio of -1.47 and a beta of 0.66. CarParts.com, Inc. has a 12 month low of $3.72 and a 12 month high of $13.60.

CarParts.com (NASDAQ:PRTS) last issued its earnings results on Thursday, August 6th. The specialty retailer reported ($0.43) earnings per share (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

PRTS has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of CarParts.com in a research report on Friday, July 17th. Royal Bank Of Canada boosted their target price on CarParts.com from $5.00 to $6.00 and gave the stock a “sector perform” rating in a report on Friday, May 8th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $6.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PRTS. State Street Corp raised its holdings 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 acquiring an additional 27,800 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of CarParts.com by 2.7% during 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 during the period. Geode Capital Management LLC boosted its holdings in shares of CarParts.com by 14.9% during 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 during the period. Citadel Advisors LLC grew its position in shares of CarParts.com by 171.5% in the third quarter. Citadel Advisors LLC now owns 148,771 shares of the specialty retailer’s stock valued at $106,000 after purchasing an additional 93,971 shares during the last quarter. Finally, Private Management Group Inc. bought a new position in shares of CarParts.com during the third quarter worth approximately $65,000. Institutional investors and hedge funds 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.