Key Points
- CEO David Meniane bought 21,154 CarParts.com shares at an average $9.11, investing approximately $192,713. He has made multiple recent purchases totaling about 79,539 shares and $749,239.
- CarParts.com shares opened at $10.00 and were up 5.3%, near the company’s 12-month high of $10.02. The company recently reported a quarterly loss of $0.43 per share but exceeded revenue and EPS expectations.
- Analysts maintain a cautious outlook, with a consensus rating of “Reduce” and a $6.00 price target, while institutional investors own approximately 75.3% of the stock.
CarParts.com, Inc. (NASDAQ:PRTS - Get Free Report) CEO David Meniane acquired 21,154 shares of CarParts.com stock in a transaction on Friday, September 4th. The shares were bought at an average cost of $9.11 per share, with a total value of $192,712.94. Following the completion of the transaction, the chief executive officer owned 241,029 shares of the company's stock, valued at approximately $2,195,774.19. This trade represents a 9.62% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
David Meniane also recently made the following trade(s):
- On Wednesday, September 9th, David Meniane acquired 36,643 shares of CarParts.com stock. The stock was bought at an average cost of $9.64 per share, for a total transaction of $353,238.52.
- On Tuesday, September 8th, David Meniane bought 21,742 shares of CarParts.com stock. The shares were bought at an average price of $9.35 per share, with a total value of $203,287.70.
- On Friday, August 28th, David Meniane purchased 7,552 shares of CarParts.com stock. The stock was bought at an average price of $7.16 per share, for a total transaction of $54,072.32.
- On Thursday, August 27th, David Meniane purchased 4,612 shares of CarParts.com stock. The stock was bought at an average price of $6.88 per share, for a total transaction of $31,730.56.
CarParts.com Trading Up 5.3%
Shares of PRTS stock opened at $10.00 on Thursday. The firm has a 50 day moving average price of $6.32 and a two-hundred day moving average price of $7.04. 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 company has a market capitalization of $80.70 million, a PE ratio of -2.31 and a beta of 0.71. CarParts.com, Inc. has a 12-month low of $3.72 and a 12-month high of $10.02.
CarParts.com (NASDAQ:PRTS - Get Free Report) last issued 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 return on equity of 47.19% and a negative net margin of 5.35%.The company had revenue of $135.64 million during the quarter, compared to analysts' expectations of $129.04 million.
More 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.
Institutional Investors Weigh In On CarParts.com
A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in CarParts.com by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 2,554,101 shares of the specialty retailer's stock worth $1,816,000 after acquiring an additional 56,857 shares during the period. Mackenzie Financial Corp raised its holdings in CarParts.com by 18.5% in the 4th quarter. Mackenzie Financial Corp now owns 1,779,674 shares of the specialty retailer's stock valued at $880,000 after acquiring an additional 277,807 shares in the last quarter. North Star Investment Management Corp. lifted its position in shares of CarParts.com by 6.3% during the 1st quarter. North Star Investment Management Corp. now owns 1,435,853 shares of the specialty retailer's stock valued at $1,128,000 after acquiring an additional 85,000 shares during the period. Renaissance Technologies LLC grew its holdings in shares of 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 purchasing an additional 35,900 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of CarParts.com by 14.9% during the 4th quarter. Geode Capital Management LLC now owns 649,984 shares of the specialty retailer's stock worth $325,000 after purchasing an additional 84,064 shares in the last quarter. Institutional investors and hedge funds own 75.30% of the company's stock.
Analyst Ratings Changes
Separately, Weiss Ratings reissued 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus price target of $6.00.
View Our Latest Stock Report on PRTS
CarParts.com Company Profile
(
Get Free Report)
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.
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