David Meniane Acquires 21,154 Shares of CarParts.com (NASDAQ:PRTS) Stock

CarParts.com, Inc. (NASDAQ:PRTS) CEO David Meniane bought 21,154 shares of the stock in a transaction dated Friday, September 4th. The shares were purchased at an average cost of $9.11 per share, for a total transaction of $192,712.94. Following the completion of the purchase, the chief executive officer owned 241,029 shares in the company, valued at approximately $2,195,774.19. This represents a 9.62% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

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

CarParts.com Trading Up 5.3%

CarParts.com stock traded up $0.50 during trading on Wednesday, hitting $10.00. The company had a trading volume of 132,698 shares, compared to its average volume of 58,581. CarParts.com, Inc. has a 1-year low of $3.72 and a 1-year high of $10.02. 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’s 50 day simple moving average is $6.24 and its 200-day simple moving average is $7.02. The stock 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 posted its quarterly earnings data 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 return on equity of 47.19% and a negative net margin of 5.35%.The firm had revenue of $135.64 million for the quarter, compared to the consensus estimate of $129.04 million.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of CarParts.com in a research 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. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $6.00.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PRTS. Marshall Wace LLP increased its position in shares of CarParts.com by 345.8% in 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 last quarter. Jane Street Group LLC acquired a new stake in shares of CarParts.com in the 2nd quarter valued at $25,000. Vanguard Group Inc. lifted its position in shares of 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 purchasing an additional 56,857 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of CarParts.com by 20.2% during the 3rd quarter. Mackenzie Financial Corp now owns 1,501,867 shares of the specialty retailer’s stock worth $1,068,000 after purchasing an additional 252,852 shares during the last quarter. Finally, Private Management Group Inc. acquired a new position in shares of CarParts.com during the third quarter worth $65,000. Hedge funds and other 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.