CarParts.com (NASDAQ:PRTS) COO Michael Huffaker Buys 36,580 Shares

CarParts.com, Inc. (NASDAQ:PRTS) COO Michael Huffaker purchased 36,580 shares of the company’s stock in a transaction dated Wednesday, September 9th. The shares were bought at an average price of $9.64 per share, for a total transaction of $352,631.20. Following the completion of the transaction, the chief operating officer directly owned 139,560 shares in the company, valued at approximately $1,345,358.40. This trade represents a 35.52% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, September 8th, Michael Huffaker acquired 21,718 shares of CarParts.com stock. The shares were bought at an average price of $9.35 per share, with a total value of $203,063.30.
• On Friday, September 4th, Michael Huffaker acquired 21,160 shares of CarParts.com stock. The shares were bought at an average price of $9.11 per share, with a total value of $192,767.60.
• On Friday, August 28th, Michael Huffaker acquired 7,548 shares of CarParts.com stock. The shares were bought at an average price of $7.16 per share, with a total value of $54,043.68.
• On Thursday, August 27th, Michael Huffaker bought 4,614 shares of CarParts.com stock. The stock was bought at an average cost of $6.88 per share, for a total transaction of $31,744.32.

CarParts.com Stock Performance

PRTS stock opened at $10.00 on Thursday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.66 and a current ratio of 1.67. The stock has a market capitalization of $80.70 million, a price-to-earnings ratio of -2.31 and a beta of 0.71. CarParts.com, Inc. has a 1 year low of $3.72 and a 1 year high of $10.02. The stock’s fifty day moving average is $6.32 and its two-hundred day moving average is $7.04.

CarParts.com (NASDAQ:PRTS) last released its quarterly earnings results on Thursday, August 6th. The specialty retailer reported ($0.43) EPS for the quarter, topping 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 analyst estimates of $129.04 million.

Analysts Set New Price Targets

Separately, Weiss Ratings restated 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 assigned a Sell rating to the company. Based on data from MarketBeat, CarParts.com currently has an average rating of “Reduce” and a consensus price target of $6.00.

Institutional Trading of CarParts.com

Several hedge funds have recently added to or reduced their stakes in PRTS. Mackenzie Financial Corp raised its stake in shares of CarParts.com by 18.5% in the 4th quarter. Mackenzie Financial Corp now owns 1,779,674 shares of the specialty retailer’s stock worth $880,000 after buying an additional 277,807 shares in the last quarter. Citadel Advisors LLC lifted its holdings 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 buying an additional 93,971 shares during the period. Private Management Group Inc. bought a new position in CarParts.com during the third quarter valued at about $65,000. North Star Investment Management Corp. boosted its stake in CarParts.com by 6.3% during the first quarter. North Star Investment Management Corp. now owns 1,435,853 shares of the specialty retailer’s stock valued at $1,128,000 after buying an additional 85,000 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in CarParts.com by 14.9% during the fourth quarter. Geode Capital Management LLC now owns 649,984 shares of the specialty retailer’s stock valued at $325,000 after buying an additional 84,064 shares in the last quarter. Institutional investors own 75.30% of the company’s stock.

CarParts.com News Roundup

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.

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.