Insider Buying: CarParts.com (NASDAQ:PRTS) CEO Buys $353,238.52 in Stock

CarParts.com, Inc. (NASDAQ:PRTS) CEO David Meniane purchased 36,643 shares of the business’s stock in a transaction on Wednesday, September 9th. The stock was acquired at an average price of $9.64 per share, for a total transaction of $353,238.52. Following the completion of the purchase, the chief executive officer owned 299,414 shares of the company’s stock, valued at $2,886,350.96. This represents a 13.94% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Thursday, September 10th, David Meniane acquired 13,250 shares of CarParts.com stock. The shares were acquired at an average cost of $10.06 per share, with a total value of $133,295.00.
• On Tuesday, September 8th, David Meniane acquired 21,742 shares of CarParts.com stock. The stock was acquired at an average price of $9.35 per share, for a total transaction of $203,287.70.
• On Friday, September 4th, David Meniane bought 21,154 shares of CarParts.com stock. The shares were acquired at an average cost 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 acquired at an average price 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 acquired at an average price of $6.88 per share, with a total value of $31,730.56.

CarParts.com Stock Performance

Shares of CarParts.com stock opened at $9.31 on Friday. The firm has a market capitalization of $75.13 million, a P/E ratio of -2.15 and a beta of 0.71. CarParts.com, Inc. has a 52 week low of $3.72 and a 52 week high of $10.98. 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 firm’s 50 day moving average is $6.43 and its two-hundred day moving average is $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 for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.42. The company had revenue of $135.64 million for the quarter, compared to analysts’ expectations of $129.04 million. CarParts.com had a negative net margin of 5.35% and a negative return on equity of 47.19%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PRTS. Cullen Frost Bankers Inc. acquired a new stake in shares of CarParts.com in the fourth quarter valued at approximately $25,000. Jane Street Group LLC purchased a new position in shares of CarParts.com during the second quarter worth approximately $25,000. Marshall Wace LLP increased its holdings 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 acquiring an additional 53,170 shares during the period. Bank of America Corp DE increased its holdings in shares of 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 valued at $55,000 after acquiring an additional 50,045 shares during the period. Finally, Private Management Group Inc. purchased a new stake in CarParts.com in the 3rd quarter valued at $65,000. Institutional investors and hedge funds own 75.30% of the company’s stock.

Wall Street Analysts Forecast Growth

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 company. According to data from MarketBeat, CarParts.com has an average rating of “Reduce” and an average price target of $6.00.

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.