Insider Buying: CarParts.com (NASDAQ:PRTS) COO Buys $133,295.00 in Stock

CarParts.com, Inc. (NASDAQ:PRTS) COO Michael Huffaker acquired 13,250 shares of the company’s stock in a transaction on Thursday, September 10th. The stock was acquired at an average price of $10.06 per share, for a total transaction of $133,295.00. Following the completion of the purchase, the chief operating officer owned 152,810 shares of the company’s stock, valued at $1,537,268.60. This trade represents a 9.49% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Wednesday, September 9th, Michael Huffaker bought 36,580 shares of CarParts.com stock. The shares were acquired at an average price of $9.64 per share, with a total value of $352,631.20.
• On Tuesday, September 8th, Michael Huffaker purchased 21,718 shares of CarParts.com stock. The shares were bought at an average cost of $9.35 per share, for a total transaction 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 cost of $9.11 per share, with a total value of $192,767.60.
• On Friday, August 28th, Michael Huffaker purchased 7,548 shares of CarParts.com stock. The shares were bought at an average cost 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 purchased at an average price of $6.88 per share, with a total value of $31,744.32.

CarParts.com Stock Performance

Shares of CarParts.com stock traded down $1.31 on Thursday, reaching $8.69. 330,338 shares of the stock were exchanged, compared to its average volume of 47,367. The firm has a market capitalization of $70.13 million, a PE ratio of -2.01 and a beta of 0.71. CarParts.com, Inc. has a 1-year low of $3.72 and a 1-year high of $10.98. The business has a fifty day moving average price of $6.37 and a two-hundred day moving average price of $7.05. The company has a current ratio of 1.67, a quick ratio of 0.66 and a debt-to-equity ratio of 0.54.

CarParts.com (NASDAQ:PRTS) last announced its quarterly earnings data on Thursday, August 6th. The specialty retailer reported ($0.43) EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $135.64 million during the quarter, compared to the consensus estimate of $129.04 million.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of CarParts.com in a report on Friday, July 17th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce” and an average price target of $6.00.

Key Stories Impacting CarParts.com

Here are the key news stories impacting CarParts.com this week:

• Positive Sentiment: CEO David Meniane purchased 79,539 shares between September 4 and September 9 for approximately $749,239, increasing his holdings to 299,414 shares. The purchases were made at prices ranging from $9.11 to $9.64 per share. SEC filings for CEO purchases
• Positive Sentiment: COO Michael Huffaker also bought 79,458 shares over the same period for approximately $748,462, increasing his position to 139,560 shares. The combined purchases by the CEO and COO totaled roughly $1.5 million and represent direct insider buying rather than stock awards or option exercises. SEC filings for COO purchases
• Neutral Sentiment: Reported short interest was listed at zero shares as of September 10, with a zero-day short-interest ratio. Because the report also shows an undefined percentage change from the prior period, the data appears inconsistent and offers no reliable evidence of either meaningful short selling or short-squeeze potential.
• Negative Sentiment: Analyst sentiment remains cautious: the consensus rating is “Reduce,” based on one Hold and one Sell rating, with a $6.00 average price target. That target is materially below recent trading levels, suggesting analysts view the stock as overvalued despite the insider purchases. MarketBeat PRTS analyst and stock information

Hedge Funds Weigh In On CarParts.com

A number of large investors have recently made changes to their positions in the stock. Cullen Frost Bankers Inc. purchased a new stake in CarParts.com during the fourth quarter worth about $25,000. Jane Street Group LLC acquired a new stake in shares of CarParts.com during the 2nd quarter valued at approximately $25,000. Marshall Wace LLP lifted its position in shares of CarParts.com by 345.8% during 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 boosted its stake in shares of CarParts.com by 249.6% during the 1st quarter. Bank of America Corp DE now owns 70,094 shares of the specialty retailer’s stock worth $55,000 after acquiring an additional 50,045 shares in the last quarter. Finally, Private Management Group Inc. purchased a new stake in shares of CarParts.com during the 3rd quarter worth approximately $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.