Donald Smith & CO. Inc. acquired a new stake in Motorcar Parts of America, Inc. (NASDAQ:MPAA – Free Report) during the second quarter, HoldingsChannel.com reports. The fund acquired 1,237,941 shares of the auto parts company’s stock, valued at approximately $18,965,000. Donald Smith & CO. Inc. owned 0.07% of Motorcar Parts of America at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. BNP Paribas Financial Markets boosted its holdings in shares of Motorcar Parts of America by 2,191.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,887 shares of the auto parts company’s stock worth $32,000 after buying an additional 2,761 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in Motorcar Parts of America in the 4th quarter valued at $63,000. Quarry LP grew its holdings in shares of Motorcar Parts of America by 1,117.9% during the third quarter. Quarry LP now owns 4,214 shares of the auto parts company’s stock valued at $70,000 after buying an additional 3,868 shares during the last quarter. State of Wyoming acquired a new stake in shares of Motorcar Parts of America in the 2nd quarter worth about $74,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Motorcar Parts of America by 7,127.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 8,745 shares of the auto parts company’s stock worth $98,000 after acquiring an additional 8,624 shares during the last quarter. Institutional investors own 83.48% of the company’s stock.
Analyst Ratings Changes
MPAA has been the topic of several recent analyst reports. Raymond James Financial set a $16.00 price objective on Motorcar Parts of America in a research note on Tuesday. Cantor Fitzgerald reiterated an “overweight” rating on shares of Motorcar Parts of America in a research note on Tuesday, June 9th. Wall Street Zen downgraded shares of Motorcar Parts of America from a “strong-buy” rating to a “hold” rating in a report on Saturday, August 15th. Finally, Weiss Ratings lowered Motorcar Parts of America from a “hold (c)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Motorcar Parts of America currently has a consensus rating of “Hold” and a consensus target price of $18.00.
Insiders Place Their Bets
In other Motorcar Parts of America news, SVP Jamie Leigh Cook sold 14,074 shares of the business’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $15.03, for a total value of $211,532.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 8.40% of the stock is owned by corporate insiders.
Motorcar Parts of America Price Performance
Shares of NASDAQ:MPAA opened at $11.95 on Friday. The company’s fifty day moving average price is $13.90 and its 200-day moving average price is $12.11. Motorcar Parts of America, Inc. has a one year low of $9.29 and a one year high of $18.12. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.44 and a quick ratio of 0.39. The firm has a market capitalization of $226.25 million, a price-to-earnings ratio of -38.55 and a beta of 1.16.
Motorcar Parts of America (NASDAQ:MPAA – Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The auto parts company reported ($0.71) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.91). The firm had revenue of $168.02 million for the quarter, compared to the consensus estimate of $183.00 million. Motorcar Parts of America had a negative return on equity of 0.57% and a negative net margin of 0.53%. On average, equities research analysts anticipate that Motorcar Parts of America, Inc. will post 1.27 earnings per share for the current fiscal year.
Motorcar Parts of America Profile
Motorcar Parts of America, Inc is a leading North American designer, manufacturer and distributor of aftermarket automotive replacement parts. The company’s product portfolio spans collision and mechanical components, providing solutions for steering and suspension, brake systems, engine cooling, electrical and drivelines. Through a combination of proprietary brands and exclusive licensing agreements, Motorcar Parts of America offers an extensive selection of both new and remanufactured parts to meet the needs of automotive service professionals and retailers.
In addition to its core collision and under-hood product lines, the company markets specialty items such as performance accessories, tools and equipment.
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