CarParts.com (NASDAQ:PRTS) CEO David Meniane Purchases 36,643 Shares

CarParts.com, Inc. (NASDAQ:PRTSGet Free Report) CEO David Meniane purchased 36,643 shares of CarParts.com stock in a transaction that occurred on Wednesday, September 9th. The shares were bought at an average price of $9.64 per share, with a total value of $353,238.52. Following the transaction, the chief executive officer owned 299,414 shares of the company’s stock, valued at $2,886,350.96. This trade represents a 13.94% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

  • On Tuesday, September 8th, David Meniane acquired 21,742 shares of CarParts.com stock. The shares were bought at an average price of $9.35 per share, with a total value of $203,287.70.
  • On Friday, September 4th, David Meniane acquired 21,154 shares of CarParts.com stock. The stock was bought 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 stock was bought at an average price of $7.16 per share, for a total transaction 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%

Shares of PRTS stock opened at $10.00 on Thursday. 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 has a market cap of $80.70 million, a P/E ratio of -2.31 and a beta of 0.71. The company has a 50 day moving average of $6.32 and a 200-day moving average of $7.04. CarParts.com, Inc. has a 12-month low of $3.72 and a 12-month high of $10.02.

CarParts.com (NASDAQ:PRTSGet Free Report) last announced its quarterly earnings data on Thursday, August 6th. The specialty retailer reported ($0.43) earnings per share 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 business had revenue of $135.64 million during the quarter, compared to analyst estimates of $129.04 million.

Institutional Investors Weigh In On CarParts.com

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in CarParts.com by 2.3% during the third quarter. Vanguard Group Inc. now owns 2,554,101 shares of the specialty retailer’s stock worth $1,816,000 after buying an additional 56,857 shares in the last quarter. Mackenzie Financial Corp raised its holdings 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 valued at $880,000 after acquiring an additional 277,807 shares in the last quarter. North Star Investment Management Corp. boosted its position in shares of CarParts.com by 6.3% during the 1st quarter. North Star Investment Management Corp. now owns 1,435,853 shares of the specialty retailer’s stock valued at $1,128,000 after acquiring an additional 85,000 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of CarParts.com by 2.7% during the 4th quarter. Renaissance Technologies LLC now owns 1,352,700 shares of the specialty retailer’s stock valued at $676,000 after acquiring an additional 35,900 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of CarParts.com by 14.9% during the fourth quarter. Geode Capital Management LLC now owns 649,984 shares of the specialty retailer’s stock worth $325,000 after purchasing an additional 84,064 shares in the last quarter. Hedge funds and other institutional investors own 75.30% of the company’s stock.

Trending Headlines about CarParts.com

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.

Analyst Upgrades and Downgrades

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

View Our Latest Report on PRTS

About CarParts.com

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for CarParts.com (NASDAQ:PRTS)

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