Scalar Gauge Management LLC Takes Position in Motorcar Parts of America, Inc. $MPAA

Scalar Gauge Management LLC purchased a new position in shares of Motorcar Parts of America, Inc. (NASDAQ:MPAA) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 53,000 shares of the auto parts company’s stock, valued at approximately $877,000. Motorcar Parts of America accounts for 0.4% of Scalar Gauge Management LLC’s investment portfolio, making the stock its 28th largest holding.

Other institutional investors also recently modified their holdings of the company. Cubist Systematic Strategies LLC acquired a new stake in Motorcar Parts of America in the first quarter valued at $234,000. Goldman Sachs Group Inc. increased its stake in shares of Motorcar Parts of America by 294.3% in the first quarter. Goldman Sachs Group Inc. now owns 105,432 shares of the auto parts company’s stock valued at $1,002,000 after buying an additional 78,695 shares during the period. Jane Street Group LLC raised its position in shares of Motorcar Parts of America by 156.0% during the first quarter. Jane Street Group LLC now owns 89,733 shares of the auto parts company’s stock worth $852,000 after acquiring an additional 54,681 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Motorcar Parts of America by 64.6% in the first quarter. Acadian Asset Management LLC now owns 36,326 shares of the auto parts company’s stock worth $343,000 after acquiring an additional 14,251 shares during the period. Finally, Pure Financial Advisors LLC bought a new stake in Motorcar Parts of America in the second quarter valued at approximately $5,781,000. Institutional investors own 83.48% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of Motorcar Parts of America in a report on Monday, December 29th. Loop Capital set a $20.00 price objective on shares of Motorcar Parts of America in a research report on Friday, December 12th. Wall Street Zen lowered shares of Motorcar Parts of America from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 14th. Finally, Zacks Research upgraded Motorcar Parts of America from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $20.00.

Motorcar Parts of America Trading Down 1.4%

MPAA opened at $12.81 on Tuesday. Motorcar Parts of America, Inc. has a 1-year low of $5.38 and a 1-year high of $18.12. The company has a current ratio of 1.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.17. The company has a market cap of $250.56 million, a P/E ratio of 116.45 and a beta of 1.28. The company has a fifty day moving average price of $12.90 and a two-hundred day moving average price of $13.94.

Motorcar Parts of America declared that its board has authorized a share repurchase program on Monday, December 8th that permits the company to buyback $57.00 million in outstanding shares. This buyback authorization permits the auto parts company to repurchase up to 22.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Motorcar Parts of America Company 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.