Motorcar Parts of America, Inc. (NASDAQ:MPAA) Sees Large Growth in Short Interest

Motorcar Parts of America, Inc. (NASDAQ:MPAA) was the recipient of a significant growth in short interest during the month of February. As of February 13th, there was short interest totaling 851,183 shares, a growth of 21.0% from the January 29th total of 703,345 shares. Based on an average daily volume of 222,442 shares, the short-interest ratio is presently 3.8 days. Currently, 4.8% of the company’s stock are sold short. Currently, 4.8% of the company’s stock are sold short. Based on an average daily volume of 222,442 shares, the short-interest ratio is presently 3.8 days.

Institutional Trading of Motorcar Parts of America

Several hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its stake in Motorcar Parts of America by 434.8% in the 4th quarter. JPMorgan Chase & Co. now owns 444,341 shares of the auto parts company’s stock valued at $5,483,000 after buying an additional 361,259 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of Motorcar Parts of America by 96.6% during the second quarter. Marshall Wace LLP now owns 505,955 shares of the auto parts company’s stock worth $5,667,000 after acquiring an additional 248,637 shares during the period. Geode Capital Management LLC grew its position in shares of Motorcar Parts of America by 100.6% in the second quarter. Geode Capital Management LLC now owns 449,077 shares of the auto parts company’s stock valued at $5,031,000 after purchasing an additional 225,225 shares during the last quarter. Donald Smith & CO. Inc. increased its stake in shares of Motorcar Parts of America by 21.5% during the fourth quarter. Donald Smith & CO. Inc. now owns 960,289 shares of the auto parts company’s stock worth $11,850,000 after purchasing an additional 169,979 shares during the period. Finally, Invesco Ltd. lifted its holdings in Motorcar Parts of America by 391.2% during the 3rd quarter. Invesco Ltd. now owns 193,939 shares of the auto parts company’s stock worth $3,208,000 after purchasing an additional 154,460 shares during the last quarter. Institutional investors own 83.48% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on MPAA shares. Wall Street Zen cut Motorcar Parts of America from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Zacks Research upgraded shares of Motorcar Parts of America from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Loop Capital set a $20.00 price target on shares of Motorcar Parts of America in a research note on Friday, December 12th. Finally, Weiss Ratings raised shares of Motorcar Parts of America from a “sell (d)” rating to a “hold (c-)” rating in a research report on Tuesday, February 10th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Motorcar Parts of America has an average rating of “Hold” and an average target price of $20.00.

Motorcar Parts of America Stock Up 1.0%

MPAA opened at $10.41 on Wednesday. Motorcar Parts of America has a 1-year low of $8.17 and a 1-year high of $18.12. The stock’s fifty day simple moving average is $12.00 and its 200 day simple moving average is $13.83. The company has a current ratio of 1.43, a quick ratio of 0.41 and a debt-to-equity ratio of 0.15. The stock has a market cap of $199.98 million, a PE ratio of 115.67 and a beta of 1.36.

Motorcar Parts of America declared that its board has approved a stock buyback plan on Monday, December 8th that authorizes the company to repurchase $57.00 million in outstanding shares. This repurchase authorization authorizes the auto parts company to purchase up to 22.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

About Motorcar Parts of America

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.