Ashford Capital Management Inc. bought a new position in Motorcar Parts of America, Inc. (NASDAQ:MPAA) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 401,200 shares of the auto parts company’s stock, valued at approximately $11,330,000. Motorcar Parts of America accounts for 2.0% of Ashford Capital Management Inc.’s investment portfolio, making the stock its 18th largest holding. Ashford Capital Management Inc. owned approximately 2.15% of Motorcar Parts of America as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its stake in Motorcar Parts of America by 13.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,076,980 shares of the auto parts company’s stock worth $30,414,000 after purchasing an additional 123,693 shares during the period. Vanguard Group Inc. boosted its stake in Motorcar Parts of America by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 1,005,058 shares of the auto parts company’s stock worth $28,383,000 after purchasing an additional 11,783 shares during the period. FMR LLC boosted its stake in Motorcar Parts of America by 0.6% in the 1st quarter. FMR LLC now owns 981,349 shares of the auto parts company’s stock worth $30,157,000 after purchasing an additional 5,400 shares during the period. Royal Bank of Canada boosted its stake in Motorcar Parts of America by 533.9% in the 2nd quarter. Royal Bank of Canada now owns 835,139 shares of the auto parts company’s stock worth $23,584,000 after purchasing an additional 703,390 shares during the period. Finally, State Street Corp boosted its stake in Motorcar Parts of America by 4.4% in the 2nd quarter. State Street Corp now owns 429,157 shares of the auto parts company’s stock worth $12,117,000 after purchasing an additional 18,153 shares during the period.

ILLEGAL ACTIVITY WARNING: “Ashford Capital Management Inc. Buys Shares of 401,200 Motorcar Parts of America, Inc. (MPAA)” was originally reported by Watch List News and is the property of of Watch List News. If you are accessing this news story on another website, it was illegally copied and republished in violation of US & international copyright & trademark law. The legal version of this news story can be read at https://www.watchlistnews.com/ashford-capital-management-inc-buys-shares-of-401200-motorcar-parts-of-america-inc-mpaa/1633002.html.

Shares of Motorcar Parts of America, Inc. (NASDAQ MPAA) traded down 0.87% during trading on Friday, reaching $29.49. 91,070 shares of the company were exchanged. Motorcar Parts of America, Inc. has a 52-week low of $21.75 and a 52-week high of $31.57. The stock’s 50-day moving average is $27.78 and its 200-day moving average is $28.30. The firm has a market cap of $549.55 million, a price-to-earnings ratio of 15.28 and a beta of 0.98.

Motorcar Parts of America (NASDAQ:MPAA) last issued its quarterly earnings data on Wednesday, August 9th. The auto parts company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.04. The firm had revenue of $95.06 million during the quarter, compared to analysts’ expectations of $93.60 million. Motorcar Parts of America had a net margin of 8.75% and a return on equity of 16.77%. The business’s revenue was up 11.3% on a year-over-year basis. During the same period last year, the company earned $0.52 earnings per share. Equities research analysts predict that Motorcar Parts of America, Inc. will post $2.36 earnings per share for the current fiscal year.

A number of equities analysts recently weighed in on the stock. TheStreet raised shares of Motorcar Parts of America from a “c” rating to a “b-” rating in a research note on Monday, October 9th. Zacks Investment Research lowered shares of Motorcar Parts of America from a “strong-buy” rating to a “sell” rating in a research note on Wednesday. Finally, ValuEngine lowered shares of Motorcar Parts of America from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $35.50.

Motorcar Parts of America Profile

Motorcar Parts of America, Inc is a manufacturer, remanufacturer and distributor of automotive aftermarket parts, including alternators, starters, wheel hub assembly, brake master cylinders, brake power boosters and turbochargers utilized in imported and domestic passenger vehicles, light trucks and heavy-duty applications.

Want to see what other hedge funds are holding MPAA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Motorcar Parts of America, Inc. (NASDAQ:MPAA).

Institutional Ownership by Quarter for Motorcar Parts of America (NASDAQ:MPAA)

Receive News & Ratings for Motorcar Parts of America Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Motorcar Parts of America Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.