David Meniane Buys 21,742 Shares of CarParts.com (NASDAQ:PRTS) Stock

CarParts.com, Inc. (NASDAQ:PRTS) CEO David Meniane bought 21,742 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The shares were acquired at an average price of $9.35 per share, for a total transaction of $203,287.70. Following the completion of the transaction, the chief executive officer owned 262,771 shares in the company, valued at $2,456,908.85. This represents a 9.02% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Thursday, September 10th, David Meniane purchased 13,250 shares of CarParts.com stock. The stock was acquired at an average cost of $10.06 per share, with a total value of $133,295.00.
• On Wednesday, September 9th, David Meniane purchased 36,643 shares of CarParts.com stock. The shares were acquired at an average price of $9.64 per share, with a total value of $353,238.52.
• On Friday, September 4th, David Meniane purchased 21,154 shares of CarParts.com stock. The shares were acquired at an average price of $9.11 per share, with a total value of $192,712.94.
• On Friday, August 28th, David Meniane acquired 7,552 shares of CarParts.com stock. The shares were bought at an average cost of $7.16 per share, for a total transaction of $54,072.32.
• On Thursday, August 27th, David Meniane acquired 4,612 shares of CarParts.com stock. The stock was bought at an average price of $6.88 per share, for a total transaction of $31,730.56.

CarParts.com Trading Down 13.1%

PRTS stock opened at $8.69 on Friday. CarParts.com, Inc. has a 1-year low of $3.72 and a 1-year high of $10.98. The company has a current ratio of 1.67, a quick ratio of 0.66 and a debt-to-equity ratio of 0.54. The business’s 50 day moving average is $6.37 and its 200-day moving average is $7.05. The firm has a market cap of $70.13 million, a P/E ratio of -2.01 and a beta of 0.71.

CarParts.com (NASDAQ:PRTS) last posted its earnings results on Thursday, August 6th. The specialty retailer reported ($0.43) EPS for the quarter, topping the consensus estimate of ($0.85) by $0.42. The business had revenue of $135.64 million during the quarter, compared to the consensus estimate of $129.04 million. CarParts.com had a negative return on equity of 47.19% and a negative net margin of 5.35%.

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 research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $6.00.

Key CarParts.com News

Here are the key news stories impacting CarParts.com this week:

• Positive Sentiment: CEO David Meniane purchased 79,539 shares between September 4 and September 9 for approximately $749,239, increasing his holdings to 299,414 shares. The purchases were made at prices ranging from $9.11 to $9.64 per share. SEC filings for CEO purchases
• Positive Sentiment: COO Michael Huffaker also bought 79,458 shares over the same period for approximately $748,462, increasing his position to 139,560 shares. The combined purchases by the CEO and COO totaled roughly $1.5 million and represent direct insider buying rather than stock awards or option exercises. SEC filings for COO purchases
• Neutral Sentiment: Reported short interest was listed at zero shares as of September 10, with a zero-day short-interest ratio. Because the report also shows an undefined percentage change from the prior period, the data appears inconsistent and offers no reliable evidence of either meaningful short selling or short-squeeze potential.
• Negative Sentiment: Analyst sentiment remains cautious: the consensus rating is “Reduce,” based on one Hold and one Sell rating, with a $6.00 average price target. That target is materially below recent trading levels, suggesting analysts view the stock as overvalued despite the insider purchases. MarketBeat PRTS analyst and stock information

Institutional Investors Weigh In On CarParts.com

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jane Street Group LLC acquired a new position in CarParts.com in the second quarter worth $25,000. Cullen Frost Bankers Inc. acquired a new stake in shares of CarParts.com in the fourth quarter valued at $25,000. Marshall Wace LLP increased its stake in shares of CarParts.com by 345.8% in the second quarter. Marshall Wace LLP now owns 68,546 shares of the specialty retailer’s stock valued at $51,000 after buying an additional 53,170 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of CarParts.com by 249.6% in the first quarter. Bank of America Corp DE now owns 70,094 shares of the specialty retailer’s stock valued at $55,000 after buying an additional 50,045 shares during the last quarter. Finally, Private Management Group Inc. bought a new position in shares of CarParts.com in the third quarter valued at about $65,000. 75.30% of the stock is owned by institutional investors and hedge funds.

About CarParts.com

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.