Panagora Asset Management Inc. Acquires New Stake in Motorcar Parts of America, Inc. $MPAA

Panagora Asset Management Inc. bought a new position in Motorcar Parts of America, Inc. (NASDAQ:MPAA) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 41,882 shares of the auto parts company’s stock, valued at approximately $469,000.

A number of other large investors have also made changes to their positions in the company. Pure Financial Advisors LLC bought a new position in shares of Motorcar Parts of America in the 2nd quarter worth approximately $5,781,000. Geode Capital Management LLC grew its position in Motorcar Parts of America by 100.6% during 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 buying an additional 225,225 shares during the period. American Century Companies Inc. increased its holdings in Motorcar Parts of America by 53.6% during the second quarter. American Century Companies Inc. now owns 399,618 shares of the auto parts company’s stock valued at $4,476,000 after buying an additional 139,513 shares during the last quarter. Informed Momentum Co LLC purchased a new stake in Motorcar Parts of America during the first quarter valued at approximately $982,000. Finally, Goldman Sachs Group Inc. raised its position in 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 worth $1,002,000 after acquiring an additional 78,695 shares during the period. 83.48% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MPAA has been the subject of a number of recent research reports. Wall Street Zen raised shares of Motorcar Parts of America from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Weiss Ratings reiterated a “sell (d)” rating on shares of Motorcar Parts of America in a research report on Monday, December 1st. Finally, Zacks Research cut Motorcar Parts of America from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 12th. One analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $14.00.

Motorcar Parts of America Stock Down 1.8%

MPAA opened at $12.74 on Friday. The stock has a market cap of $249.19 million, a price-to-earnings ratio of 115.82 and a beta of 1.26. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.46 and a current ratio of 1.46. The firm’s fifty day moving average is $15.00 and its 200 day moving average is $13.48. Motorcar Parts of America, Inc. has a fifty-two week low of $5.38 and a fifty-two week high of $18.12.

Motorcar Parts of America Company Profile

Motorcar Parts of America, Inc manufactures, remanufactures, and distributes heavy-duty truck, industrial, marine, and agricultural application replacement parts in the United States. The company offers rotating electrical products, including alternators and starters; wheel hub assemblies and bearings; and brake-related products comprising brake calipers, brake boosters, brake rotors, brake pads, and brake master cylinders.