Short Interest in Motorcar Parts of America, Inc. (NASDAQ:MPAA) Grows By 21.0%

Motorcar Parts of America, Inc. (NASDAQ:MPAA) saw 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. Approximately 4.8% of the shares of the stock are sold short. Based on an average daily volume of 222,442 shares, the short-interest ratio is presently 3.8 days. Based on an average daily volume of 222,442 shares, the short-interest ratio is presently 3.8 days. Approximately 4.8% of the shares of the stock are sold short.

Motorcar Parts of America Trading Up 0.5%

NASDAQ:MPAA traded up $0.05 during mid-day trading on Thursday, reaching $10.41. The company’s stock had a trading volume of 43,195 shares, compared to its average volume of 139,663. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.43 and a quick ratio of 0.41. The stock has a market cap of $199.98 million, a P/E ratio of 115.67 and a beta of 1.36. The company’s fifty day simple moving average is $11.96 and its two-hundred day simple moving average is $13.81. Motorcar Parts of America has a twelve month low of $8.17 and a twelve month high of $18.12.

Motorcar Parts of America declared that its Board of Directors has authorized a share buyback plan on Monday, December 8th that permits the company to repurchase $57.00 million in outstanding shares. This repurchase authorization permits the auto parts company to reacquire up to 22.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Motorcar Parts of America

Several hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets increased its position in Motorcar Parts of America by 2,191.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,887 shares of the auto parts company’s stock worth $32,000 after purchasing an additional 2,761 shares in the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new stake in Motorcar Parts of America during the second quarter worth approximately $45,000. Quarry LP increased its position in shares of Motorcar Parts of America by 1,117.9% in the third quarter. Quarry LP now owns 4,214 shares of the auto parts company’s stock worth $70,000 after acquiring an additional 3,868 shares in the last quarter. CWM LLC acquired a new stake in shares of Motorcar Parts of America in the third quarter worth $78,000. Finally, State of Alaska Department of Revenue purchased a new position in shares of Motorcar Parts of America in the 4th quarter valued at $63,000. 83.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.