Motorcar Parts of America, Inc. $MPAA Stock: Azarias Capital Management L.P. Reduces Stake

Azarias Capital Management L.P. lowered its position in Motorcar Parts of America, Inc. (NASDAQ:MPAA) by 30.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 317,162 shares of the auto parts company’s stock after selling 141,163 shares during the period. Motorcar Parts of America comprises approximately 3.1% of Azarias Capital Management L.P.’s investment portfolio, making the stock its 11th largest position. Azarias Capital Management L.P.’s holdings in Motorcar Parts of America were worth $3,327,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. State of Wyoming purchased a new position in shares of Motorcar Parts of America during the second quarter worth approximately $74,000. Deutsche Bank AG bought a new stake in shares of Motorcar Parts of America in the 2nd quarter worth approximately $196,000. Sei Investments Co. bought a new stake in shares of Motorcar Parts of America in the 1st quarter worth approximately $311,000. Bank of America Corp DE lifted its holdings in shares of Motorcar Parts of America by 165.7% in the 1st quarter. Bank of America Corp DE now owns 30,049 shares of the auto parts company’s stock worth $332,000 after acquiring an additional 18,741 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Motorcar Parts of America by 12.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 38,523 shares of the auto parts company’s stock valued at $426,000 after purchasing an additional 4,347 shares in the last quarter. 83.48% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on MPAA. Raymond James Financial set a $16.00 target price on shares of Motorcar Parts of America in a report on Tuesday, August 18th. Zacks Research downgraded shares of Motorcar Parts of America from a “hold” rating to a “strong sell” rating in a research note on Monday. Weiss Ratings downgraded shares of Motorcar Parts of America from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, August 25th. Finally, Wall Street Zen lowered shares of Motorcar Parts of America from a “strong-buy” rating to a “hold” rating in a research report on Saturday, August 15th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Motorcar Parts of America has a consensus rating of “Hold” and a consensus price target of $18.00.

Motorcar Parts of America Trading Down 1.9%

Motorcar Parts of America stock traded down $0.20 during trading hours on Wednesday, reaching $10.39. The company had a trading volume of 78,410 shares, compared to its average volume of 115,872. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.44 and a quick ratio of 0.39. Motorcar Parts of America, Inc. has a 12-month low of $9.29 and a 12-month high of $18.12. The company has a 50-day moving average price of $11.38 and a 200 day moving average price of $12.18. The firm has a market cap of $196.68 million, a price-to-earnings ratio of -33.52 and a beta of 1.19.

Motorcar Parts of America (NASDAQ:MPAA) last released its quarterly earnings data on Monday, August 10th. The auto parts company reported ($0.71) earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.91). The company had revenue of $168.02 million for the quarter, compared to analysts’ expectations of $183.00 million. Motorcar Parts of America had a negative net margin of 0.53% and a negative return on equity of 0.57%. Equities analysts forecast that Motorcar Parts of America, Inc. will post 0.19 earnings per share for the current year.

Motorcar Parts of America Profile

Motorcar Parts of America, Inc designs, manufactures, remanufactures and distributes automotive replacement parts for the aftermarket. Its product offerings primarily include rotating electrical components such as alternators and starters, along with brake-related products and other replacement parts used in passenger vehicles, light trucks and other applications.

The company sells products under several brand names, including Quality-Built, Pure Energy and DuraGo, and also supplies private-label products to automotive parts distributors and retailers.