Pacific Ridge Capital Partners LLC Has $11.07 Million Position in Motorcar Parts of America, Inc. $MPAA

Pacific Ridge Capital Partners LLC reduced its stake in shares of Motorcar Parts of America, Inc. (NASDAQ:MPAA) by 25.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 669,281 shares of the auto parts company’s stock after selling 234,192 shares during the period. Motorcar Parts of America accounts for approximately 2.4% of Pacific Ridge Capital Partners LLC’s portfolio, making the stock its 3rd biggest holding. Pacific Ridge Capital Partners LLC owned 3.46% of Motorcar Parts of America worth $11,070,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MPAA. BNP Paribas Financial Markets boosted its stake in shares of 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 acquiring an additional 2,761 shares in the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new stake in Motorcar Parts of America in the 2nd quarter worth approximately $45,000. CWM LLC bought a new stake in Motorcar Parts of America during the third quarter worth approximately $78,000. JPMorgan Chase & Co. boosted its position in Motorcar Parts of America by 7,127.3% during the second quarter. JPMorgan Chase & Co. now owns 8,745 shares of the auto parts company’s stock worth $98,000 after purchasing an additional 8,624 shares during the period. Finally, New York State Common Retirement Fund acquired a new position in Motorcar Parts of America during the second quarter valued at approximately $109,000. Institutional investors and hedge funds own 83.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of Motorcar Parts of America from a “sell (d)” rating to a “hold (c-)” rating in a research note on Tuesday, February 10th. Wall Street Zen lowered 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 target price on shares of Motorcar Parts of America in a report on Friday, December 12th. Finally, Zacks Research raised shares of Motorcar Parts of America from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Motorcar Parts of America has an average rating of “Hold” and a consensus price target of $20.00.

Motorcar Parts of America Price Performance

NASDAQ:MPAA opened at $10.77 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.43 and a quick ratio of 0.41. Motorcar Parts of America, Inc. has a one year low of $8.17 and a one year high of $18.12. The company has a fifty day moving average price of $12.18 and a 200 day moving average price of $13.94. The stock has a market cap of $206.89 million, a P/E ratio of 119.67 and a beta of 1.32.

Motorcar Parts of America announced that its Board of Directors has approved a share buyback program on Monday, December 8th that permits the company to repurchase $57.00 million in shares. This repurchase authorization permits the auto parts company to buy up to 22.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Motorcar Parts of America Profile

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.