Lazard Asset Management LLC Sells 76,150 Shares of Motorcar Parts of America, Inc. $MPAA

Lazard Asset Management LLC reduced its holdings in shares of Motorcar Parts of America, Inc. (NASDAQ:MPAA) by 63.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 43,912 shares of the auto parts company’s stock after selling 76,150 shares during the period. Lazard Asset Management LLC owned about 0.23% of Motorcar Parts of America worth $486,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its stake in Motorcar Parts of America by 2,191.3% during the second 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 during the period. State of Alaska Department of Revenue acquired a new stake in Motorcar Parts of America during the fourth quarter valued at approximately $63,000. Quarry LP grew its stake in shares of Motorcar Parts of America by 1,117.9% in the 3rd quarter. Quarry LP now owns 4,214 shares of the auto parts company’s stock valued at $70,000 after purchasing an additional 3,868 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Motorcar Parts of America by 7,127.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 8,745 shares of the auto parts company’s stock worth $98,000 after buying an additional 8,624 shares in the last quarter. Finally, New York State Common Retirement Fund acquired a new position in shares of Motorcar Parts of America in the 2nd quarter worth approximately $109,000. Institutional investors own 83.48% of the company’s stock.

Motorcar Parts of America Stock Performance

NASDAQ MPAA opened at $13.60 on Friday. The firm has a market cap of $257.49 million, a price-to-earnings ratio of 24.73 and a beta of 1.16. The company has a 50 day moving average of $13.93 and a 200-day moving average of $12.15. The company has a current ratio of 1.46, a quick ratio of 0.47 and a debt-to-equity ratio of 0.15. Motorcar Parts of America, Inc. has a 1-year low of $9.29 and a 1-year high of $18.12.

Motorcar Parts of America (NASDAQ:MPAA) last posted its earnings results on Monday, June 8th. The auto parts company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.09. The company had revenue of $212.28 million during the quarter, compared to analysts’ expectations of $175.96 million. Motorcar Parts of America had a net margin of 1.57% and a return on equity of 5.53%. During the same quarter in the previous year, the company posted ($0.04) earnings per share. On average, equities analysts forecast that Motorcar Parts of America, Inc. will post 1.28 earnings per share for the current fiscal year.

Insider Transactions at Motorcar Parts of America

In other Motorcar Parts of America news, SVP Jamie Leigh Cook sold 14,074 shares of Motorcar Parts of America stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $15.03, for a total value of $211,532.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 8.40% of the company’s stock.

Analyst Ratings Changes

MPAA has been the topic of several recent analyst reports. Weiss Ratings raised Motorcar Parts of America from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 9th. Wall Street Zen upgraded Motorcar Parts of America from a “hold” rating to a “strong-buy” rating in a research note on Saturday, June 13th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Motorcar Parts of America in a report on Tuesday, June 9th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.00.

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.