Michael Huffaker Buys 36,580 Shares of CarParts.com (NASDAQ:PRTS) Stock

CarParts.com, Inc. (NASDAQ:PRTS) COO Michael Huffaker acquired 36,580 shares of CarParts.com stock in a transaction that occurred on Wednesday, September 9th. The shares were purchased at an average cost of $9.64 per share, with a total value of $352,631.20. Following the purchase, the chief operating officer owned 139,560 shares of the company’s stock, valued at $1,345,358.40. This represents a 35.52% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Michael Huffaker also recently made the following trade(s):

• On Thursday, September 10th, Michael Huffaker bought 13,250 shares of CarParts.com stock. The stock was purchased at an average price of $10.06 per share, for a total transaction of $133,295.00.
• On Tuesday, September 8th, Michael Huffaker purchased 21,718 shares of CarParts.com stock. The stock was purchased at an average cost of $9.35 per share, with a total value of $203,063.30.
• On Friday, September 4th, Michael Huffaker purchased 21,160 shares of CarParts.com stock. The shares were purchased at an average price of $9.11 per share, with a total value of $192,767.60.
• On Friday, August 28th, Michael Huffaker purchased 7,548 shares of CarParts.com stock. The stock was purchased at an average cost of $7.16 per share, for a total transaction of $54,043.68.
• On Thursday, August 27th, Michael Huffaker acquired 4,614 shares of CarParts.com stock. The stock was acquired at an average price of $6.88 per share, for a total transaction of $31,744.32.

CarParts.com Price Performance

NASDAQ:PRTS opened at $8.69 on Friday. The firm has a market capitalization of $70.13 million, a price-to-earnings ratio of -2.01 and a beta of 0.71. CarParts.com, Inc. has a 52-week low of $3.72 and a 52-week high of $10.98. The stock has a fifty day moving average of $6.37 and a 200 day moving average of $7.05. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.66 and a current ratio of 1.67.

CarParts.com (NASDAQ:PRTS) last posted its earnings results on Thursday, August 6th. The specialty retailer reported ($0.43) EPS for the quarter, topping the consensus estimate of ($0.85) by $0.42. The business had revenue of $135.64 million during the quarter, compared to analysts’ expectations of $129.04 million. CarParts.com had a negative return on equity of 47.19% and a negative net margin of 5.35%.

Key Headlines Impacting CarParts.com

Here are the key news stories impacting CarParts.com this week:

• Positive Sentiment: CEO David Meniane purchased 79,539 shares between September 4 and September 9 for approximately $749,239, increasing his holdings to 299,414 shares. The purchases were made at prices ranging from $9.11 to $9.64 per share. SEC filings for CEO purchases
• Positive Sentiment: COO Michael Huffaker also bought 79,458 shares over the same period for approximately $748,462, increasing his position to 139,560 shares. The combined purchases by the CEO and COO totaled roughly $1.5 million and represent direct insider buying rather than stock awards or option exercises. SEC filings for COO purchases
• Neutral Sentiment: Reported short interest was listed at zero shares as of September 10, with a zero-day short-interest ratio. Because the report also shows an undefined percentage change from the prior period, the data appears inconsistent and offers no reliable evidence of either meaningful short selling or short-squeeze potential.
• Negative Sentiment: Analyst sentiment remains cautious: the consensus rating is “Reduce,” based on one Hold and one Sell rating, with a $6.00 average price target. That target is materially below recent trading levels, suggesting analysts view the stock as overvalued despite the insider purchases. MarketBeat PRTS analyst and stock information

Institutional Trading of CarParts.com

A number of hedge funds have recently made changes to their positions in PRTS. State Street Corp grew its position in CarParts.com by 13.2% in the fourth quarter. State Street Corp now owns 237,938 shares of the specialty retailer’s stock worth $119,000 after acquiring an additional 27,800 shares in the last quarter. Renaissance Technologies LLC raised its position in CarParts.com by 2.7% during the fourth quarter. Renaissance Technologies LLC now owns 1,352,700 shares of the specialty retailer’s stock valued at $676,000 after purchasing an additional 35,900 shares in the last quarter. Geode Capital Management LLC raised its position in CarParts.com by 14.9% during the fourth quarter. Geode Capital Management LLC now owns 649,984 shares of the specialty retailer’s stock valued at $325,000 after purchasing an additional 84,064 shares in the last quarter. Citadel Advisors LLC lifted its stake in CarParts.com by 171.5% during the third quarter. Citadel Advisors LLC now owns 148,771 shares of the specialty retailer’s stock worth $106,000 after purchasing an additional 93,971 shares during the last quarter. Finally, Private Management Group Inc. bought a new stake in CarParts.com during the third quarter worth about $65,000. 75.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of CarParts.com in a research report on Friday, July 17th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $6.00.

About CarParts.com

CarParts.com, Inc operates as a leading online retailer of aftermarket automotive parts and accessories in the United States. Through its flagship website CarParts.com and affiliated e-commerce platforms, the company offers replacement components, performance upgrades, maintenance items and collision repair parts for a wide range of domestic and import vehicles. Its product catalog includes engine parts, exterior and interior accessories, lighting, braking systems and powertrain components, supported by an extensive inventory and proprietary order management system.

Founded in 1995 by George Chamoun and headquartered in Torrance, California, CarParts.com has grown from a regional auto parts supplier into a national e-commerce platform.