Motorcar Parts of America (NASDAQ:MPAA) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Motorcar Parts of America (NASDAQ:MPAA) from a hold rating to a buy rating in a report published on Wednesday morning.

Motorcar Parts of America Price Performance

Motorcar Parts of America stock opened at $6.85 on Wednesday. The company has a current ratio of 1.39, a quick ratio of 0.35 and a debt-to-equity ratio of 0.12. The stock’s 50 day moving average is $6.06 and its 200-day moving average is $5.93. Motorcar Parts of America has a 12 month low of $4.36 and a 12 month high of $10.40. The company has a market capitalization of $135.29 million, a price-to-earnings ratio of -1.96 and a beta of 1.44.

Insider Transactions at Motorcar Parts of America

In related news, major shareholder 325 Capital Llc purchased 16,608 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were bought at an average cost of $6.73 per share, with a total value of $111,771.84. Following the acquisition, the insider now owns 1,984,990 shares of the company’s stock, valued at $13,358,982.70. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 6.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Motorcar Parts of America

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System bought a new stake in Motorcar Parts of America during the first quarter valued at $90,000. Privium Fund Management UK Ltd grew its stake in Motorcar Parts of America by 22.4% during the second quarter. Privium Fund Management UK Ltd now owns 27,509 shares of the auto parts company’s stock worth $163,000 after purchasing an additional 5,038 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in Motorcar Parts of America by 24.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 35,003 shares of the auto parts company’s stock worth $216,000 after purchasing an additional 6,979 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new position in Motorcar Parts of America in the third quarter valued at approximately $281,000. Finally, Perritt Capital Management Inc lifted its stake in Motorcar Parts of America by 6.7% in the second quarter. Perritt Capital Management Inc now owns 78,050 shares of the auto parts company’s stock valued at $482,000 after buying an additional 4,867 shares during the period. 83.48% of the stock is owned by institutional investors and hedge funds.

Motorcar Parts of America Company Profile

Motorcar Parts of America, Inc manufactures, remanufactures, and distributes heavy-duty truck, industrial, marine, and agricultural application replacement parts in the United States. The company offers rotating electrical products, including alternators and starters; wheel hub assemblies and bearings; and brake-related products comprising brake calipers, brake boosters, brake rotors, brake pads, and brake master cylinders.