Why are Institutional Investors Interested in Buying CarParts.com Inc. (PRTS)?

CarParts.com Inc. (NASDAQ: PRTS) is 11.30% higher on its value in year-to-date trading and has touched a low of $1.04 and a high of $17.29 in the current 52-week trading range. The PRTS stock was last observed hovering at around $14.05 in the last trading session, with the day’s loss setting it -0.26% off its average median price target of $18.50 for the next 12 months. It is also 31.05% off the consensus price target high of $20.00 offered by 4 analysts, but current levels are 8.07% higher than the price target low of $15.00 for the same period.

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Currently trading at $13.79, the stock is 7.89% and 4.35% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.32 million and changing -1.85% at the moment leaves the stock 36.56% off its SMA200. PRTS registered 382.17% gain for a year compared to 6-month gain of 30.46%. The firm has a 50-day simple moving average (SMA 50) of $13.68 and a 200-day simple moving average (SMA200) of $12.49.

The stock witnessed a -2.82% loss in the last 1 month and extending the period to 3 months gives it a 26.40%, and is 9.97% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 6.82% over the week and 6.83% over the month.

CarParts.com Inc. (PRTS) has around 843 employees, a market worth around $664.13M and $387.10M in sales. Profit margin for the company is -6.00%. Distance from 52-week low is 1225.96% and -20.24% from its 52-week high. The company has generated returns on investments over the last 12 months (-126.30%).

CarParts.com Inc. (PRTS) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for CarParts.com Inc. (PRTS) is a “Buy”. 4 analysts offering their recommendations for the stock have an average rating of 2.00, where 0 rate it as a Hold and 0 think it is a “Overweight”. 4 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

CarParts.com Inc. is expected to release its quarterly report on 05/12/2021 and quarterly earnings per share for the current quarter are estimated at -$0.09 with sales reaching $94.8M over the same period.The EPS is expected to shrink by -514.20% this year, but quarterly earnings will post 49.30% year-over-year. Quarterly sales are estimated to grow 51.20% in year-over-year returns.

CarParts.com Inc. (PRTS) Top Institutional Holders

154 institutions hold shares in CarParts.com Inc. (PRTS), with 11.06M shares held by insiders accounting for 23.08% while institutional investors hold 96.91% of the company’s shares. The shares outstanding are 44.69M, and float is at 36.87M with Short Float at 34.31%. Institutions hold 74.55% of the Float.

The top institutional shareholder in the company is Renaissance Technologies, LLC with over 3.51 million shares valued at $37.98 million. The investor’s holdings represent 7.33% of the PRTS Shares outstanding. As of Sep 29, 2020, the second largest holder is G2 Investment Partners Management LLC with 2.74 million shares valued at $29.65 million to account for 5.72% of the shares outstanding. The other top investors are Park West Asset Management LLC which holds 2.28 million shares representing 4.76% and valued at over $24.67 million, while Polar Asset Management Partners Inc. holds 4.20% of the shares totaling 2.01 million with a market value of $21.73 million.

CarParts.com Inc. (PRTS) Insider Activity

A total of 39 insider transactions have happened at CarParts.com Inc. (PRTS) in the last six months, with sales accounting for 18 and purchases happening 21 times. The most recent transaction is an insider sale by Khazani Sol, the company’s Director. SEC filings show that Khazani Sol sold 200,585 shares of the company’s common stock on Dec 11 at a price of $13.47 per share for a total of $2.7 million. Following the sale, the insider now owns 2.06 million shares.

CarParts.com Inc. disclosed in a document filed with the SEC on Dec 11 that Nia Mehran (Director) sold a total of 180,880 shares of the company’s common stock. The trade occurred on Dec 11 and was made at $13.57 per share for $2.45 million. Following the transaction, the insider now directly holds 1.67 million shares of the PRTS stock.

Still, SEC filings show that on Dec 11, Peker Lev (Chief Executive Officer) disposed off 123,900 shares at an average price of $13.65 for $1.69 million. The insider now directly holds 196,954 shares of CarParts.com Inc. (PRTS).

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