The Insider Buying: Motorcar Parts of America, Inc. (MPAA) Director Acquires $28,840.00 in Stock

The Insider Buying: Motorcar Parts of America, Inc. (MPAA) Director Acquires $28,840.00 in Stock

Motorcar Parts of America, Inc. (NASDAQ:MPAA) Director Joseph Edwin Ferguson bought 1,000 shares of the stock in a transaction dated Wednesday, March 1st. The shares were purchased at an average price of $28.84 per share, for a total transaction of $28,840.00. Following the purchase, the director now owns 1,000 shares of the company’s stock, valued at approximately $28,840. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Shares of Motorcar Parts of America, Inc. (NASDAQ:MPAA) traded down 0.81% during trading on Monday, hitting $28.04. The stock had a trading volume of 15,315 shares. The company has a market capitalization of $524.15 million, a price-to-earnings ratio of 18.18 and a beta of 1.74. Motorcar Parts of America, Inc. has a 52 week low of $21.75 and a 52 week high of $38.78. The company’s 50 day moving average price is $27.47 and its 200 day moving average price is $27.22.

Motorcar Parts of America (NASDAQ:MPAA) last released its quarterly earnings results on Thursday, February 9th. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.07. The business earned $112.60 million during the quarter, compared to the consensus estimate of $100.80 million. Motorcar Parts of America had a return on equity of 18.61% and a net margin of 7.43%. The company’s quarterly revenue was up 19.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.52 EPS. Analysts predict that Motorcar Parts of America, Inc. will post $2.36 earnings per share for the current year.

A number of equities analysts have recently weighed in on MPAA shares. B. Riley upgraded Motorcar Parts of America from a “neutral” rating to a “buy” rating and set a $35.00 target price on the stock in a research note on Thursday, November 10th. Zacks Investment Research lowered Motorcar Parts of America from a “hold” rating to a “sell” rating in a research note on Tuesday, November 15th. Finally, Roth Capital reiterated a “buy” rating and set a $31.00 target price (down previously from $35.00) on shares of Motorcar Parts of America in a research note on Thursday, February 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $37.00.

A number of institutional investors have recently added to or reduced their stakes in MPAA. Prudential Financial Inc. increased its position in Motorcar Parts of America by 0.7% in the second quarter. Prudential Financial Inc. now owns 44,620 shares of the company’s stock worth $1,213,000 after buying an additional 320 shares during the period. Dynamic Technology Lab Private Ltd increased its position in Motorcar Parts of America by 432.6% in the second quarter. Dynamic Technology Lab Private Ltd now owns 40,719 shares of the company’s stock worth $1,106,000 after buying an additional 33,074 shares during the period. Royal Bank of Canada increased its position in Motorcar Parts of America by 59.9% in the second quarter. Royal Bank of Canada now owns 71,373 shares of the company’s stock worth $1,940,000 after buying an additional 26,725 shares during the period. North Star Investment Management Corp. increased its position in Motorcar Parts of America by 45.9% in the third quarter. North Star Investment Management Corp. now owns 51,000 shares of the company’s stock worth $1,468,000 after buying an additional 16,050 shares during the period. Finally, Louisiana State Employees Retirement System increased its position in Motorcar Parts of America by 1.2% in the third quarter. Louisiana State Employees Retirement System now owns 8,200 shares of the company’s stock worth $236,000 after buying an additional 100 shares during the period.

About Motorcar Parts of America

Motorcar Parts of America, Inc is a manufacturer, remanufacturer and distributor of automotive aftermarket parts, including alternators, starters, wheel hub assembly, brake master cylinders, brake power boosters and turbochargers utilized in imported and domestic passenger vehicles, light trucks and heavy-duty applications.

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