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

Motorcar Parts of America (NASDAQ:MPAA) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

Motorcar Parts of America Stock Up 2.2 %

Shares of MPAA opened at $7.00 on Wednesday. Motorcar Parts of America has a 1 year low of $4.36 and a 1 year high of $10.40. The company’s 50-day simple moving average is $6.08 and its 200-day simple moving average is $5.94. The stock has a market capitalization of $138.25 million, a PE ratio of -1.92 and a beta of 1.44. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.35 and a current ratio of 1.39.

Insiders Place Their Bets

In related news, major shareholder 325 Capital Llc acquired 16,608 shares of the stock in a transaction dated Tuesday, August 27th. The stock was acquired at an average cost of $6.73 per share, with a total value of $111,771.84. Following the completion of the transaction, the insider now owns 1,984,990 shares in the company, valued at $13,358,982.70. This represents a 0.84 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 6.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MPAA. State Board of Administration of Florida Retirement System acquired a new stake in shares of Motorcar Parts of America in the 1st quarter valued at $90,000. Privium Fund Management UK Ltd increased its holdings in Motorcar Parts of America by 22.4% in the second quarter. Privium Fund Management UK Ltd now owns 27,509 shares of the auto parts company’s stock valued at $163,000 after buying an additional 5,038 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake 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 valued at $216,000 after buying an additional 6,979 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in Motorcar Parts of America during the 3rd quarter worth about $281,000. Finally, Equitable Trust Co. boosted its position in shares of Motorcar Parts of America by 9.3% during the 3rd quarter. Equitable Trust Co. now owns 67,965 shares of the auto parts company’s stock worth $502,000 after acquiring an additional 5,780 shares in the last quarter. Institutional investors and hedge funds own 83.48% of the company’s stock.

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.