First Trust Advisors LP lifted its holdings in shares of Motorcar Parts of America Inc. (NASDAQ:MPAA) by 16.0% during the 4th quarter, Holdings Channel reports. The firm owned 17,070 shares of the auto parts company’s stock after purchasing an additional 2,349 shares during the period. First Trust Advisors LP’s holdings in Motorcar Parts of America were worth $427,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the company. BNP Paribas Arbitrage SA boosted its holdings in Motorcar Parts of America by 71.3% in the third quarter. BNP Paribas Arbitrage SA now owns 9,385 shares of the auto parts company’s stock valued at $276,000 after acquiring an additional 3,907 shares during the last quarter. Aperio Group LLC boosted its holdings in Motorcar Parts of America by 24.4% in the fourth quarter. Aperio Group LLC now owns 13,985 shares of the auto parts company’s stock valued at $349,000 after acquiring an additional 2,739 shares during the last quarter. National Investment Services Inc. WI boosted its holdings in Motorcar Parts of America by 70.7% in the fourth quarter. National Investment Services Inc. WI now owns 16,137 shares of the auto parts company’s stock valued at $403,000 after acquiring an additional 6,685 shares during the last quarter. OxFORD Asset Management LLP bought a new position in Motorcar Parts of America in the third quarter valued at about $807,000. Finally, WCM Investment Management CA bought a new position in Motorcar Parts of America in the fourth quarter valued at about $938,000.
Motorcar Parts of America stock opened at $21.43 on Monday. The stock has a market capitalization of $408.76, a P/E ratio of 9.61, a PEG ratio of 0.51 and a beta of 1.24. Motorcar Parts of America Inc. has a 12-month low of $20.11 and a 12-month high of $31.57. The company has a current ratio of 0.74, a quick ratio of 0.18 and a debt-to-equity ratio of 0.05.
Motorcar Parts of America declared that its Board of Directors has initiated a share buyback program on Friday, February 9th that authorizes the company to buyback $5.00 million in outstanding shares. This buyback authorization authorizes the auto parts company to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
In related news, CEO Joffe Selwyn bought 5,000 shares of Motorcar Parts of America stock in a transaction on Monday, February 12th. The shares were purchased at an average price of $21.00 per share, for a total transaction of $105,000.00. Following the completion of the acquisition, the chief executive officer now owns 140,271 shares in the company, valued at $2,945,691. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have acquired 6,612 shares of company stock worth $140,356. Company insiders own 4.20% of the company’s stock.
MPAA has been the topic of several recent research reports. Roth Capital set a $26.00 price target on Motorcar Parts of America and gave the company a “buy” rating in a report on Monday, February 12th. B. Riley reiterated a “buy” rating and issued a $39.00 price target on shares of Motorcar Parts of America in a report on Monday, February 12th. TheStreet cut Motorcar Parts of America from a “b-” rating to a “c” rating in a report on Tuesday, December 5th. ValuEngine cut Motorcar Parts of America from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, Zacks Investment Research upgraded Motorcar Parts of America from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 17th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $34.00.
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About Motorcar Parts of America
Motorcar Parts of America, Inc manufactures, remanufactures, and distributes automotive aftermarket parts. The company offers rotating electrical products, including alternators and starters; wheel hub assemblies and bearings; brake master cylinders; and other products, such as turbochargers and brake power boosters for import and domestic cars, light trucks, heavy duty, agricultural, and industrial applications.
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