Insider Selling: Mel Marks Sells 13,100 Shares of Motorcar Parts of America Stock (MPAA)
Motorcar Parts of America (NASDAQ:MPAA) Director Mel Marks unloaded 13,100 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $12.00, for a total value of $157,200.00. Following the sale, the director now directly owns 26,090 shares in the company, valued at approximately $313,080. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
MPAA has been the subject of a number of recent research reports. Analysts at Craig Hallum initiated coverage on shares of Motorcar Parts of America (NASDAQ:MPAA) in a research note to investors on Monday. They set a “buy” rating on the stock. Separately, analysts at Zacks upgraded shares of Motorcar Parts of America (NASDAQ:MPAA) from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday, August 20th. They now have a $10.10 price target on the stock. Finally, analysts at Thomson Reuters/Verus upgraded shares of Motorcar Parts of America (NASDAQ:MPAA) from a “sell” rating to a “hold” rating in a research note to investors on Monday, July 8th.
One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $11.45.
Shares of Motorcar Parts of America (NASDAQ:MPAA) traded up 3.56% during mid-day trading on Tuesday, hitting $12.22. 350,489 shares of the company’s stock traded hands. Motorcar Parts of America has a one year low of $4.22 and a one year high of $12.05. The stock has a 50-day moving average of $9.66 and a 200-day moving average of $7.78. The company has a market cap of $176.7 million and a P/E ratio of 8.83.
Motorcar Parts of America (NASDAQ:MPAA) last announced its earnings results on Friday, August 9th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.07. The company had revenue of $50.20 million for the quarter, compared to the consensus estimate of $49.37 million. During the same quarter in the previous year, the company posted ($0.32) earnings per share. Analysts expect that Motorcar Parts of America will post $1.17 EPS for the current fiscal year.
Motorcar Parts of America, Inc (NASDAQ:MPAA) remanufactures alternators and starters for import and domestic cars, light trucks, heavy duty, agricultural and industrial applications.
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