Insider Selling: Motorcar Parts of America Director Sells 22,103 Shares of Stock (MPAA)
Motorcar Parts of America (NASDAQ:MPAA) Director Mel Marks sold 22,103 shares of Motorcar Parts of America stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $22.74, for a total transaction of $502,622.22. Following the completion of the transaction, the director now directly owns 26,090 shares of the company’s stock, valued at approximately $593,287. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Motorcar Parts of America (NASDAQ:MPAA) traded down 3.15% during mid-day trading on Monday, hitting $23.07. 642,560 shares of the company’s stock traded hands. Motorcar Parts of America has a 52 week low of $6.03 and a 52 week high of $29.29. The stock’s 50-day moving average is $26.34 and its 200-day moving average is $22.57. The company has a market cap of $344.8 million and a price-to-earnings ratio of 11.27.
Separately, analysts at Zacks downgraded shares of Motorcar Parts of America from an “outperform” rating to a “neutral” rating in a research note on Tuesday, April 29th. They now have a $30.50 price target on the stock. One analyst has rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $37.13.
Motorcar Parts of America, Inc (NASDAQ:MPAA) is a manufactures, remanufactures and distributes new and remanufactured steering components, brake calipers, master cylinders, hub assembly and bearings, and clutches and clutch hydraulics for virtually all passenger and truck vehicles.
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