Millennium Management LLC Trims Stock Position in CarParts.com, Inc. (NASDAQ:PRTS)

Millennium Management LLC cut its stake in shares of CarParts.com, Inc. (NASDAQ:PRTS) by 14.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 451,447 shares of the specialty retailer’s stock after selling 74,279 shares during the quarter. Millennium Management LLC’s holdings in CarParts.com were worth $488,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Thompson Davis & CO. Inc. bought a new position in shares of CarParts.com during the 4th quarter valued at approximately $27,000. Raymond James Financial Inc. bought a new position in shares of CarParts.com during the 4th quarter valued at approximately $39,000. Northern Trust Corp grew its stake in shares of CarParts.com by 8.6% during the 4th quarter. Northern Trust Corp now owns 138,525 shares of the specialty retailer’s stock valued at $150,000 after acquiring an additional 10,954 shares during the period. AMH Equity Ltd bought a new position in shares of CarParts.com during the 4th quarter valued at approximately $368,000. Finally, Manatuck Hill Partners LLC grew its stake in shares of CarParts.com by 66.7% during the 4th quarter. Manatuck Hill Partners LLC now owns 500,000 shares of the specialty retailer’s stock valued at $540,000 after acquiring an additional 200,000 shares during the period. 75.30% of the stock is currently owned by institutional investors.

CarParts.com Trading Up 3.2%

PRTS stock opened at $0.92 on Monday. CarParts.com, Inc. has a 1-year low of $0.68 and a 1-year high of $1.45. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.62 and a quick ratio of 0.57. The company has a market capitalization of $53.75 million, a price-to-earnings ratio of -1.70 and a beta of 1.18. The business has a 50 day simple moving average of $0.87 and a two-hundred day simple moving average of $0.99.

CarParts.com (NASDAQ:PRTS) last posted its earnings results on Tuesday, May 13th. The specialty retailer reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.15). The firm had revenue of $147.38 million for the quarter, compared to the consensus estimate of $146.14 million. CarParts.com had a negative net margin of 5.11% and a negative return on equity of 29.57%.

Analysts Set New Price Targets

PRTS has been the subject of a number of recent research reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $0.80 price objective on shares of CarParts.com in a research note on Wednesday, May 14th. Craig Hallum upgraded CarParts.com from a “hold” rating to a “buy” rating and set a $3.00 price objective for the company in a research note on Thursday, March 6th. Finally, Wall Street Zen upgraded CarParts.com from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd.

CarParts.com Company Profile

CarParts.com, Inc, together with its subsidiaries, operates as an online provider of aftermarket auto parts and accessories in the United States and the Philippines. It offers replacement parts, such as parts for the exterior of an automobile; mirror products; engine and chassis components, as well as other mechanical and electrical parts; and performance parts and accessories.