Ritholtz Wealth Management Decreases Holdings in Motorcar Parts of America, Inc. $MPAA

Ritholtz Wealth Management reduced its stake in Motorcar Parts of America, Inc. (NASDAQ:MPAA) by 59.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,855 shares of the auto parts company’s stock after selling 69,651 shares during the period. Ritholtz Wealth Management owned approximately 0.24% of Motorcar Parts of America worth $518,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets boosted its position in shares of Motorcar Parts of America by 2,191.3% in the second quarter. BNP Paribas Financial Markets now owns 2,887 shares of the auto parts company’s stock worth $32,000 after buying an additional 2,761 shares during the period. State of Alaska Department of Revenue purchased a new stake in shares of Motorcar Parts of America during the 4th quarter valued at about $63,000. Quarry LP lifted its position in Motorcar Parts of America by 1,117.9% during the 3rd quarter. Quarry LP now owns 4,214 shares of the auto parts company’s stock worth $70,000 after acquiring an additional 3,868 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Motorcar Parts of America by 7,127.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 8,745 shares of the auto parts company’s stock worth $98,000 after acquiring an additional 8,624 shares in the last quarter. Finally, New York State Common Retirement Fund acquired a new position in Motorcar Parts of America during the 2nd quarter worth approximately $109,000. 83.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MPAA shares. Wall Street Zen raised shares of Motorcar Parts of America from a “hold” rating to a “strong-buy” rating in a research report on Saturday, June 13th. Cantor Fitzgerald reissued an “overweight” rating on shares of Motorcar Parts of America in a research report on Tuesday, June 9th. Weiss Ratings upgraded shares of Motorcar Parts of America from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 9th. Finally, Oppenheimer assumed coverage on shares of Motorcar Parts of America in a report on Friday, March 6th. They set an “outperform” rating and a $18.00 price target for the company. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $19.00.

Motorcar Parts of America Trading Up 0.9%

Shares of MPAA opened at $15.32 on Wednesday. The company has a market capitalization of $289.85 million, a P/E ratio of 27.86 and a beta of 1.21. Motorcar Parts of America, Inc. has a one year low of $9.29 and a one year high of $18.12. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.47 and a current ratio of 1.46. The stock has a 50-day moving average price of $12.40 and a 200 day moving average price of $11.91.

Motorcar Parts of America (NASDAQ:MPAA) last posted its quarterly earnings data on Monday, June 8th. The auto parts company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.09. Motorcar Parts of America had a return on equity of 5.53% and a net margin of 1.57%.The company had revenue of $212.28 million for the quarter, compared to the consensus estimate of $175.96 million. During the same period in the previous year, the business earned ($0.04) EPS. Sell-side analysts forecast that Motorcar Parts of America, Inc. will post 0.79 EPS for the current fiscal year.

About Motorcar Parts of America

Motorcar Parts of America, Inc is a leading North American designer, manufacturer and distributor of aftermarket automotive replacement parts. The company’s product portfolio spans collision and mechanical components, providing solutions for steering and suspension, brake systems, engine cooling, electrical and drivelines. Through a combination of proprietary brands and exclusive licensing agreements, Motorcar Parts of America offers an extensive selection of both new and remanufactured parts to meet the needs of automotive service professionals and retailers.

In addition to its core collision and under-hood product lines, the company markets specialty items such as performance accessories, tools and equipment.