Motorcar Parts of America, Inc. (NASDAQ:MPAA) Shares Sold by Raymond James & Associates

Raymond James & Associates lessened its holdings in Motorcar Parts of America, Inc. (NASDAQ:MPAA) by 14.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 132,399 shares of the auto parts company’s stock after selling 22,110 shares during the quarter. Raymond James & Associates owned 0.70% of Motorcar Parts of America worth $2,203,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of MPAA. Arizona State Retirement System raised its stake in shares of Motorcar Parts of America by 6.2% in the fourth quarter. Arizona State Retirement System now owns 29,130 shares of the auto parts company’s stock worth $485,000 after purchasing an additional 1,690 shares during the last quarter. Wells Fargo & Company MN raised its position in Motorcar Parts of America by 1.3% during the third quarter. Wells Fargo & Company MN now owns 210,304 shares of the auto parts company’s stock valued at $4,932,000 after acquiring an additional 2,634 shares in the last quarter. Victory Capital Management Inc. raised its position in Motorcar Parts of America by 3.7% during the third quarter. Victory Capital Management Inc. now owns 75,100 shares of the auto parts company’s stock valued at $1,761,000 after acquiring an additional 2,700 shares in the last quarter. Legal & General Group Plc raised its position in Motorcar Parts of America by 7.3% during the third quarter. Legal & General Group Plc now owns 39,992 shares of the auto parts company’s stock valued at $941,000 after acquiring an additional 2,715 shares in the last quarter. Finally, Cutler Group LP raised its position in Motorcar Parts of America by 183.8% during the fourth quarter. Cutler Group LP now owns 1,844 shares of the auto parts company’s stock valued at $30,000 after acquiring an additional 4,044 shares in the last quarter.

Shares of Motorcar Parts of America stock traded down $0.33 on Monday, reaching $20.00. The company’s stock had a trading volume of 69,919 shares, compared to its average volume of 156,239. The stock has a market capitalization of $382.41 million, a PE ratio of 11.76 and a beta of 1.44. Motorcar Parts of America, Inc. has a 52-week low of $12.09 and a 52-week high of $27.19. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.32 and a quick ratio of 0.45.

Motorcar Parts of America (NASDAQ:MPAA) last posted its quarterly earnings data on Monday, February 11th. The auto parts company reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.03). The business had revenue of $124.10 million during the quarter, compared to analysts’ expectations of $115.98 million. Motorcar Parts of America had a net margin of 0.99% and a return on equity of 10.42%. The firm’s quarterly revenue was up 20.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.34 earnings per share. On average, equities research analysts anticipate that Motorcar Parts of America, Inc. will post 1.46 EPS for the current fiscal year.

MPAA has been the subject of several recent research reports. ValuEngine upgraded Motorcar Parts of America from a “strong sell” rating to a “sell” rating in a research report on Monday, January 7th. BidaskClub upgraded Motorcar Parts of America from a “strong sell” rating to a “sell” rating in a research report on Monday, January 7th. Craig Hallum initiated coverage on Motorcar Parts of America in a research report on Tuesday, January 8th. They set a “buy” rating and a $28.00 price target for the company. Finally, Zacks Investment Research cut Motorcar Parts of America from a “hold” rating to a “sell” rating in a research report on Thursday, January 17th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. Motorcar Parts of America currently has a consensus rating of “Hold” and an average target price of $27.00.

In other news, Director Rudolph J. Borneo sold 1,674 shares of the business’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $21.54, for a total value of $36,057.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.70% of the stock is owned by insiders.

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About Motorcar Parts of America

Motorcar Parts of America, Inc manufactures, remanufactures, and distributes heavy duty trucks, and industrial and agricultural application 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, brake power boosters, and diagnostic equipment.

Further Reading: Dividend

Institutional Ownership by Quarter for Motorcar Parts of America (NASDAQ:MPAA)

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