Granite Point Capital Management L.P. Acquires New Stake in Motorcar Parts of America, Inc. (MPAA)

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Granite Point Capital Management L.P. acquired a new stake in shares of Motorcar Parts of America, Inc. (NASDAQ:MPAA) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 32,316 shares of the auto parts company’s stock, valued at approximately $538,000. Granite Point Capital Management L.P. owned about 0.17% of Motorcar Parts of America at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Motorcar Parts of America by 2.7% in the third quarter. BlackRock Inc. now owns 2,725,459 shares of the auto parts company’s stock worth $63,911,000 after purchasing an additional 72,547 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Motorcar Parts of America by 2.6% in the third quarter. Dimensional Fund Advisors LP now owns 1,592,497 shares of the auto parts company’s stock worth $37,344,000 after purchasing an additional 40,546 shares during the last quarter. Private Capital Management LLC boosted its position in Motorcar Parts of America by 1.6% in the third quarter. Private Capital Management LLC now owns 1,458,150 shares of the auto parts company’s stock worth $34,194,000 after purchasing an additional 22,890 shares during the last quarter. Vanguard Group Inc. boosted its position in Motorcar Parts of America by 20.2% in the third quarter. Vanguard Group Inc. now owns 1,152,737 shares of the auto parts company’s stock worth $27,031,000 after purchasing an additional 193,851 shares during the last quarter. Finally, Vanguard Group Inc raised its stake in shares of Motorcar Parts of America by 20.2% in the third quarter. Vanguard Group Inc now owns 1,152,737 shares of the auto parts company’s stock worth $27,031,000 after buying an additional 193,851 shares during the period.

Several research analysts have recently commented on the company. CL King downgraded Motorcar Parts of America from a “buy” rating to a “neutral” rating in a research note on Friday, November 9th. BidaskClub raised Motorcar Parts of America from a “strong sell” rating to a “sell” rating in a research note on Wednesday, November 7th. Craig Hallum assumed coverage on Motorcar Parts of America in a research note on Tuesday, January 8th. They issued a “buy” rating and a $28.00 price objective on the stock. ValuEngine raised Motorcar Parts of America from a “strong sell” rating to a “sell” rating in a research note on Sunday, October 28th. Finally, Zacks Investment Research downgraded Motorcar Parts of America from a “hold” rating to a “sell” rating in a research note on Thursday, January 17th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Motorcar Parts of America has a consensus rating of “Hold” and an average price target of $30.00.

In other Motorcar Parts of America news, Director Barbara L. Whittaker bought 2,000 shares of the firm’s stock in a transaction that occurred on Monday, January 14th. The shares were bought at an average price of $19.77 per share, with a total value of $39,540.00. Following the purchase, the director now owns 3,719 shares of the company’s stock, valued at $73,524.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 4.70% of the stock is currently owned by company insiders.

NASDAQ MPAA opened at $19.49 on Monday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.52 and a current ratio of 1.43. Motorcar Parts of America, Inc. has a 52 week low of $12.09 and a 52 week high of $27.19. The stock has a market capitalization of $376.39 million, a PE ratio of 11.46 and a beta of 1.56.

Motorcar Parts of America (NASDAQ:MPAA) last posted its quarterly earnings data on Tuesday, January 8th. The auto parts company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.51 by $0.09. Motorcar Parts of America had a return on equity of 10.81% and a net margin of 0.20%. The firm had revenue of $127.94 million for the quarter, compared to the consensus estimate of $120.63 million. During the same quarter last year, the company earned $0.52 earnings per share. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. On average, equities analysts predict that Motorcar Parts of America, Inc. will post 1.63 EPS for the current fiscal year.

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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.

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

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