Mackenzie Financial Corp Has $36,000 Holdings in CarParts.com, Inc. (NASDAQ:PRTS)

Mackenzie Financial Corp trimmed its stake in shares of CarParts.com, Inc. (NASDAQ:PRTS) by 27.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,755 shares of the specialty retailer’s stock after selling 13,373 shares during the period. Mackenzie Financial Corp owned approximately 0.06% of CarParts.com worth $36,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PRTS. Mirae Asset Global Investments Co. Ltd. acquired a new position in CarParts.com during the 1st quarter worth $33,000. Cullen Frost Bankers Inc. acquired a new position in shares of CarParts.com during the second quarter valued at $50,000. XTX Topco Ltd boosted its holdings in CarParts.com by 41.2% in the second quarter. XTX Topco Ltd now owns 68,687 shares of the specialty retailer’s stock valued at $69,000 after acquiring an additional 20,037 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in CarParts.com in the second quarter worth about $93,000. Finally, Williams & Novak LLC acquired a new stake in shares of CarParts.com during the 2nd quarter worth approximately $114,000. 75.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on PRTS shares. StockNews.com downgraded CarParts.com from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Lake Street Capital decreased their price objective on shares of CarParts.com from $3.00 to $2.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $1.30 target price (down previously from $2.00) on shares of CarParts.com in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CarParts.com currently has a consensus rating of “Hold” and a consensus target price of $2.33.

CarParts.com Stock Performance

NASDAQ PRTS opened at $0.91 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.67 and a quick ratio of 0.51. The stock’s 50-day moving average is $0.87 and its 200-day moving average is $1.09. CarParts.com, Inc. has a one year low of $0.72 and a one year high of $4.17. The firm has a market cap of $51.59 million, a P/E ratio of -3.37 and a beta of 2.06.

CarParts.com (NASDAQ:PRTS) last announced its quarterly earnings results on Tuesday, July 30th. The specialty retailer reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.05). CarParts.com had a negative net margin of 3.75% and a negative return on equity of 21.44%. The company had revenue of $144.27 million during the quarter. During the same quarter in the prior year, the firm posted ($0.01) earnings per share.

CarParts.com 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.