Renaissance Technologies LLC Purchases 98,700 Shares of Motorcar Parts of America, Inc. (NASDAQ:MPAA)

Renaissance Technologies LLC lifted its position in Motorcar Parts of America, Inc. (NASDAQ:MPAA) by 829.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 110,600 shares of the auto parts company’s stock after acquiring an additional 98,700 shares during the quarter. Renaissance Technologies LLC owned 0.56% of Motorcar Parts of America worth $682,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Victory Capital Management Inc. raised its position in Motorcar Parts of America by 4.8% in the 2nd quarter. Victory Capital Management Inc. now owns 88,000 shares of the auto parts company’s stock worth $543,000 after purchasing an additional 4,000 shares during the period. American Century Companies Inc. grew its stake in shares of Motorcar Parts of America by 2.2% during the second quarter. American Century Companies Inc. now owns 209,443 shares of the auto parts company’s stock valued at $1,292,000 after buying an additional 4,595 shares during the last quarter. Perritt Capital Management Inc raised its holdings in shares of Motorcar Parts of America by 6.7% in the second quarter. Perritt Capital Management Inc now owns 78,050 shares of the auto parts company’s stock worth $482,000 after buying an additional 4,867 shares during the period. Privium Fund Management UK Ltd lifted its stake in shares of Motorcar Parts of America by 22.4% during the 2nd quarter. Privium Fund Management UK Ltd now owns 27,509 shares of the auto parts company’s stock worth $163,000 after acquiring an additional 5,038 shares during the last quarter. Finally, Perritt Capital Management Inc. boosted its holdings in Motorcar Parts of America by 7.8% during the 1st quarter. Perritt Capital Management Inc. now owns 73,183 shares of the auto parts company’s stock valued at $588,000 after acquiring an additional 5,267 shares during the period. 83.48% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, major shareholder 325 Capital Llc bought 16,608 shares of the stock in a transaction on Tuesday, August 27th. The stock was acquired at an average cost of $6.73 per share, for a total transaction of $111,771.84. Following the acquisition, the insider now owns 1,984,990 shares of the company’s stock, valued at $13,358,982.70. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Motorcar Parts of America from a “buy” rating to a “hold” rating in a research note on Thursday, June 13th.

Motorcar Parts of America Trading Down 6.6 %

MPAA stock opened at $6.12 on Wednesday. Motorcar Parts of America, Inc. has a 12 month low of $4.36 and a 12 month high of $10.40. The firm’s 50-day moving average is $6.30 and its 200 day moving average is $6.08. The company has a market capitalization of $120.33 million, a PE ratio of -2.35 and a beta of 1.41. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.38 and a quick ratio of 0.35.

Motorcar Parts of America (NASDAQ:MPAA) last issued its earnings results on Thursday, August 8th. The auto parts company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.39). Motorcar Parts of America had a negative return on equity of 0.93% and a negative net margin of 9.06%. The company had revenue of $169.89 million for the quarter, compared to analysts’ expectations of $172.50 million. On average, research analysts anticipate that Motorcar Parts of America, Inc. will post 0.35 EPS for the current year.

About Motorcar Parts of America

Motorcar Parts of America, Inc manufactures, remanufactures, and distributes heavy-duty truck, industrial, marine, and agricultural application replacement parts in the United States. The company offers rotating electrical products, including alternators and starters; wheel hub assemblies and bearings; and brake-related products comprising brake calipers, brake boosters, brake rotors, brake pads, and brake master cylinders.