Motorcar Parts of America (NASDAQ:MPAA) Stock Rating Upgraded by StockNews.com

Motorcar Parts of America (NASDAQ:MPAA) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Wednesday.

Motorcar Parts of America Stock Up 2.2 %

Shares of NASDAQ:MPAA opened at $7.00 on Wednesday. Motorcar Parts of America has a 52-week low of $4.36 and a 52-week high of $10.40. The stock has a market cap of $138.25 million, a P/E ratio of -1.92 and a beta of 1.44. The business has a fifty day moving average of $6.08 and a two-hundred day moving average of $5.94. The company has a quick ratio of 0.35, a current ratio of 1.39 and a debt-to-equity ratio of 0.12.

Insider Buying and Selling

In other Motorcar Parts of America news, major shareholder 325 Capital Llc bought 16,608 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was bought at an average price of $6.73 per share, with a total value of $111,771.84. Following the completion of the purchase, the insider now directly owns 1,984,990 shares in the company, valued at $13,358,982.70. The trade was a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Motorcar Parts of America

Several large investors have recently modified their holdings of MPAA. State Board of Administration of Florida Retirement System acquired a new position in Motorcar Parts of America in the first quarter valued at about $90,000. Privium Fund Management UK Ltd raised its stake in shares of Motorcar Parts of America by 22.4% in the 2nd quarter. Privium Fund Management UK Ltd now owns 27,509 shares of the auto parts company’s stock valued at $163,000 after acquiring an additional 5,038 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in shares of Motorcar Parts of America by 24.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 35,003 shares of the auto parts company’s stock worth $216,000 after acquiring an additional 6,979 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of Motorcar Parts of America during the 3rd quarter worth approximately $281,000. Finally, Equitable Trust Co. increased its holdings in Motorcar Parts of America by 9.3% in the 3rd quarter. Equitable Trust Co. now owns 67,965 shares of the auto parts company’s stock valued at $502,000 after purchasing an additional 5,780 shares during the last quarter. Institutional investors and hedge funds own 83.48% of the company’s stock.

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.