Renaissance Technologies LLC Has $1.20 Million Position in CarParts.com, Inc. (NASDAQ:PRTS)

Renaissance Technologies LLC increased its stake in shares of CarParts.com, Inc. (NASDAQ:PRTS) by 24.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,198,500 shares of the specialty retailer’s stock after buying an additional 232,500 shares during the quarter. Renaissance Technologies LLC owned about 2.11% of CarParts.com worth $1,198,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of PRTS. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of CarParts.com during the 1st quarter valued at $33,000. Cullen Frost Bankers Inc. acquired a new stake in shares of CarParts.com in the 2nd quarter valued at about $50,000. Sierra Summit Advisors LLC acquired a new stake in shares of CarParts.com in the 4th quarter valued at about $344,000. Williams & Novak LLC acquired a new stake in shares of CarParts.com in the 2nd quarter valued at about $114,000. Finally, Dynamic Advisor Solutions LLC boosted its stake in CarParts.com by 73.7% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 129,327 shares of the specialty retailer’s stock valued at $129,000 after purchasing an additional 54,869 shares during the last quarter. Institutional investors and hedge funds own 75.30% of the company’s stock.

CarParts.com Price Performance

Shares of NASDAQ PRTS opened at $0.90 on Friday. CarParts.com, Inc. has a twelve month low of $0.72 and a twelve month high of $4.17. The stock’s 50 day moving average price is $0.87 and its 200-day moving average price is $1.10. The company has a market capitalization of $51.31 million, a PE ratio of -3.35 and a beta of 2.06. The company has a quick ratio of 0.51, a current ratio of 1.67 and a debt-to-equity ratio of 0.10.

CarParts.com (NASDAQ:PRTS) last announced its 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 return on equity of 21.44% and a negative net margin of 3.75%. The business had revenue of $144.27 million during the quarter. During the same quarter in the previous year, the firm earned ($0.01) EPS.

Wall Street Analysts Forecast Growth

PRTS has been the subject of a number of analyst reports. StockNews.com downgraded CarParts.com from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Royal Bank of Canada reiterated a “sector perform” rating and set a $1.30 price target (down previously from $2.00) on shares of CarParts.com in a research note on Wednesday, July 31st. Finally, Lake Street Capital cut their price target on CarParts.com from $3.00 to $2.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, CarParts.com currently has a consensus rating of “Hold” and a consensus price target of $2.33.

CarParts.com Company 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.