Putnam Investments LLC Makes New Investment in Motorcar Parts of America, Inc. (NASDAQ:MPAA)

Putnam Investments LLC acquired a new position in Motorcar Parts of America, Inc. (NASDAQ:MPAA – Get Rating) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 139,574 shares of the auto parts company’s stock, valued at approximately $2,125,000. Putnam Investments LLC owned about 0.72% of Motorcar Parts of America at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MPAA. Gladius Capital Management LP bought a new stake in Motorcar Parts of America in the second quarter worth about $40,000. Mutual of America Capital Management LLC lifted its stake in Motorcar Parts of America by 19.2% in the third quarter. Mutual of America Capital Management LLC now owns 3,826 shares of the auto parts company’s stock worth $58,000 after purchasing an additional 617 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Motorcar Parts of America in the third quarter worth about $90,000. Royal Bank of Canada lifted its stake in Motorcar Parts of America by 14.5% in the third quarter. Royal Bank of Canada now owns 9,403 shares of the auto parts company’s stock worth $143,000 after purchasing an additional 1,188 shares during the last quarter. Finally, Bank of Montreal Can bought a new stake in Motorcar Parts of America in the second quarter worth about $163,000. Institutional investors own 92.69% of the company’s stock.

Motorcar Parts of America Trading Down 4.2 %

Motorcar Parts of America stock opened at $10.10 on Monday. The company has a 50 day moving average price of $13.24 and a 200-day moving average price of $14.07. The company has a quick ratio of 0.35, a current ratio of 1.30 and a debt-to-equity ratio of 0.03. Motorcar Parts of America, Inc. has a fifty-two week low of $9.74 and a fifty-two week high of $19.93.

Wall Street Analyst Weigh In

Separately, Roth Mkm decreased their price target on shares of Motorcar Parts of America from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, February 13th.

Motorcar Parts of America Profile

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Motorcar Parts of America, Inc engages in manufacturing, remanufacturing, and distribution of automotive parts. Its products include starters, alternators, wheel hub assemblies and bearings, drums and rotors, brake pads and shoes, calipers, brake master cylinders, brake power boosters, and turbochargers.