Squarepoint Ops LLC Makes New Investment in CarParts.com, Inc. (NASDAQ:PRTS)

Squarepoint Ops LLC acquired a new position in shares of CarParts.com, Inc. (NASDAQ:PRTS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 65,957 shares of the specialty retailer’s stock, valued at approximately $71,000. Squarepoint Ops LLC owned approximately 0.11% of CarParts.com at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Oaktop Capital Management II L.P. boosted its stake in CarParts.com by 23.4% in the fourth quarter. Oaktop Capital Management II L.P. now owns 4,597,302 shares of the specialty retailer’s stock valued at $4,965,000 after acquiring an additional 872,117 shares during the period. Cannell Capital LLC bought a new position in shares of CarParts.com in the fourth quarter valued at $1,249,000. Kerrisdale Advisers LLC grew its position in CarParts.com by 19.0% during the 4th quarter. Kerrisdale Advisers LLC now owns 539,257 shares of the specialty retailer’s stock worth $582,000 after purchasing an additional 86,004 shares in the last quarter. Manatuck Hill Partners LLC grew its position in CarParts.com by 66.7% during the 4th quarter. Manatuck Hill Partners LLC now owns 500,000 shares of the specialty retailer’s stock worth $540,000 after purchasing an additional 200,000 shares in the last quarter. Finally, Two Sigma Investments LP grew its position in CarParts.com by 46.9% during the 4th quarter. Two Sigma Investments LP now owns 358,804 shares of the specialty retailer’s stock worth $388,000 after purchasing an additional 114,610 shares in the last quarter. Institutional investors and hedge funds own 75.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on PRTS shares. Royal Bank of Canada restated a “sector perform” rating and set a $0.80 price target on shares of CarParts.com in a report on Wednesday, May 14th. Craig Hallum raised shares of CarParts.com from a “hold” rating to a “buy” rating and set a $3.00 price objective for the company in a research report on Thursday, March 6th. Finally, Wall Street Zen raised shares of CarParts.com from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd.

CarParts.com Trading Up 1.1%

Shares of NASDAQ:PRTS opened at $0.93 on Wednesday. The firm has a market cap of $54.50 million, a price-to-earnings ratio of -1.73 and a beta of 1.18. CarParts.com, Inc. has a 12 month low of $0.68 and a 12 month high of $1.45. The company’s fifty day simple moving average is $0.86 and its 200 day simple moving average is $0.99. The company has a quick ratio of 0.57, a current ratio of 1.62 and a debt-to-equity ratio of 0.10.

CarParts.com (NASDAQ:PRTS) last released its earnings results on Tuesday, May 13th. The specialty retailer reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.15). CarParts.com had a negative net margin of 5.11% and a negative return on equity of 29.57%. The business had revenue of $147.38 million during the quarter, compared to the consensus estimate of $146.14 million.

About CarParts.com

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.