Motorcar Parts of America, Inc. (NASDAQ:MPAA) Short Interest Up 21.0% in February

Motorcar Parts of America, Inc. (NASDAQ:MPAA) saw a large growth in short interest in the month of February. As of February 13th, there was short interest totaling 851,183 shares, a growth of 21.0% from the January 29th total of 703,345 shares. Based on an average daily volume of 222,442 shares, the short-interest ratio is currently 3.8 days. Approximately 4.8% of the shares of the company are sold short. Approximately 4.8% of the shares of the company are sold short. Based on an average daily volume of 222,442 shares, the short-interest ratio is currently 3.8 days.

Institutional Trading of Motorcar Parts of America

Several large investors have recently modified their holdings of the business. Cubist Systematic Strategies LLC purchased a new stake in Motorcar Parts of America during the 1st quarter worth approximately $234,000. Goldman Sachs Group Inc. increased its holdings in shares of Motorcar Parts of America by 294.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 105,432 shares of the auto parts company’s stock worth $1,002,000 after acquiring an additional 78,695 shares during the period. Jane Street Group LLC increased its stake in shares of Motorcar Parts of America by 156.0% in the first quarter. Jane Street Group LLC now owns 89,733 shares of the auto parts company’s stock valued at $852,000 after purchasing an additional 54,681 shares during the period. Acadian Asset Management LLC raised its stake in Motorcar Parts of America by 64.6% during the 1st quarter. Acadian Asset Management LLC now owns 36,326 shares of the auto parts company’s stock valued at $343,000 after acquiring an additional 14,251 shares in the last quarter. Finally, Boston Partners bought a new stake in shares of Motorcar Parts of America during the second quarter valued at about $284,000. 83.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MPAA has been the topic of a number of recent analyst reports. Wall Street Zen lowered Motorcar Parts of America from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Zacks Research raised shares of Motorcar Parts of America from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Loop Capital set a $20.00 price target on shares of Motorcar Parts of America in a report on Friday, December 12th. Finally, Weiss Ratings raised shares of Motorcar Parts of America from a “sell (d)” rating to a “hold (c-)” rating in a report on Tuesday, February 10th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $20.00.

Motorcar Parts of America Price Performance

MPAA opened at $10.35 on Friday. Motorcar Parts of America has a 1 year low of $8.17 and a 1 year high of $18.12. The company’s 50 day simple moving average is $11.92 and its 200 day simple moving average is $13.78. The stock has a market capitalization of $198.82 million, a PE ratio of 115.00 and a beta of 1.36. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.41 and a current ratio of 1.43.

Motorcar Parts of America declared that its Board of Directors has approved a share buyback program on Monday, December 8th that authorizes the company to buyback $57.00 million in outstanding shares. This buyback authorization authorizes the auto parts company to buy up to 22.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Motorcar Parts of America Company Profile

Motorcar Parts of America, Inc is a leading North American designer, manufacturer and distributor of aftermarket automotive replacement parts. The company’s product portfolio spans collision and mechanical components, providing solutions for steering and suspension, brake systems, engine cooling, electrical and drivelines. Through a combination of proprietary brands and exclusive licensing agreements, Motorcar Parts of America offers an extensive selection of both new and remanufactured parts to meet the needs of automotive service professionals and retailers.

In addition to its core collision and under-hood product lines, the company markets specialty items such as performance accessories, tools and equipment.