StockNews.com Upgrades Motorcar Parts of America (NASDAQ:MPAA) to Buy

StockNews.com upgraded shares of Motorcar Parts of America (NASDAQ:MPAA) from a hold rating to a buy rating in a research report released on Wednesday.

Motorcar Parts of America Stock Performance

Shares of MPAA opened at $7.02 on Wednesday. The stock’s fifty day simple moving average is $6.12 and its 200-day simple moving average is $5.95. Motorcar Parts of America has a 12-month low of $4.36 and a 12-month high of $10.40. 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 at Motorcar Parts of America

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

Hedge Funds Weigh In On Motorcar Parts of America

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its position in shares of Motorcar Parts of America by 15.1% in the 3rd quarter. Geode Capital Management LLC now owns 212,994 shares of the auto parts company’s stock valued at $1,574,000 after acquiring an additional 27,961 shares during the period. Barclays PLC bought a new stake in Motorcar Parts of America in the third quarter valued at approximately $79,000. Captrust Financial Advisors increased its stake in Motorcar Parts of America by 3.1% in the third quarter. Captrust Financial Advisors now owns 99,635 shares of the auto parts company’s stock valued at $736,000 after purchasing an additional 3,005 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in Motorcar Parts of America by 20.6% in the third quarter. Oppenheimer Asset Management Inc. now owns 42,201 shares of the auto parts company’s stock worth $312,000 after purchasing an additional 7,198 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of Motorcar Parts of America by 9.1% during the third quarter. Victory Capital Management Inc. now owns 96,000 shares of the auto parts company’s stock worth $709,000 after purchasing an additional 8,000 shares in the last quarter. Institutional investors 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.