Cinctive Capital Management LP Buys Shares of 16,856 Dorman Products, Inc. (NASDAQ:DORM)

Cinctive Capital Management LP purchased a new position in Dorman Products, Inc. (NASDAQ:DORM - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 16,856 shares of the auto parts company's stock, valued at approximately $1,907,000. Cinctive Capital Management LP owned 0.06% of Dorman Products as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of DORM. Farther Finance Advisors LLC increased its stake in shares of Dorman Products by 5,460.0% during the third quarter. Farther Finance Advisors LLC now owns 278 shares of the auto parts company's stock worth $31,000 after purchasing an additional 273 shares during the period. Advisors Asset Management Inc. bought a new position in shares of Dorman Products in the 3rd quarter worth about $31,000. Quest Partners LLC bought a new position in shares of Dorman Products in the 2nd quarter worth about $37,000. Covestor Ltd increased its position in Dorman Products by 781.4% in the 3rd quarter. Covestor Ltd now owns 379 shares of the auto parts company's stock valued at $43,000 after buying an additional 336 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Dorman Products by 63.2% during the 3rd quarter. GAMMA Investing LLC now owns 483 shares of the auto parts company's stock worth $55,000 after purchasing an additional 187 shares in the last quarter. 84.70% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Jeffery Darby sold 2,400 shares of Dorman Products stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $118.98, for a total value of $285,552.00. Following the transaction, the senior vice president now owns 19,871 shares of the company's stock, valued at $2,364,251.58. This trade represents a 10.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Steven L. Berman sold 27,632 shares of Dorman Products stock in a transaction on Monday, September 16th. The stock was sold at an average price of $115.72, for a total transaction of $3,197,575.04. Following the sale, the director now owns 936,024 shares in the company, valued at $108,316,697.28. This represents a 2.87 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,988 shares of company stock valued at $7,795,833. Company insiders own 10.00% of the company's stock.

Dorman Products Stock Performance

DORM traded up $1.50 on Wednesday, reaching $139.96. The stock had a trading volume of 146,863 shares, compared to its average volume of 137,158. The company has a market cap of $4.27 billion, a P/E ratio of 23.15 and a beta of 0.87. Dorman Products, Inc. has a 12-month low of $74.24 and a 12-month high of $146.60. The business's 50-day moving average price is $124.51 and its two-hundred day moving average price is $108.80. The company has a current ratio of 2.34, a quick ratio of 1.16 and a debt-to-equity ratio of 0.37.

Dorman Products (NASDAQ:DORM - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The auto parts company reported $1.96 EPS for the quarter, topping analysts' consensus estimates of $1.53 by $0.43. Dorman Products had a net margin of 9.43% and a return on equity of 16.95%. The company had revenue of $503.77 million during the quarter, compared to the consensus estimate of $509.54 million. During the same quarter in the prior year, the firm earned $1.40 EPS. Dorman Products's quarterly revenue was up 3.2% on a year-over-year basis. Sell-side analysts forecast that Dorman Products, Inc. will post 6.9 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on DORM. Roth Mkm reissued a "buy" rating and set a $153.00 target price (up previously from $126.00) on shares of Dorman Products in a report on Monday, November 4th. CJS Securities began coverage on shares of Dorman Products in a report on Friday, September 13th. They set an "outperform" rating and a $134.00 target price for the company. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Dorman Products has a consensus rating of "Buy" and a consensus target price of $125.67.

About Dorman Products

Dorman Products, Inc supplies replacement and upgrade parts for passenger cars, light trucks, medium- and heavy-duty trucks, utility terrain vehicles, and all-terrain vehicles in the motor vehicle aftermarket industry in the United States and internationally. It offers engine products, including intake and exhaust manifolds, fans, thermostat housings, and throttle bodies; undercar products comprising fluid lines, fluid reservoirs, connectors, 4-wheel drive components and axles, drain plugs, other engine, and transmission and axle components; steering and suspension products consist of control arms, ball joints, tie-rod ends, brake hardware and hydraulics, wheel and axle hardware, suspension arms, knuckles, links, bushings, and leaf springs, as well as other suspension, steering, and brake components; body products, such as door handles and hinges, window lift motors, window regulators, switches and handles, wiper components, lighting, electrical, and other interior and exterior vehicle body components, including windshields for UTVs; electronics products comprise new and remanufactured modules, clusters and sensors; and hardware products, such as threaded bolts and auto body fasteners, automotive and home electrical wiring components, and other hardware assortments and merchandise.