Cove Street Capital LLC cut its stake in Motorcar Parts of America, Inc. (NASDAQ:MPAA - Free Report) by 72.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 73,378 shares of the auto parts company's stock after selling 192,689 shares during the quarter. Cove Street Capital LLC owned 0.37% of Motorcar Parts of America worth $559,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Barclays PLC acquired a new position in Motorcar Parts of America during the third quarter valued at approximately $79,000. Bailard Inc. acquired a new position in shares of Motorcar Parts of America in the 4th quarter valued at $201,000. Atlas Legacy Advisors LLC bought a new stake in shares of Motorcar Parts of America in the 4th quarter valued at $580,000. Captrust Financial Advisors raised its stake in Motorcar Parts of America by 3.1% during the 3rd quarter. Captrust Financial Advisors now owns 99,635 shares of the auto parts company's stock worth $736,000 after buying an additional 3,005 shares during the period. Finally, Victory Capital Management Inc. raised its stake in Motorcar Parts of America by 14.9% during the 4th quarter. Victory Capital Management Inc. now owns 110,310 shares of the auto parts company's stock worth $838,000 after buying an additional 14,310 shares during the period. 83.48% of the stock is currently owned by institutional investors and hedge funds.
Motorcar Parts of America Stock Down 4.9 %
Shares of NASDAQ MPAA traded down $0.46 during midday trading on Thursday, reaching $9.00. The company's stock had a trading volume of 31,272 shares, compared to its average volume of 92,736. The stock has a 50 day simple moving average of $9.17 and a 200-day simple moving average of $7.65. The company has a current ratio of 1.45, a quick ratio of 0.39 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $176.26 million, a price-to-earnings ratio of -9.09 and a beta of 1.35. Motorcar Parts of America, Inc. has a fifty-two week low of $4.36 and a fifty-two week high of $12.50.
Analysts Set New Price Targets
Several analysts have commented on the stock. StockNews.com upgraded shares of Motorcar Parts of America from a "buy" rating to a "strong-buy" rating in a report on Friday, March 21st. Cantor Fitzgerald started coverage on Motorcar Parts of America in a research report on Friday, December 20th. They set an "overweight" rating and a $14.00 price objective for the company.
Read Our Latest Research Report on MPAA
Motorcar Parts of America Company Profile
(
Free Report)
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.
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