Cantor Fitzgerald Initiates Coverage on Motorcar Parts of America (NASDAQ:MPAA)

Research analysts at Cantor Fitzgerald started coverage on shares of Motorcar Parts of America (NASDAQ:MPAA) in a report issued on Friday, Marketbeat reports. The firm set an “overweight” rating and a $14.00 price target on the auto parts company’s stock. Cantor Fitzgerald’s price objective points to a potential upside of 76.99% from the company’s previous close.

Separately, StockNews.com upgraded shares of Motorcar Parts of America from a “hold” rating to a “buy” rating in a report on Wednesday, November 13th.

Motorcar Parts of America Trading Up 1.3 %

Shares of MPAA stock opened at $7.91 on Friday. The business’s fifty day moving average price is $6.70 and its 200 day moving average price is $6.35. The firm has a market capitalization of $157.01 million, a PE ratio of -2.26 and a beta of 1.53. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.39 and a quick ratio of 0.43. Motorcar Parts of America has a 1-year low of $4.36 and a 1-year high of $10.40.

Insider Transactions at Motorcar Parts of America

In other Motorcar Parts of America news, Director Bison Capital Partners Vi, L.P acquired 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were acquired at an average cost of $6.86 per share, for a total transaction of $343,000.00. Following the transaction, the director now directly owns 320,300 shares of the company’s stock, valued at approximately $2,197,258. This represents a 18.50 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 business. Azarias Capital Management L.P. grew its position in shares of Motorcar Parts of America by 0.8% in the second quarter. Azarias Capital Management L.P. now owns 1,223,381 shares of the auto parts company’s stock valued at $7,548,000 after purchasing an additional 9,879 shares during the last quarter. Privium Fund Management UK Ltd lifted its stake in Motorcar Parts of America by 22.4% in the 2nd quarter. Privium Fund Management UK Ltd now owns 27,509 shares of the auto parts company’s stock valued at $163,000 after buying an additional 5,038 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Motorcar Parts of America by 4.8% during the 2nd quarter. Victory Capital Management Inc. now owns 88,000 shares of the auto parts company’s stock valued at $543,000 after buying an additional 4,000 shares during the last quarter. American Century Companies Inc. increased its position in Motorcar Parts of America by 2.2% during the second quarter. American Century Companies Inc. now owns 209,443 shares of the auto parts company’s stock worth $1,292,000 after buying an additional 4,595 shares in the last quarter. Finally, Perritt Capital Management Inc raised its holdings in shares of Motorcar Parts of America by 6.7% in the second quarter. Perritt Capital Management Inc now owns 78,050 shares of the auto parts company’s stock worth $482,000 after acquiring an additional 4,867 shares during the last quarter. Institutional investors and hedge funds own 83.48% of the company’s stock.

Motorcar Parts of America Company Profile

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.