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

StockNews.com cut shares of Motorcar Parts of America (NASDAQ:MPAA) from a strong-buy rating to a buy rating in a report released on Tuesday morning.

Motorcar Parts of America Stock Performance

Shares of NASDAQ MPAA opened at $9.10 on Tuesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.39 and a current ratio of 1.45. The stock has a 50 day moving average price of $9.84 and a 200 day moving average price of $7.90. The stock has a market capitalization of $178.21 million, a PE ratio of -9.19 and a beta of 1.29. Motorcar Parts of America has a 52 week low of $4.36 and a 52 week high of $11.89.

Hedge Funds Weigh In On Motorcar Parts of America

Institutional investors and hedge funds have recently made changes to their positions in the company. Ritholtz Wealth Management acquired a new position in shares of Motorcar Parts of America during the 1st quarter worth approximately $359,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Motorcar Parts of America in the fourth quarter valued at approximately $97,000. Millennium Management LLC grew its position in Motorcar Parts of America by 39.3% during the fourth quarter. Millennium Management LLC now owns 82,056 shares of the auto parts company’s stock worth $624,000 after buying an additional 23,164 shares in the last quarter. D. E. Shaw & Co. Inc. increased its stake in Motorcar Parts of America by 10.6% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 142,497 shares of the auto parts company’s stock worth $1,083,000 after acquiring an additional 13,644 shares during the period. Finally, Balyasny Asset Management L.P. acquired a new position in Motorcar Parts of America in the 4th quarter valued at $88,000. 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.