WCM Investment Management CA Increases Stake in Motorcar Parts of America, Inc. (MPAA)

WCM Investment Management CA lifted its stake in shares of Motorcar Parts of America, Inc. (NASDAQ:MPAA) by 218.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 119,490 shares of the auto parts company’s stock after purchasing an additional 81,960 shares during the quarter. WCM Investment Management CA owned about 0.63% of Motorcar Parts of America worth $2,561,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in MPAA. Intrinsic Edge Capital Management LLC acquired a new stake in shares of Motorcar Parts of America during the 1st quarter worth approximately $2,546,000. Thompson Siegel & Walmsley LLC increased its position in Motorcar Parts of America by 40.6% in the 1st quarter. Thompson Siegel & Walmsley LLC now owns 405,947 shares of the auto parts company’s stock valued at $8,699,000 after acquiring an additional 117,182 shares during the period. Kornitzer Capital Management Inc. KS increased its position in Motorcar Parts of America by 31.4% in the 1st quarter. Kornitzer Capital Management Inc. KS now owns 456,006 shares of the auto parts company’s stock valued at $9,772,000 after acquiring an additional 108,950 shares during the period. BlackRock Inc. increased its position in Motorcar Parts of America by 3.7% in the 4th quarter. BlackRock Inc. now owns 2,439,954 shares of the auto parts company’s stock valued at $60,974,000 after acquiring an additional 88,097 shares during the period. Finally, Victory Capital Management Inc. increased its position in Motorcar Parts of America by 1,036.3% in the 4th quarter. Victory Capital Management Inc. now owns 66,653 shares of the auto parts company’s stock valued at $1,666,000 after acquiring an additional 60,787 shares during the period.

Several research firms recently commented on MPAA. B. Riley restated a “buy” rating and issued a $39.00 target price on shares of Motorcar Parts of America in a research report on Monday, February 12th. Zacks Investment Research cut Motorcar Parts of America from a “hold” rating to a “sell” rating in a research report on Thursday, February 8th. BidaskClub cut Motorcar Parts of America from a “sell” rating to a “strong sell” rating in a research report on Wednesday, April 4th. ValuEngine cut Motorcar Parts of America from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, Roth Capital set a $26.00 target price on Motorcar Parts of America and gave the company a “buy” rating in a research report on Monday, February 12th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $34.00.

Shares of Motorcar Parts of America opened at $21.40 on Friday, Marketbeat reports. Motorcar Parts of America, Inc. has a 1 year low of $18.53 and a 1 year high of $30.67. The firm has a market cap of $408.75 million, a PE ratio of 9.60, a PEG ratio of 0.36 and a beta of 1.19. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.18 and a current ratio of 0.74.

Motorcar Parts of America announced that its Board of Directors has initiated a share buyback plan on Friday, February 9th that allows the company to repurchase $5.00 million in shares. This repurchase authorization allows the auto parts company to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

About Motorcar Parts of America

Motorcar Parts of America, Inc manufactures, remanufactures, and distributes automotive aftermarket parts. The company offers rotating electrical products, including alternators and starters; wheel hub assemblies and bearings; brake master cylinders; and other products, such as turbochargers and brake power boosters for import and domestic cars, light trucks, heavy duty, agricultural, and industrial applications.

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Institutional Ownership by Quarter for Motorcar Parts of America (NASDAQ:MPAA)

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