Insider Buying: U.S. Auto Parts Network, Inc. (PRTS) Major Shareholder Purchases 388,804 Shares of Stock

U.S. Auto Parts Network, Inc. (NASDAQ:PRTS) major shareholder David Kanen acquired 388,804 shares of the firm’s stock in a transaction dated Thursday, November 29th. The shares were bought at an average cost of $1.11 per share, with a total value of $431,572.44. Following the completion of the acquisition, the insider now directly owns 173,513 shares of the company’s stock, valued at $192,599.43. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

David Kanen also recently made the following trade(s):

  • On Monday, December 3rd, David Kanen acquired 15,805 shares of U.S. Auto Parts Network stock. The shares were bought at an average cost of $1.24 per share, with a total value of $19,598.20.
  • On Thursday, December 6th, David Kanen acquired 1,576,228 shares of U.S. Auto Parts Network stock. The shares were bought at an average cost of $1.21 per share, with a total value of $1,907,235.88.

Shares of PRTS traded up $0.03 during mid-day trading on Friday, hitting $1.26. 150,000 shares of the company traded hands, compared to its average volume of 163,486. The company has a quick ratio of 0.29, a current ratio of 1.31 and a debt-to-equity ratio of 0.20. U.S. Auto Parts Network, Inc. has a 1 year low of $0.99 and a 1 year high of $2.74. The stock has a market capitalization of $43.73 million, a price-to-earnings ratio of 12.60 and a beta of 0.86.

U.S. Auto Parts Network (NASDAQ:PRTS) last released its quarterly earnings data on Monday, October 29th. The specialty retailer reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.02. The firm had revenue of $69.46 million during the quarter, compared to analysts’ expectations of $71.59 million. U.S. Auto Parts Network had a negative net margin of 1.16% and a positive return on equity of 2.10%.

Several research analysts have recently weighed in on PRTS shares. Zacks Investment Research cut shares of U.S. Auto Parts Network from a “buy” rating to a “hold” rating in a report on Tuesday, November 6th. Barrington Research started coverage on shares of U.S. Auto Parts Network in a report on Thursday, September 13th. They set an “outperform” rating and a $5.00 price objective for the company. Finally, ValuEngine cut shares of U.S. Auto Parts Network from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. North Star Investment Management Corp. grew its position in U.S. Auto Parts Network by 13.9% during the third quarter. North Star Investment Management Corp. now owns 1,733,335 shares of the specialty retailer’s stock valued at $2,687,000 after buying an additional 211,000 shares during the period. B. Riley Financial Inc. bought a new stake in U.S. Auto Parts Network during the second quarter valued at approximately $273,000. Finally, Bard Associates Inc. bought a new stake in U.S. Auto Parts Network during the second quarter valued at approximately $225,000. Institutional investors own 35.69% of the company’s stock.

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About U.S. Auto Parts Network

U.S. Auto Parts Network, Inc, together with its subsidiaries, operates as an online provider of aftermarket auto parts and accessories primarily in the United States and the Philippines. It offers collision parts, such as parts for the exterior of an automobile; mirror products; engine parts comprising engine and chassis components, as well as other mechanical and electrical parts; and performance parts and accessories to individual consumers through its network of e-commerce Websites and online marketplaces.

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