North Star Investment Management Corp. increased its stake in U.S. Auto Parts Network, Inc. (NASDAQ:PRTS) by 14.7% during the second quarter, Holdings Channel reports. The firm owned 710,025 shares of the specialty retailer’s stock after buying an additional 91,000 shares during the period. North Star Investment Management Corp.’s holdings in U.S. Auto Parts Network were worth $2,293,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the company. Thomson Horstmann & Bryant Inc. raised its position in shares of U.S. Auto Parts Network by 389.7% in the first quarter. Thomson Horstmann & Bryant Inc. now owns 865,690 shares of the specialty retailer’s stock valued at $2,900,000 after buying an additional 688,920 shares during the period. Globeflex Capital L P raised its position in shares of U.S. Auto Parts Network by 17,850.9% in the first quarter. Globeflex Capital L P now owns 40,928 shares of the specialty retailer’s stock valued at $137,000 after buying an additional 40,700 shares during the period. TFS Capital LLC raised its position in shares of U.S. Auto Parts Network by 169.9% in the first quarter. TFS Capital LLC now owns 48,172 shares of the specialty retailer’s stock valued at $161,000 after buying an additional 30,324 shares during the period. Dimensional Fund Advisors LP raised its position in shares of U.S. Auto Parts Network by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 585,805 shares of the specialty retailer’s stock valued at $2,062,000 after buying an additional 13,658 shares during the period. Finally, Acadian Asset Management LLC raised its position in shares of U.S. Auto Parts Network by 2.6% in the first quarter. Acadian Asset Management LLC now owns 481,967 shares of the specialty retailer’s stock valued at $1,616,000 after buying an additional 12,231 shares during the period. 63.45% of the stock is owned by hedge funds and other institutional investors.
U.S. Auto Parts Network, Inc. (NASDAQ:PRTS) traded down 0.66% during midday trading on Tuesday, reaching $3.00. 161,638 shares of the company were exchanged. The firm’s 50-day moving average is $3.22 and its 200-day moving average is $3.38. The firm’s market cap is $103.53 million. U.S. Auto Parts Network, Inc. has a one year low of $2.40 and a one year high of $4.35.
U.S. Auto Parts Network (NASDAQ:PRTS) last released its quarterly earnings results on Wednesday, May 10th. The specialty retailer reported $0.02 EPS for the quarter, missing the Zacks’ consensus estimate of $0.03 by $0.01. U.S. Auto Parts Network had a negative net margin of 0.09% and a positive return on equity of 6.07%. The firm had revenue of $80.80 million during the quarter, compared to the consensus estimate of $82.34 million. U.S. Auto Parts Network’s revenue for the quarter was up .1% compared to the same quarter last year. On average, equities analysts expect that U.S. Auto Parts Network, Inc. will post $0.09 EPS for the current fiscal year.
U.S. Auto Parts Network declared that its Board of Directors has initiated a share buyback program on Wednesday, May 17th that authorizes the company to buyback $5.00 million in outstanding shares. This buyback authorization authorizes the specialty retailer to buy up to 4.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.
Several equities analysts recently commented on PRTS shares. Zacks Investment Research lowered shares of U.S. Auto Parts Network from a “hold” rating to a “sell” rating in a research report on Saturday, May 13th. Roth Capital set a $5.00 price objective on shares of U.S. Auto Parts Network and gave the stock a “buy” rating in a research report on Thursday, May 11th. Finally, ValuEngine lowered shares of U.S. Auto Parts Network from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd.
U.S. Auto Parts Network Company Profile
U.S. Auto Parts Network, Inc is an online provider of automotive aftermarket parts and repair information. The Company is an online provider of aftermarket auto parts, including collision parts, engine parts, and performance parts and accessories. The Company operates through two segments: Base USAP, which is an auto parts business, and AutoMD, an online automotive repair source.
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