Perritt Capital Management Inc Lowers stake in Motorcar Parts of America (MPAA)

Motorcar Parts of America (MPAA) : Perritt Capital Management Inc reduced its stake in Motorcar Parts of America by 8.61% during the most recent quarter end. The investment management company now holds a total of 177,450 shares of Motorcar Parts of America which is valued at $5,284,461 after selling 16,716 shares in Motorcar Parts of America , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Motorcar Parts of America makes up approximately 1.21% of Perritt Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Envestnet Asset Management Inc reduced its stake in MPAA by selling 316 shares or 14.9% in the most recent quarter. The Hedge Fund company now holds 1,805 shares of MPAA which is valued at $53,753.Ranger Investment Management boosted its stake in MPAA in the latest quarter, The investment management firm added 510,849 additional shares and now holds a total of 852,572 shares of Motorcar Parts of America which is valued at $25,389,594. Motorcar Parts of America makes up approx 1.48% of Ranger Investment Management’s portfolio.Kennedy Capital Management boosted its stake in MPAA in the latest quarter, The investment management firm added 12,146 additional shares and now holds a total of 162,320 shares of Motorcar Parts of America which is valued at $4,833,890. Motorcar Parts of America makes up approx 0.09% of Kennedy Capital Management’s portfolio.Pinebridge Investments boosted its stake in MPAA in the latest quarter, The investment management firm added 172 additional shares and now holds a total of 2,324 shares of Motorcar Parts of America which is valued at $69,209. Tci Wealth Advisors sold out all of its stake in MPAA during the most recent quarter. The investment firm sold 18 shares of MPAA which is valued $543.

Motorcar Parts of America closed down -0.53 points or -1.81% at $28.79 with 281,018 shares getting traded on Wednesday. Post opening the session at $29.4, the shares hit an intraday low of $28.3 and an intraday high of $29.61 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Motorcar Parts of America reported $0.52 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on Aug 9, 2016. Analyst had a consensus of $0.40. The company had revenue of $85.41 million for the quarter, compared to analysts expectations of $85.22 million. The company’s revenue was down -.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.44 EPS.

Motorcar Parts of America Inc. (MPA) is a manufacturer remanufacturer and distributor of aftermarket automotive parts for import and domestic cars light trucks heavy duty agricultural and industrial applications. The Company sells its products in North America to auto parts retail and traditional warehouse chains and to automobile manufacturers for both their aftermarket programs and their warranty replacement programs (OES). The Company’s products include rotating electrical products such as alternators and starters; wheel hub assemblies and bearings and new brake master cylinders. Its products meet equipment manufacturer specifications. It carries over 10000 stock keeping units (SKUs) for automotive parts that are sold under its customers’ private label brand names and the Company’s Xtreme Reliance and other brand names. The Company sells its products to retail automotive chain stores including Advance AutoZone Genuine Parts (NAPA) O’Reilly and Pep Boys.

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