Carparts.com COO Michael Huffaker buys $85,788 in stock

CarParts.com's Chief Operating Officer, Michael Huffaker, has purchased a total of $85,788 worth of the company's common stock over two consecutive days in August 2026. On August 27, he bought 4,614 shares at $6.88 per share, and on August 28, he acquired an additional 7,548 shares at $7.16 each. As a result, Mr. Huffaker now directly owns 60,102 shares of CarParts.com, bringing his total holding to this amount.

This insider buying comes amid strong momentum for PRTS stock, which has increased by 46% year-to-date and nearly 11% over the past week. According to InvestingPro, the stock appears undervalued based on its Fair Value assessment. However, some caution is advised as InvestingPro Tips indicate that the company is rapidly depleting its cash reserves and holds a "WEAK" overall financial health score.

Despite this, CarParts.com reported a narrower-than-expected loss for the second quarter of 2026, surpassing both Wall Street's revenue forecasts and analysts' expectations. The company posted an adjusted loss of $0.43 per share, outperforming the anticipated $0.80 loss. Revenue for the quarter amounted to $135.6 million, exceeding the estimated $129.04 million. While revenue declined by 10.7% from the previous year, management attributed the decline to a strategic shift towards more lucrative customers.

The company's financial improvements were notable, with gross margin increasing to 33.2% due to product mix adjustments and freight optimization. Adjusted EBITDA reached $1.8 million, marking the best performance for CarParts.com since the third quarter of 2023. The company now has $38 million in cash and no outstanding revolver debt.

Management highlighted growth in A-Premium, J.C. Whitney, and fee income as key drivers for future growth. Analysts have taken note of these developments, reflecting an ongoing push towards profitability.