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      Update on Management Transition:, Inc. (PRTS) Stock Sinking in Premarket. - Stocks Telegraph

      By Maria Masood

      Published on

      March 16, 2022

      8:51 AM UTC

      Update on Management Transition:, Inc. (PRTS) Stock Sinking in Premarket. - Stocks Telegraph, Inc. (PRTS) is a leader in providing the best quality car parts at a comparatively reasonable price range. The company markets its products via a website. The primary supplied components to the clients include mirror products, chassis, exterior, and engine parts.

      PRTS stock price during the regular trading of March 15, 2022, is up by 4.70% to be $7.13. Its price fell at the time of writing in the premarket session on March 16, 2022, by 2.95%.

      PRTS: Events and Happenings

      On March 15, 2022, PRTS reported that Lev Peker stepped down as the company’s CEO. The company appointed ex COO & CFO, David Meniane as the new CEO and Ryan Lockwood as the new CFO of the company. The decision will be effective from April 18, 2022. Mr. Meniane was also appointed as a Class III director to fill the vacant post from Mr. Peker’s parting.

      PRTS: Key Financials

      On March 1, 2022, PRTS updated fourth-quarter 2021 financials for the quarter ended January 1, 2022. Some key features are discussed here.

      Net Sales

      The company’s net sales recorded in the fourth quarter of 2021 were $138.3 million in comparison to $119.7 million and 2020. The company observed an increase of 15% in net sales YoY and it outdid the revenue expectations by $487.3 thousand


      Diluted net loss per share in Q4 2021 was $5.0 million or $0.10 compared to $3.5 million or $0.07 in the corresponding quarter of 2020. The company’s EPS observed a decline YoY and it beat the analysts’ estimations by $0.01.

      On January 12, 2022, PRTS announced the appointment of member Ana Dutra to its board of directors. She previously served as CEO of Korn/Ferry Consulting and Mandala Global Advisors, Inc.


      PRTS stock is bearish by 50% from the prior year as an economic impact of the pandemic. The stock price of the company plummeted in Wednesday’s premarket as the company announced the transition of its top management. The earnings release date of the company is estimated to be May 9, and its revenue outlook is $161.4 million versus -$0.05 EPS.

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