Susquehanna International Group LLP reduced its holdings in shares of Stoneridge, Inc. (NYSE:SRI – Free Report) by 97.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,150 shares of the auto parts company’s stock after selling 354,860 shares during the period. Susquehanna International Group LLP’s holdings in Stoneridge were worth $74,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in SRI. Strs Ohio bought a new stake in shares of Stoneridge during the 1st quarter valued at about $39,000. Quadrature Capital Ltd bought a new stake in Stoneridge in the fourth quarter worth approximately $61,000. NewEdge Advisors LLC bought a new stake in Stoneridge in the fourth quarter worth approximately $62,000. WINTON GROUP Ltd acquired a new position in Stoneridge in the fourth quarter valued at approximately $69,000. Finally, Jain Global LLC acquired a new position in Stoneridge in the fourth quarter valued at approximately $77,000. 98.07% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several analysts have recently commented on SRI shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Stoneridge in a research report on Wednesday, June 24th. Zacks Research upgraded shares of Stoneridge from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 21st. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Stoneridge currently has a consensus rating of “Reduce” and a consensus target price of $16.00.
Stoneridge Trading Down 1.4%
SRI opened at $7.13 on Friday. The firm has a market capitalization of $203.35 million, a PE ratio of -1.67 and a beta of 1.88. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.89 and a quick ratio of 1.27. Stoneridge, Inc. has a fifty-two week low of $4.60 and a fifty-two week high of $9.71. The company’s 50-day moving average is $7.18 and its 200 day moving average is $6.96.
Stoneridge (NYSE:SRI – Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The auto parts company reported ($0.18) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.26). Stoneridge had a negative return on equity of 24.91% and a negative net margin of 15.64%.The company had revenue of $181.38 million during the quarter, compared to analysts’ expectations of $161.85 million. As a group, research analysts predict that Stoneridge, Inc. will post -0.82 earnings per share for the current fiscal year.
Insider Buying and Selling at Stoneridge
In related news, CEO Natalia Noblet acquired 5,000 shares of the company’s stock in a transaction on Monday, August 10th. The shares were acquired at an average cost of $7.31 per share, for a total transaction of $36,550.00. Following the purchase, the chief executive officer owned 5,000 shares in the company, valued at approximately $36,550. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William Lasky acquired 5,000 shares of the business’s stock in a transaction on Friday, June 12th. The shares were purchased at an average cost of $7.46 per share, for a total transaction of $37,300.00. Following the completion of the acquisition, the director directly owned 192,666 shares in the company, valued at approximately $1,437,288.36. The trade was a 2.66% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have purchased 16,000 shares of company stock worth $115,910. Corporate insiders own 11.00% of the company’s stock.
Stoneridge Company Profile
Stoneridge, Inc (NYSE: SRI) is a global developer and manufacturer of highly engineered electrical and electronic components for the automotive and commercial vehicle markets. The company’s product offerings span a range of safety, convenience and control systems, delivering tailored solutions that help original equipment manufacturers (OEMs) meet increasingly stringent regulatory and performance requirements.
Among Stoneridge’s core products are rearview and side-view mirror systems, camera-based advanced driver assistance systems (ADAS) and interior and exterior lighting solutions.
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