Man Group plc purchased a new position in shares of Stoneridge, Inc. (NYSE:SRI – Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 279,924 shares of the auto parts company’s stock, valued at approximately $2,049,000. Man Group plc owned 0.98% of Stoneridge as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently modified their holdings of SRI. Strs Ohio bought a new stake in shares of Stoneridge during the first quarter valued at about $39,000. Quadrature Capital Ltd bought a new position in Stoneridge in the 4th quarter valued at about $61,000. NewEdge Advisors LLC bought a new position in Stoneridge in the 4th quarter valued at about $62,000. WINTON GROUP Ltd acquired a new position in Stoneridge during the 4th quarter valued at about $69,000. Finally, Jain Global LLC acquired a new position in Stoneridge during the 4th quarter valued at about $77,000. 98.07% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
SRI has been the subject of a number of research analyst reports. Zacks Research raised shares of Stoneridge from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Stoneridge in a research note on Wednesday, June 24th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Stoneridge currently has an average rating of “Reduce” and an average price target of $16.00.
Stoneridge Trading Up 2.2%
Shares of NYSE SRI opened at $7.07 on Wednesday. Stoneridge, Inc. has a 12 month low of $4.60 and a 12 month high of $9.71. The company has a market cap of $201.64 million, a price-to-earnings ratio of -1.66 and a beta of 1.88. The company has a quick ratio of 1.27, a current ratio of 1.89 and a debt-to-equity ratio of 1.01. The business has a fifty day simple moving average of $7.18 and a 200-day simple moving average of $6.98.
Stoneridge (NYSE:SRI – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The auto parts company reported ($0.18) earnings per share (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 for the quarter, compared to analyst estimates of $161.85 million. Sell-side analysts predict that Stoneridge, Inc. will post -0.82 EPS for the current year.
Insider Transactions at Stoneridge
In other news, Director William M. Lasky purchased 5,000 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were acquired at an average price 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 of the company’s stock, valued at $1,437,288.36. The trade was a 2.66% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Natalia Noblet purchased 5,000 shares of Stoneridge stock in a transaction that occurred on Monday, August 10th. The stock was purchased at an average price of $7.31 per share, with a total value of $36,550.00. Following the transaction, the chief executive officer owned 5,000 shares in the company, valued at $36,550. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 16,000 shares of company stock valued at $115,910 over the last ninety days. Corporate insiders own 11.00% of the company’s stock.
Stoneridge 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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