Ira Kaplan Purchases 5,000 Shares of Stoneridge (NYSE:SRI) Stock

Stoneridge, Inc. (NYSE:SRI) Director Ira Kaplan acquired 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was bought at an average price of $7.54 per share, with a total value of $37,700.00. Following the transaction, the director directly owned 100,046 shares in the company, valued at $754,346.84. The trade was a 5.26% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Stoneridge Stock Performance

SRI stock opened at $7.10 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.02 and a quick ratio of 1.37. The company has a 50 day moving average price of $6.54 and a 200 day moving average price of $6.55. Stoneridge, Inc. has a fifty-two week low of $4.60 and a fifty-two week high of $9.71. The stock has a market capitalization of $200.50 million, a PE ratio of -1.61 and a beta of 1.85.

Stoneridge (NYSE:SRI) last posted its quarterly earnings data on Thursday, May 7th. The auto parts company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.76). Stoneridge had a negative return on equity of 22.50% and a negative net margin of 15.24%.The company had revenue of $160.85 million during the quarter, compared to the consensus estimate of $139.00 million. Analysts forecast that Stoneridge, Inc. will post -0.74 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Zacks Research cut shares of Stoneridge from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 27th. Barrington Research cut shares of Stoneridge from an “outperform” rating to a “market perform” rating in a research report on Monday, March 16th. Wall Street Zen cut shares of Stoneridge from a “buy” rating to a “hold” rating in a research report on Sunday, March 22nd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Stoneridge in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Stoneridge has an average rating of “Sell” and an average price target of $16.00.

Hedge Funds Weigh In On Stoneridge

Institutional investors and hedge funds have recently made changes to their positions in the company. Assenagon Asset Management S.A. grew its holdings in shares of Stoneridge by 340.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 256,791 shares of the auto parts company’s stock valued at $1,487,000 after buying an additional 198,423 shares during the period. 22NW LP grew its holdings in shares of Stoneridge by 8.3% in the 3rd quarter. 22NW LP now owns 2,105,600 shares of the auto parts company’s stock valued at $16,045,000 after buying an additional 162,092 shares during the period. Teton Advisors LLC acquired a new position in shares of Stoneridge in the 3rd quarter valued at $198,000. AlphaQuest LLC acquired a new position in shares of Stoneridge in the 3rd quarter valued at $193,000. Finally, Hsbc Holdings PLC grew its holdings in shares of Stoneridge by 36.2% in the 4th quarter. Hsbc Holdings PLC now owns 112,891 shares of the auto parts company’s stock valued at $658,000 after buying an additional 29,992 shares during the period. Institutional investors and hedge funds own 98.07% of the company’s stock.

About Stoneridge

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.