Globeflex Capital L P Buys New Holdings in Stoneridge, Inc. $SRI

Globeflex Capital L P purchased a new position in shares of Stoneridge, Inc. (NYSE:SRI) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 163,443 shares of the auto parts company’s stock, valued at approximately $1,196,000.

Other large investors have also bought and sold shares of the company. Strs Ohio purchased a new position in Stoneridge in the 1st quarter worth approximately $39,000. Quadrature Capital Ltd purchased a new stake in shares of Stoneridge during the fourth quarter valued at approximately $61,000. NewEdge Advisors LLC purchased a new stake in shares of Stoneridge during the fourth quarter valued at approximately $62,000. WINTON GROUP Ltd bought a new position in shares of Stoneridge in the fourth quarter worth approximately $69,000. Finally, Jain Global LLC bought a new position in shares of Stoneridge in the fourth quarter worth approximately $77,000. 98.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Stoneridge news, Director William M. Lasky purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was bought at an average price of $7.46 per share, with a total value of $37,300.00. Following the completion of the purchase, 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 position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Scott Randall Humphrey purchased 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was bought at an average price of $7.01 per share, for a total transaction of $42,060.00. Following the acquisition, the chief financial officer owned 6,000 shares of the company’s stock, valued at $42,060. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders purchased 21,000 shares of company stock worth $153,610. Insiders own 11.00% of the company’s stock.

Stoneridge Trading Down 0.4%

SRI opened at $7.17 on Tuesday. The business has a 50 day simple moving average of $7.21 and a two-hundred day simple moving average of $7.04. The firm has a market capitalization of $204.54 million, a price-to-earnings ratio of -1.68 and a beta of 1.85. 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 one year low of $4.60 and a one year high of $9.71.

Stoneridge (NYSE:SRI) last released its quarterly earnings data on Wednesday, August 5th. The auto parts company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.26). The business had revenue of $181.38 million during the quarter, compared to analysts’ expectations of $161.85 million. Stoneridge had a negative return on equity of 24.91% and a negative net margin of 15.64%. Analysts predict that Stoneridge, Inc. will post -0.82 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SRI. Zacks Research upgraded shares of Stoneridge from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Stoneridge in a report on Wednesday, June 24th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Stoneridge has a consensus rating of “Reduce” and an average price target of $16.00.

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.