Stoneridge (NYSE:SRI) Director Acquires $37,700.00 in Stock

Stoneridge, Inc. (NYSE:SRI) Director Ira Kaplan acquired 5,000 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was acquired at an average cost of $7.54 per share, with a total value of $37,700.00. Following the acquisition, the director directly owned 100,046 shares in the company, valued at approximately $754,346.84. This trade represents a 5.26% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Stoneridge Stock Performance

NYSE SRI traded down $0.10 during trading on Thursday, reaching $7.43. The company’s stock had a trading volume of 91,208 shares, compared to its average volume of 211,573. The firm has a 50 day moving average price of $6.46 and a 200 day moving average price of $6.53. Stoneridge, Inc. has a 12 month low of $4.60 and a 12 month high of $9.71. The company has a current ratio of 2.02, a quick ratio of 1.37 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $209.77 million, a price-to-earnings ratio of -1.68 and a beta of 1.85.

Stoneridge (NYSE:SRI) last issued its quarterly earnings results on Thursday, May 7th. The auto parts company reported ($0.75) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $160.85 million for the quarter, compared to the consensus estimate of $139.00 million. As a group, equities analysts anticipate that Stoneridge, Inc. will post -0.74 EPS for the current fiscal year.

Hedge Funds Weigh In On Stoneridge

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. increased its position in Stoneridge by 2.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 93,729 shares of the auto parts company’s stock valued at $714,000 after acquiring an additional 1,815 shares during the period. Jane Street Group LLC increased its position in Stoneridge by 1.9% in the 4th quarter. Jane Street Group LLC now owns 115,259 shares of the auto parts company’s stock valued at $667,000 after acquiring an additional 2,178 shares during the period. State Street Corp increased its position in Stoneridge by 2.6% in the 4th quarter. State Street Corp now owns 134,334 shares of the auto parts company’s stock valued at $778,000 after acquiring an additional 3,400 shares during the period. Algert Global LLC increased its position in Stoneridge by 19.8% in the 3rd quarter. Algert Global LLC now owns 25,880 shares of the auto parts company’s stock valued at $197,000 after acquiring an additional 4,270 shares during the period. Finally, Geode Capital Management LLC increased its position in Stoneridge by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 317,846 shares of the auto parts company’s stock valued at $1,841,000 after acquiring an additional 4,545 shares during the period. Institutional investors own 98.07% of the company’s stock.

Wall Street Analyst Weigh In

SRI has been the subject of a number of recent analyst reports. Zacks Research downgraded shares of Stoneridge from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 27th. Wall Street Zen downgraded shares of Stoneridge from a “buy” rating to a “hold” rating in a report on Sunday, March 22nd. Barrington Research downgraded shares of Stoneridge from an “outperform” rating to a “market perform” rating in a report on Monday, March 16th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Stoneridge in a research note on Friday, March 27th. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Sell” and a consensus target price 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.