AlphaQuest LLC Increases Holdings in Methode Electronics, Inc. $MEI

AlphaQuest LLC lifted its position in shares of Methode Electronics, Inc. (NYSE:MEI) by 52.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,598 shares of the electronics maker’s stock after buying an additional 9,817 shares during the period. AlphaQuest LLC’s holdings in Methode Electronics were worth $272,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. SummerHaven Investment Management LLC lifted its stake in shares of Methode Electronics by 2.9% in the 2nd quarter. SummerHaven Investment Management LLC now owns 85,997 shares of the electronics maker’s stock valued at $818,000 after acquiring an additional 2,423 shares during the last quarter. Y Intercept Hong Kong Ltd lifted its stake in shares of Methode Electronics by 5.5% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 71,892 shares of the electronics maker’s stock valued at $459,000 after acquiring an additional 3,731 shares during the last quarter. Virtus Advisers LLC bought a new stake in shares of Methode Electronics in the 1st quarter valued at about $30,000. Quantbot Technologies LP lifted its stake in shares of Methode Electronics by 21.4% in the 1st quarter. Quantbot Technologies LP now owns 34,168 shares of the electronics maker’s stock valued at $218,000 after acquiring an additional 6,023 shares during the last quarter. Finally, Empowered Funds LLC lifted its stake in shares of Methode Electronics by 8.3% in the 1st quarter. Empowered Funds LLC now owns 127,268 shares of the electronics maker’s stock valued at $812,000 after acquiring an additional 9,787 shares during the last quarter. Institutional investors own 95.49% of the company’s stock.

Wall Street Analyst Weigh In

MEI has been the subject of a number of recent research reports. Wall Street Zen raised Methode Electronics from a “sell” rating to a “hold” rating in a research note on Saturday, August 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Methode Electronics in a research note on Wednesday, October 8th. Finally, Robert W. Baird boosted their target price on Methode Electronics from $7.00 to $8.50 and gave the company a “neutral” rating in a research note on Thursday, September 11th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $11.25.

Methode Electronics Stock Up 1.2%

Shares of NYSE:MEI opened at $6.72 on Friday. Methode Electronics, Inc. has a 52-week low of $5.08 and a 52-week high of $17.45. The firm has a market capitalization of $236.59 million, a P/E ratio of -4.34 and a beta of 1.09. The stock has a 50 day moving average price of $7.53 and a 200-day moving average price of $7.50. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.63 and a current ratio of 2.50.

Methode Electronics (NYSE:MEI) last announced its earnings results on Tuesday, September 9th. The electronics maker reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.18. Methode Electronics had a negative return on equity of 5.27% and a negative net margin of 5.30%.The firm had revenue of $240.50 million during the quarter, compared to analyst estimates of $224.57 million. During the same quarter in the prior year, the company earned ($0.31) EPS. Methode Electronics has set its FY 2026 guidance at EPS. As a group, equities research analysts anticipate that Methode Electronics, Inc. will post -0.4 EPS for the current fiscal year.

About Methode Electronics

Methode Electronics, Inc designs, engineers, and produces mechatronic products worldwide. It operates through four segments: Automotive, Industrial, Interface, and Medical. The Automotive segment supplies electronic and electro-mechanical devices, and related products to automobile original equipment manufacturers directly or through their tiered suppliers.