Spark Investment Management LLC Maintains Stake in Stoneridge, Inc. (SRI)
Spark Investment Management LLC held its position in shares of Stoneridge, Inc. (NYSE:SRI) during the second quarter, Holdings Channel reports. The firm owned 67,100 shares of the auto parts company’s stock at the end of the second quarter. Spark Investment Management LLC’s holdings in Stoneridge were worth $1,034,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. American Century Companies Inc. increased its position in shares of Stoneridge by 31.2% in the first quarter. American Century Companies Inc. now owns 514,584 shares of the auto parts company’s stock valued at $9,335,000 after buying an additional 122,385 shares during the last quarter. Algert Global LLC increased its position in shares of Stoneridge by 17.1% in the first quarter. Algert Global LLC now owns 82,933 shares of the auto parts company’s stock valued at $1,504,000 after buying an additional 12,081 shares during the last quarter. LSV Asset Management increased its position in shares of Stoneridge by 6.0% in the first quarter. LSV Asset Management now owns 699,700 shares of the auto parts company’s stock valued at $12,692,000 after buying an additional 39,800 shares during the last quarter. Wedge Capital Management L L P NC increased its position in shares of Stoneridge by 7.5% in the first quarter. Wedge Capital Management L L P NC now owns 76,200 shares of the auto parts company’s stock valued at $1,382,000 after buying an additional 5,300 shares during the last quarter. Finally, Bowling Portfolio Management LLC increased its position in shares of Stoneridge by 101.1% in the first quarter. Bowling Portfolio Management LLC now owns 42,003 shares of the auto parts company’s stock valued at $762,000 after buying an additional 21,117 shares during the last quarter. 87.71% of the stock is owned by institutional investors and hedge funds.
Stoneridge, Inc. (SRI) opened at 16.75 on Thursday. The company has a 50-day moving average price of $15.56 and a 200 day moving average price of $16.87. The firm has a market capitalization of $471.83 million, a P/E ratio of 6.20 and a beta of 1.33. Stoneridge, Inc. has a 1-year low of $13.42 and a 1-year high of $20.82.
Stoneridge (NYSE:SRI) last issued its quarterly earnings data on Wednesday, August 2nd. The auto parts company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.10. The firm had revenue of $209.10 million during the quarter, compared to analysts’ expectations of $202.45 million. Stoneridge had a return on equity of 22.52% and a net margin of 10.12%. Stoneridge’s revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 earnings per share. Analysts expect that Stoneridge, Inc. will post $1.46 earnings per share for the current fiscal year.
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Several research analysts have recently weighed in on the company. Zacks Investment Research downgraded Stoneridge from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 4th. B. Riley reaffirmed a “buy” rating and set a $22.00 target price on shares of Stoneridge in a research note on Monday, May 8th. BidaskClub downgraded Stoneridge from a “sell” rating to a “strong sell” rating in a research note on Friday, August 4th. Finally, ValuEngine raised Stoneridge from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $18.67.
In related news, insider Peter Kruk sold 22,000 shares of Stoneridge stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $16.63, for a total transaction of $365,860.00. Following the completion of the transaction, the insider now directly owns 20,047 shares of the company’s stock, valued at $333,381.61. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 5.30% of the company’s stock.
Stoneridge Company Profile
Stoneridge, Inc is a designer and manufacturer of engineered electrical and electronic components, modules and systems for the automotive, commercial, motorcycle, off-highway and agricultural vehicle markets. The Company operates through three segments: Control Devices, Electronics and PST. The Company’s Control Devices segment designs and manufactures products that monitor, measure or activate specific functions within a vehicle and includes product lines, such as sensors, switches, valves, and actuators.
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