Stoneridge (NYSE:SRI) Director Ira Kaplan Acquires 5,000 Shares

Stoneridge, Inc. (NYSE:SRI) Director Ira Kaplan purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was acquired at an average price of $7.54 per share, with a total value of $37,700.00. Following the completion of the transaction, the director owned 100,046 shares in the company, valued at approximately $754,346.84. This trade represents a 5.26% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Stoneridge Trading Down 1.4%

NYSE SRI traded down $0.10 on Thursday, hitting $7.43. The company’s stock had a trading volume of 91,208 shares, compared to its average volume of 211,573. The company has a quick ratio of 1.37, a current ratio of 2.02 and a debt-to-equity ratio of 1.00. Stoneridge, Inc. has a 1-year low of $4.60 and a 1-year high of $9.71. The company’s 50-day moving average is $6.46 and its 200 day moving average is $6.53. The firm has a market cap of $209.77 million, a PE ratio of -1.68 and a beta of 1.85.

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

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SRI. Arrowstreet Capital Limited Partnership boosted its stake in Stoneridge by 285.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 518,105 shares of the auto parts company’s stock worth $3,948,000 after acquiring an additional 383,805 shares in the last quarter. AQR Capital Management LLC boosted its stake in Stoneridge by 213.7% during the first quarter. AQR Capital Management LLC now owns 533,470 shares of the auto parts company’s stock worth $2,449,000 after acquiring an additional 363,407 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Stoneridge by 340.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 256,791 shares of the auto parts company’s stock worth $1,487,000 after acquiring an additional 198,423 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Stoneridge by 50.0% during the fourth quarter. Russell Investments Group Ltd. now owns 575,670 shares of the auto parts company’s stock worth $3,333,000 after acquiring an additional 191,953 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in Stoneridge by 186.7% during the second quarter. Marshall Wace LLP now owns 293,987 shares of the auto parts company’s stock worth $2,070,000 after acquiring an additional 191,444 shares in the last quarter. 98.07% of the stock is owned by institutional investors.

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.