Insider Buying: Methode Electronics, Inc. (NYSE:MEI) SVP Buys 15,150 Shares of Stock

Methode Electronics, Inc. (NYSE:MEI) SVP Lars Ullrich bought 15,150 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was acquired at an average cost of $6.69 per share, for a total transaction of $101,353.50. Following the completion of the acquisition, the senior vice president now directly owns 15,150 shares in the company, valued at approximately $101,353.50. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Methode Electronics Stock Performance

MEI traded down $0.15 during trading on Tuesday, hitting $6.42. The stock had a trading volume of 576,297 shares, compared to its average volume of 513,268. The firm has a market capitalization of $228.96 million, a P/E ratio of -2.54 and a beta of 0.77. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.73 and a current ratio of 2.75. Methode Electronics, Inc. has a twelve month low of $5.84 and a twelve month high of $17.45. The company’s 50-day moving average price is $10.43 and its 200 day moving average price is $10.74.

Methode Electronics (NYSE:MEI) last issued its quarterly earnings results on Wednesday, March 5th. The electronics maker reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.04). The firm had revenue of $239.90 million for the quarter, compared to analyst estimates of $264.01 million. Methode Electronics had a negative return on equity of 3.26% and a negative net margin of 8.16%. During the same quarter last year, the firm earned ($0.33) earnings per share. On average, equities research analysts forecast that Methode Electronics, Inc. will post -0.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Methode Electronics

Large investors have recently modified their holdings of the business. Quarry LP purchased a new stake in shares of Methode Electronics in the fourth quarter valued at approximately $32,000. Virtus Fund Advisers LLC purchased a new stake in shares of Methode Electronics during the 4th quarter worth $38,000. AlphaQuest LLC grew its stake in shares of Methode Electronics by 196.8% during the 4th quarter. AlphaQuest LLC now owns 4,509 shares of the electronics maker’s stock worth $53,000 after purchasing an additional 2,990 shares during the period. PharVision Advisers LLC purchased a new position in shares of Methode Electronics in the 4th quarter valued at about $120,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Methode Electronics in the fourth quarter valued at about $125,000. 95.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MEI has been the topic of a number of recent research reports. Sidoti upgraded shares of Methode Electronics from a “neutral” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Tuesday, February 25th. Robert W. Baird reduced their price objective on Methode Electronics from $14.00 to $9.00 and set a “neutral” rating for the company in a research note on Friday, March 7th.

Methode Electronics Company Profile

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.