Walleye Capital LLC Buys 159,727 Shares of Stoneridge, Inc. (NYSE:SRI)

Walleye Capital LLC increased its position in shares of Stoneridge, Inc. (NYSE:SRI) by 369.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 202,905 shares of the auto parts company’s stock after buying an additional 159,727 shares during the quarter. Walleye Capital LLC owned about 0.73% of Stoneridge worth $1,272,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Rhumbline Advisers increased its position in shares of Stoneridge by 4.9% during the fourth quarter. Rhumbline Advisers now owns 48,478 shares of the auto parts company’s stock worth $304,000 after acquiring an additional 2,274 shares in the last quarter. Geode Capital Management LLC boosted its stake in Stoneridge by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 619,028 shares of the auto parts company’s stock valued at $3,882,000 after purchasing an additional 2,543 shares during the last quarter. US Bancorp DE increased its holdings in Stoneridge by 65.2% during the 4th quarter. US Bancorp DE now owns 6,791 shares of the auto parts company’s stock worth $43,000 after purchasing an additional 2,679 shares in the last quarter. XTX Topco Ltd raised its stake in shares of Stoneridge by 25.7% in the third quarter. XTX Topco Ltd now owns 13,873 shares of the auto parts company’s stock worth $155,000 after purchasing an additional 2,833 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of Stoneridge by 27.9% in the fourth quarter. Wells Fargo & Company MN now owns 16,021 shares of the auto parts company’s stock valued at $100,000 after purchasing an additional 3,490 shares in the last quarter. Institutional investors own 98.07% of the company’s stock.

Stoneridge Stock Performance

SRI stock opened at $3.80 on Friday. The company has a quick ratio of 1.40, a current ratio of 2.44 and a debt-to-equity ratio of 0.72. The firm has a market cap of $105.67 million, a PE ratio of -14.06 and a beta of 1.26. The business has a 50 day moving average of $4.60 and a 200-day moving average of $6.08. Stoneridge, Inc. has a 12-month low of $3.54 and a 12-month high of $18.40.

Stoneridge (NYSE:SRI) last announced its earnings results on Wednesday, February 26th. The auto parts company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.36). The business had revenue of $218.20 million for the quarter, compared to analysts’ expectations of $207.61 million. Stoneridge had a negative net margin of 0.81% and a negative return on equity of 0.42%. As a group, sell-side analysts expect that Stoneridge, Inc. will post -0.42 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on SRI shares. Barrington Research reissued an “outperform” rating and issued a $16.00 price target on shares of Stoneridge in a research report on Tuesday, March 4th. StockNews.com upgraded shares of Stoneridge from a “hold” rating to a “buy” rating in a report on Saturday, March 29th.

About Stoneridge

Stoneridge, Inc, together with its subsidiaries, designs and manufactures engineered electrical and electronic systems, components, and modules for the automotive, commercial, off-highway, motorcycle, and agricultural vehicle markets in North America, South America, Europe, and internationally. The company operates through three segments: Control Devices, Electronics, and Stoneridge Brazil.