Stoneridge (NYSE:SRI) CEO Acquires $36,550.00 in Stock

Stoneridge, Inc. (NYSE:SRI) CEO Natalia Noblet acquired 5,000 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were acquired at an average price of $7.31 per share, for a total transaction of $36,550.00. Following the acquisition, the chief executive officer directly owned 5,000 shares in the company, valued at $36,550. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

Stoneridge Price Performance

Shares of SRI opened at $7.05 on Friday. The stock has a 50 day simple moving average of $7.23 and a 200 day simple moving average of $7.03. Stoneridge, Inc. has a 52-week low of $4.60 and a 52-week high of $9.71. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.27 and a current ratio of 1.89. The firm has a market capitalization of $201.07 million, a PE ratio of -1.65 and a beta of 1.85.

Stoneridge (NYSE:SRI) last announced its earnings results on Wednesday, August 5th. The auto parts company reported ($0.18) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.26). Stoneridge had a negative return on equity of 24.91% and a negative net margin of 15.64%.The company had revenue of $181.38 million for the quarter, compared to analyst estimates of $161.85 million. Sell-side analysts predict that Stoneridge, Inc. will post -0.74 EPS for the current fiscal year.

Institutional Trading of Stoneridge

Hedge funds and other institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC boosted its holdings 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 purchasing an additional 363,407 shares during the last quarter. Millennium Management LLC increased its stake in Stoneridge by 3.0% in the 1st quarter. Millennium Management LLC now owns 954,577 shares of the auto parts company’s stock valued at $4,382,000 after buying an additional 28,037 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Stoneridge by 55.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 490,160 shares of the auto parts company’s stock valued at $2,250,000 after buying an additional 175,736 shares during the last quarter. Strs Ohio bought a new stake in Stoneridge during the 1st quarter worth about $39,000. Finally, JPMorgan Chase & Co. lifted its position in Stoneridge by 25.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 614,538 shares of the auto parts company’s stock worth $4,326,000 after buying an additional 122,897 shares in the last quarter. 98.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SRI shares. Zacks Research upgraded Stoneridge from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Stoneridge in a report on Wednesday, June 24th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Stoneridge presently has a consensus rating of “Reduce” and an average target price of $16.00.

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.