163,443 Shares in Stoneridge, Inc. $SRI Purchased by Globeflex Capital L P

Key Points

• Globeflex Capital purchased 163,443 shares of Stoneridge during the second quarter, worth approximately $1.2 million and representing about 0.57% of the company. Institutional investors collectively own 98.07% of Stoneridge.
• Stoneridge reported a quarterly loss of $0.18 per share, missing analysts’ $0.08 estimate, although revenue of $181.38 million exceeded expectations. Analysts forecast a full-year loss of $0.82 per share.
• Insiders bought 21,000 shares worth approximately $153,610 over the past three months, while the stock traded near $7.17. Analyst sentiment remains negative, with an average “Reduce” rating and a $16 target price.

Globeflex Capital L P bought a new position in Stoneridge, Inc. (NYSE:SRI - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 163,443 shares of the auto parts company's stock, valued at approximately $1,196,000. Globeflex Capital L P owned about 0.57% of Stoneridge as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of SRI. NewEdge Advisors LLC bought a new position in shares of Stoneridge in the fourth quarter worth approximately $62,000. Strs Ohio purchased a new stake in Stoneridge in the first quarter valued at approximately $39,000. Bank of New York Mellon Corp bought a new stake in Stoneridge during the second quarter valued at approximately $525,000. Bank of America Corp DE lifted its position in Stoneridge by 113.3% during the first quarter. Bank of America Corp DE now owns 68,896 shares of the auto parts company's stock valued at $333,000 after purchasing an additional 36,590 shares during the last quarter. Finally, BlackRock Inc. purchased a new position in Stoneridge in the 2nd quarter worth approximately $18,734,000. Institutional investors own 98.07% of the company's stock.

Stoneridge Price Performance

Shares of Stoneridge stock opened at $7.17 on Tuesday. The company has a current ratio of 1.89, a quick ratio of 1.27 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $204.54 million, a PE ratio of -1.68 and a beta of 1.85. The business's 50-day moving average price is $7.21 and its 200-day moving average price is $7.04. Stoneridge, Inc. has a 12 month low of $4.60 and a 12 month high of $9.71.

Stoneridge (NYSE:SRI - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The auto parts company reported ($0.18) earnings per share for the quarter, missing analysts' consensus estimates of $0.08 by ($0.26). The firm had revenue of $181.38 million for the quarter, compared to analysts' expectations of $161.85 million. Stoneridge had a negative net margin of 15.64% and a negative return on equity of 24.91%. Sell-side analysts forecast that Stoneridge, Inc. will post -0.82 EPS for the current fiscal year.

Insider Buying and Selling at Stoneridge

In other Stoneridge news, CFO Scott Randall Humphrey purchased 6,000 shares of the firm's stock in a transaction on Tuesday, August 18th. The shares were purchased at an average cost of $7.01 per share, with a total value of $42,060.00. Following the completion of the purchase, the chief financial officer owned 6,000 shares of the company's stock, valued at $42,060. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director William M. Lasky acquired 5,000 shares of the stock in a transaction dated Friday, June 12th. The stock was acquired at an average price of $7.46 per share, with a total value of $37,300.00. Following the completion of the acquisition, the director owned 192,666 shares in the company, valued at approximately $1,437,288.36. The trade was a 2.66% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders bought 21,000 shares of company stock valued at $153,610. 11.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on SRI. Weiss Ratings reissued a "sell (d-)" rating on shares of Stoneridge in a report on Wednesday, June 24th. Zacks Research raised shares of Stoneridge from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 21st. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Stoneridge currently has an average 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.

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