Charles Schwab Investment Management Inc. Sells 53,024 Shares of Stoneridge, Inc. $SRI

Charles Schwab Investment Management Inc. lessened its position in Stoneridge, Inc. (NYSE:SRI - Free Report) by 19.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 213,833 shares of the auto parts company's stock after selling 53,024 shares during the period. Charles Schwab Investment Management Inc. owned 0.77% of Stoneridge worth $981,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC increased its holdings in Stoneridge by 2,684.5% in the 1st quarter. GAMMA Investing LLC now owns 6,293 shares of the auto parts company's stock worth $29,000 after purchasing an additional 6,067 shares in the last quarter. CWM LLC increased its stake in shares of Stoneridge by 580.6% in the first quarter. CWM LLC now owns 12,849 shares of the auto parts company's stock valued at $59,000 after buying an additional 10,961 shares during the period. Quantinno Capital Management LP acquired a new stake in shares of Stoneridge in the fourth quarter valued at about $63,000. Wells Fargo & Company MN increased its stake 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 buying an additional 3,490 shares during the period. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Stoneridge in the fourth quarter valued at about $115,000. Institutional investors and hedge funds own 98.07% of the company's stock.

Stoneridge Trading Down 3.5%

NYSE SRI traded down $0.29 during trading hours on Friday, hitting $8.05. 159,017 shares of the company's stock were exchanged, compared to its average volume of 344,443. The stock has a 50-day simple moving average of $7.83 and a 200 day simple moving average of $5.88. Stoneridge, Inc. has a 1-year low of $3.54 and a 1-year high of $13.18. The firm has a market cap of $225.45 million, a price-to-earnings ratio of -7.45 and a beta of 1.50. The company has a current ratio of 2.14, a quick ratio of 1.35 and a debt-to-equity ratio of 0.63.

Stoneridge (NYSE:SRI - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The auto parts company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.16). Stoneridge had a negative return on equity of 9.24% and a negative net margin of 3.39%.The firm had revenue of $227.95 million during the quarter, compared to the consensus estimate of $219.90 million. On average, equities analysts forecast that Stoneridge, Inc. will post -0.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SRI. Barrington Research reissued an "outperform" rating and issued a $16.00 price target on shares of Stoneridge in a research note on Wednesday, August 20th. Wall Street Zen raised Stoneridge from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, Stoneridge presently has a consensus rating of "Buy" and a consensus price target of $16.00.

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.