Stoneridge, Inc. $SRI Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Stoneridge, Inc. by 78.2%, acquiring an additional 39,028 shares to hold a total of 88,937 shares valued at $408,000.
• Several institutional investors have significantly increased their stakes, with Federated Hermes Inc. surging by 17,284.9%, owning 706,347 shares worth $3,242,000.
• Stoneridge reported a quarterly earnings miss with ($0.25) earnings per share compared to a consensus estimate of ($0.09), amid a revenue of $227.95 million.

Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Stoneridge, Inc. (NYSE:SRI - Free Report) by 78.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 88,937 shares of the auto parts company's stock after purchasing an additional 39,028 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.32% of Stoneridge worth $408,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. XTX Topco Ltd lifted its position in shares of Stoneridge by 9.3% during the first quarter. XTX Topco Ltd now owns 97,918 shares of the auto parts company's stock valued at $449,000 after buying an additional 8,326 shares during the last quarter. GSA Capital Partners LLP increased its holdings in Stoneridge by 366.2% in the 1st quarter. GSA Capital Partners LLP now owns 273,563 shares of the auto parts company's stock worth $1,256,000 after buying an additional 214,888 shares during the period. Federated Hermes Inc. increased its holdings in Stoneridge by 17,284.9% in the 1st quarter. Federated Hermes Inc. now owns 706,347 shares of the auto parts company's stock worth $3,242,000 after buying an additional 702,284 shares during the period. HB Wealth Management LLC acquired a new stake in shares of Stoneridge during the 1st quarter worth approximately $128,000. Finally, CWM LLC grew its stake in shares of Stoneridge by 580.6% during the 1st quarter. CWM LLC now owns 12,849 shares of the auto parts company's stock worth $59,000 after purchasing an additional 10,961 shares during the period. Institutional investors own 98.07% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on SRI shares. Wall Street Zen raised shares of Stoneridge from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. Barrington Research restated an "outperform" rating and issued a $16.00 price objective on shares of Stoneridge in a report on Wednesday, August 20th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, Stoneridge currently has a consensus rating of "Buy" and a consensus target price of $16.00.

Stoneridge Trading Down 0.8%

NYSE SRI traded down $0.0650 during trading on Monday, hitting $8.4450. The stock had a trading volume of 13,100 shares, compared to its average volume of 351,039. The company has a market capitalization of $236.54 million, a PE ratio of -7.78 and a beta of 1.44. The company has a quick ratio of 1.35, a current ratio of 2.14 and a debt-to-equity ratio of 0.63. The firm has a 50 day moving average price of $7.43 and a 200 day moving average price of $5.65. Stoneridge, Inc. has a twelve month low of $3.54 and a twelve month high of $14.85.

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

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.