Connor Clark & Lunn Investment Management Ltd. Acquires 39,028 Shares of Stoneridge, Inc. $SRI

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 holdings in Stoneridge, Inc. (NYSE:SRI - Free Report) by 78.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 88,937 shares of the auto parts company's stock after acquiring an additional 39,028 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.32% of Stoneridge worth $408,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SRI. Millennium Management LLC grew its position in Stoneridge by 440.8% in the fourth quarter. Millennium Management LLC now owns 926,540 shares of the auto parts company's stock valued at $5,809,000 after acquiring an additional 755,223 shares during the last quarter. Federated Hermes Inc. grew its position in Stoneridge by 17,284.9% in the first quarter. Federated Hermes Inc. now owns 706,347 shares of the auto parts company's stock valued at $3,242,000 after acquiring an additional 702,284 shares during the last quarter. AYAL Capital Advisors Ltd grew its position in Stoneridge by 264.2% in the fourth quarter. AYAL Capital Advisors Ltd now owns 923,494 shares of the auto parts company's stock valued at $5,790,000 after acquiring an additional 669,935 shares during the last quarter. D. E. Shaw & Co. Inc. grew its position in Stoneridge by 405.8% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 699,838 shares of the auto parts company's stock valued at $4,388,000 after acquiring an additional 561,488 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Stoneridge during the fourth quarter valued at about $2,180,000. Institutional investors own 98.07% of the company's stock.

Stoneridge Trading Up 0.4%

Shares of Stoneridge stock traded up $0.0360 during midday trading on Monday, reaching $8.5460. The company had a trading volume of 174,661 shares, compared to its average volume of 359,386. The stock has a fifty day moving average price of $7.48 and a 200 day moving average price of $5.68. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.14 and a quick ratio of 1.35. The firm has a market cap of $239.37 million, a PE ratio of -7.91 and a beta of 1.44. Stoneridge, Inc. has a fifty-two week low of $3.54 and a fifty-two week high of $14.85.

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

Analyst Ratings Changes

A number of analysts have recently commented on the company. Barrington Research reissued an "outperform" rating and set 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 analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $16.00.

Stoneridge Company Profile

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.