Jacobs Levy Equity Management Inc. Reduces Position in Stoneridge, Inc. $SRI

Key Points

• Jacobs Levy Equity Management Inc. reduced its stake in Stoneridge, Inc. by 58.4% during the 1st quarter, owning 187,048 shares worth approximately $859,000.
• Other investors, including Connor Clark & Lunn Investment Management Ltd. and GSA Capital Partners LLP, significantly increased their positions in Stoneridge, with Connor Clark boosting its stake by 78.2%.
• Stoneridge reported a loss of ($0.25) EPS for the last quarter, missing analyst expectations, while analysts rate the stock as a "Buy" with a target price of $16.00.

Jacobs Levy Equity Management Inc. trimmed its position in shares of Stoneridge, Inc. (NYSE:SRI - Free Report) by 58.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 187,048 shares of the auto parts company's stock after selling 262,405 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.67% of Stoneridge worth $859,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Jane Street Group LLC boosted its stake in Stoneridge by 77.0% during the fourth quarter. Jane Street Group LLC now owns 123,434 shares of the auto parts company's stock worth $774,000 after buying an additional 53,700 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Stoneridge by 1,412.6% during the fourth quarter. BNP Paribas Financial Markets now owns 100,771 shares of the auto parts company's stock worth $632,000 after buying an additional 94,109 shares during the last quarter. Bank of America Corp DE boosted its stake in Stoneridge by 113.9% during the fourth quarter. Bank of America Corp DE now owns 72,046 shares of the auto parts company's stock worth $452,000 after buying an additional 38,370 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its stake in Stoneridge by 405.8% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 699,838 shares of the auto parts company's stock worth $4,388,000 after buying an additional 561,488 shares during the last quarter. Finally, Graham Capital Management L.P. acquired a new position in Stoneridge during the fourth quarter worth $283,000. 98.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Barrington Research reissued an "outperform" rating and set a $16.00 target price on shares of Stoneridge in a research note on Wednesday, August 20th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $16.00.

Stoneridge Stock Up 2.9%

SRI stock traded up $0.24 during mid-day trading on Thursday, reaching $8.44. The company had a trading volume of 170,890 shares, compared to its average volume of 177,899. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.35 and a current ratio of 2.14. The company has a market capitalization of $236.40 million, a price-to-earnings ratio of -7.81 and a beta of 1.50. The firm has a fifty day simple moving average of $7.94 and a 200 day simple moving average of $6.13. Stoneridge, Inc. has a fifty-two week low of $3.54 and a fifty-two week high of $12.96.

Stoneridge (NYSE:SRI - Get Free Report) last released 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). Stoneridge had a negative net margin of 3.39% and a negative return on equity of 9.24%. The business had revenue of $227.95 million during the quarter, compared to analysts' expectations of $219.90 million. Analysts forecast that Stoneridge, Inc. will post -0.42 earnings per share for the current fiscal year.

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.