Jacobs Levy Equity Management Inc. Decreases Stock Holdings 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. lessened its position in Stoneridge, Inc. (NYSE:SRI - Free Report) by 58.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 0.67% of Stoneridge worth $859,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Stoneridge by 78.2% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 88,937 shares of the auto parts company's stock worth $408,000 after purchasing an additional 39,028 shares during the period. Two Sigma Investments LP purchased a new position in shares of Stoneridge during the 4th quarter worth about $698,000. Public Employees Retirement System of Ohio boosted its stake in shares of Stoneridge by 119.2% during the 4th quarter. Public Employees Retirement System of Ohio now owns 39,324 shares of the auto parts company's stock worth $247,000 after purchasing an additional 21,388 shares during the period. GSA Capital Partners LLP boosted its stake in shares of Stoneridge by 366.2% during the 1st quarter. GSA Capital Partners LLP now owns 273,563 shares of the auto parts company's stock worth $1,256,000 after purchasing an additional 214,888 shares during the period. Finally, Two Sigma Advisers LP purchased a new position in shares of Stoneridge during the 4th quarter worth about $165,000. 98.07% of the stock is owned by hedge funds and other institutional investors.

Stoneridge Trading Down 1.6%

SRI stock opened at $8.14 on Friday. The company has a market capitalization of $227.92 million, a PE ratio of -7.53 and a beta of 1.50. Stoneridge, Inc. has a 12 month low of $3.54 and a 12 month high of $12.98. The firm's 50-day moving average is $7.91 and its 200 day moving average is $6.04. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.14 and a quick ratio of 1.35.

Stoneridge (NYSE:SRI - Get Free Report) last posted its earnings results 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 business had revenue of $227.95 million for the quarter, compared to analysts' expectations of $219.90 million. Stoneridge had a negative net margin of 3.39% and a negative return on equity of 9.24%. On average, research analysts anticipate that Stoneridge, Inc. will post -0.42 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Barrington Research restated an "outperform" rating and issued a $16.00 price target on shares of Stoneridge in a report on Wednesday, August 20th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target 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.

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