Nuveen LLC Purchases Shares of 87,157 Stoneridge, Inc. $SRI

Key Points

• Nuveen LLC has acquired a new position in Stoneridge, Inc. amounting to 87,157 shares valued at approximately $400,000, which represents a 0.31% ownership stake.
• Stoneridge received a positive rating upgrade from Wall Street Zen, moving from a "hold" rating to a "buy" rating, while Barrington Research set a price target of $16.00 for the stock.
• The company's recent earnings report showed a loss of ($0.25) per share, falling short of analyst expectations, despite revenue exceeding estimates at $227.95 million.

Nuveen LLC bought a new position in Stoneridge, Inc. (NYSE:SRI - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 87,157 shares of the auto parts company's stock, valued at approximately $400,000. Nuveen LLC owned about 0.31% of Stoneridge at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Millennium Management LLC lifted its stake 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. lifted its stake in shares of Stoneridge by 17,284.9% in the 1st quarter. Federated Hermes Inc. now owns 706,347 shares of the auto parts company's stock valued at $3,242,000 after purchasing an additional 702,284 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its stake in shares of Stoneridge by 405.8% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 699,838 shares of the auto parts company's stock valued at $4,388,000 after purchasing an additional 561,488 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in Stoneridge by 152.2% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 449,453 shares of the auto parts company's stock worth $2,818,000 after purchasing an additional 271,205 shares in the last quarter. Finally, GSA Capital Partners LLP increased its position in Stoneridge by 366.2% during the first 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 last quarter. 98.07% of the stock is currently owned by institutional investors and hedge funds.

Stoneridge Stock Performance

NYSE:SRI traded down $0.05 during mid-day trading on Wednesday, hitting $8.16. 121,681 shares of the company's stock traded hands, compared to its average volume of 193,475. The firm has a market capitalization of $228.42 million, a price-to-earnings ratio of -7.55 and a beta of 1.50. The firm has a 50 day moving average of $7.90 and a two-hundred day moving average of $5.99. 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, Inc. has a 12 month low of $3.54 and a 12 month high of $12.98.

Stoneridge (NYSE:SRI - Get Free Report) last issued its quarterly 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). Stoneridge had a negative return on equity of 9.24% and a negative net margin of 3.39%.The business had revenue of $227.95 million for the quarter, compared to analyst estimates of $219.90 million. On average, equities analysts forecast that Stoneridge, Inc. will post -0.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on SRI shares. Wall Street Zen raised Stoneridge from a "hold" rating to a "buy" rating in a research report on Tuesday, May 13th. Barrington Research restated an "outperform" rating and issued a $16.00 target price 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 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.