PDT Partners LLC Buys 38,961 Shares of Stoneridge, Inc. $SRI

Key Points

• PDT Partners LLC increased its holdings in Stoneridge, Inc. by 83.5%, acquiring 38,961 additional shares, bringing its total to 85,608 shares worth approximately $393,000.
• Stoneridge reported a quarterly loss of ($0.25) earnings per share, missing estimates, though it exceeded revenue predictions with $227.95 million for the quarter.
• Analysts have expressed optimism, with Barrington Research issuing an "outperform" rating and a price target of $16.00, while the stock has a consensus rating of "Buy".

PDT Partners LLC raised its stake in shares of Stoneridge, Inc. (NYSE:SRI - Free Report) by 83.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 85,608 shares of the auto parts company's stock after acquiring an additional 38,961 shares during the quarter. PDT Partners LLC owned approximately 0.31% of Stoneridge worth $393,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in shares of Stoneridge by 2,684.5% in the first quarter. GAMMA Investing LLC now owns 6,293 shares of the auto parts company's stock valued at $29,000 after buying an additional 6,067 shares in the last quarter. CWM LLC increased its stake in shares of Stoneridge by 580.6% in the first quarter. CWM LLC now owns 12,849 shares of the auto parts company's stock valued at $59,000 after buying an additional 10,961 shares in the last quarter. Quantinno Capital Management LP acquired a new stake in shares of Stoneridge in the fourth quarter valued at $63,000. Quantbot Technologies LP increased its stake in shares of Stoneridge by 27.6% in the first quarter. Quantbot Technologies LP now owns 19,984 shares of the auto parts company's stock valued at $92,000 after buying an additional 4,318 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Stoneridge by 27.9% in the fourth quarter. Wells Fargo & Company MN now owns 16,021 shares of the auto parts company's stock valued at $100,000 after buying an additional 3,490 shares in the last quarter. 98.07% of the stock is owned by institutional investors.

Stoneridge Trading Down 1.1%

SRI stock traded down $0.09 during midday trading on Wednesday, reaching $8.11. The stock had a trading volume of 21,593 shares, compared to its average volume of 340,292. The business has a fifty day simple moving average of $7.89 and a two-hundred day simple moving average of $5.97. 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 market cap of $227.22 million, a price-to-earnings ratio of -7.51 and a beta of 1.50. Stoneridge, Inc. has a twelve month low of $3.54 and a twelve month high of $12.98.

Stoneridge (NYSE:SRI - Get Free Report) last issued its earnings results on Wednesday, August 6th. The auto parts company reported ($0.25) earnings per share (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 company had revenue of $227.95 million for the quarter, compared to the consensus estimate of $219.90 million. As a group, research analysts expect that Stoneridge, Inc. will post -0.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SRI has been the subject of a number of research reports. Barrington Research restated an "outperform" rating and issued a $16.00 target price on shares of Stoneridge in a research note on Wednesday, August 20th. Wall Street Zen upgraded Stoneridge from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $16.00.

Stoneridge 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.