Stoneridge, Inc. (NYSE:SRI) Shares Sold by Royce & Associates LP

Key Points

• Royce & Associates LP reduced its stake in Stoneridge, Inc. by 2.9%, selling 36,656 shares to own 1,244,967 shares valued at approximately $5.71 million.
• Institutional investors now own 98.07% of Stoneridge shares, with other hedge funds, such as Federated Hermes and GAMMA Investing, also adjusting their positions in the company.
• Stoneridge reported a loss of ($0.19) EPS for its last quarter, missing analysts' estimates while generating revenues of $217.89 million, surpassing the expected $212.42 million.

Royce & Associates LP reduced its position in Stoneridge, Inc. (NYSE:SRI - Free Report) by 2.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,244,967 shares of the auto parts company's stock after selling 36,656 shares during the quarter. Royce & Associates LP owned 4.47% of Stoneridge worth $5,714,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Federated Hermes Inc. purchased a new position in Stoneridge during the fourth quarter valued at approximately $25,000. GAMMA Investing LLC boosted its stake in 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 acquiring an additional 6,067 shares in the last quarter. CWM LLC boosted its stake in 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 acquiring an additional 10,961 shares in the last quarter. Quantinno Capital Management LP acquired a new stake in Stoneridge in the fourth quarter valued at approximately $63,000. Finally, Quantbot Technologies LP acquired a new stake in Stoneridge in the fourth quarter valued at approximately $98,000. 98.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Stoneridge from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. Barrington Research restated an "outperform" rating and issued a $16.00 target price on shares of Stoneridge in a research note on Thursday, July 10th.

Stoneridge Stock Performance

SRI traded up $0.84 on Monday, reaching $8.67. The stock had a trading volume of 402,226 shares, compared to its average volume of 352,642. The company has a market cap of $241.46 million, a P/E ratio of -13.55 and a beta of 1.42. The business's 50-day moving average price is $6.39 and its two-hundred day moving average price is $5.29. The company has a current ratio of 2.39, a quick ratio of 1.52 and a debt-to-equity ratio of 0.80. Stoneridge, Inc. has a 12-month low of $3.54 and a 12-month high of $18.40.

Stoneridge (NYSE:SRI - Get Free Report) last released its earnings results on Wednesday, April 30th. The auto parts company reported ($0.19) EPS for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.02). The company had revenue of $217.89 million for the quarter, compared to analysts' expectations of $212.42 million. Stoneridge had a negative return on equity of 4.66% and a negative net margin of 1.98%. Sell-side analysts forecast that Stoneridge, Inc. will post -0.42 earnings per share for the current year.

About Stoneridge

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.