Russell Investments Group Ltd. Purchases 128,593 Shares of Stoneridge, Inc. $SRI

Key Points

• Russell Investments Group Ltd. increased its stake in Stoneridge, Inc. by 49.5%, owning approximately 1.40% of the company valued at $1.78 million after acquiring an additional 128,593 shares.
• Stoneridge reported a loss of $0.25 earnings per share in its latest quarter, missing expectations, but generated revenue of $227.95 million, surpassing analysts' estimates.
• Analysts have a favorable outlook on Stoneridge, with an average rating of "Buy" and a price target of $16.00, suggesting potential for significant growth.

Russell Investments Group Ltd. increased its holdings in shares of Stoneridge, Inc. (NYSE:SRI - Free Report) by 49.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 388,479 shares of the auto parts company's stock after buying an additional 128,593 shares during the quarter. Russell Investments Group Ltd. owned 1.40% of Stoneridge worth $1,783,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Two Sigma Investments LP bought a new position in Stoneridge in the fourth quarter valued at about $698,000. Public Employees Retirement System of Ohio boosted its stake in shares of Stoneridge by 119.2% in the 4th quarter. Public Employees Retirement System of Ohio now owns 39,324 shares of the auto parts company's stock valued at $247,000 after purchasing an additional 21,388 shares in the last quarter. GSA Capital Partners LLP grew its holdings 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 valued at $1,256,000 after purchasing an additional 214,888 shares during the last quarter. Two Sigma Advisers LP acquired a new position in Stoneridge during the 4th quarter worth approximately $165,000. Finally, PharVision Advisers LLC acquired a new position in Stoneridge during the 4th quarter worth approximately $392,000. 98.07% of the stock is owned by institutional investors and hedge funds.

Stoneridge Trading Down 0.9%

Shares of NYSE:SRI traded down $0.08 during mid-day trading on Monday, reaching $8.33. 140,251 shares of the company's stock were exchanged, compared to its average volume of 265,976. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.35 and a current ratio of 2.14. Stoneridge, Inc. has a twelve month low of $3.54 and a twelve month high of $14.62. The firm has a market capitalization of $233.18 million, a price-to-earnings ratio of -7.71 and a beta of 1.50. The business's fifty day moving average price is $7.71 and its 200-day moving average price is $5.82.

Stoneridge (NYSE:SRI - Get Free Report) last announced its earnings results on Wednesday, August 6th. The auto parts company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.16). The company had revenue of $227.95 million for the quarter, compared to the consensus estimate of $219.90 million. Stoneridge had a negative return on equity of 9.24% and a negative net margin of 3.39%. On average, research analysts predict that Stoneridge, Inc. will post -0.42 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on SRI. Wall Street Zen upgraded shares of Stoneridge from a "hold" rating to a "buy" rating in a research report on Tuesday, May 13th. Barrington Research reiterated an "outperform" rating and issued a $16.00 price target on shares of Stoneridge in a research note on Wednesday, August 20th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Stoneridge 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.