Russell Investments Group Ltd. Boosts Stock Position in 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. grew its stake in shares of Stoneridge, Inc. (NYSE:SRI - Free Report) by 49.5% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 388,479 shares of the auto parts company's stock after purchasing an additional 128,593 shares during the period. Russell Investments Group Ltd. owned about 1.40% of Stoneridge worth $1,783,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in Stoneridge by 2,684.5% during the 1st quarter. GAMMA Investing LLC now owns 6,293 shares of the auto parts company's stock worth $29,000 after purchasing an additional 6,067 shares in the last quarter. CWM LLC boosted its stake in shares of Stoneridge by 580.6% in the 1st quarter. CWM LLC now owns 12,849 shares of the auto parts company's stock worth $59,000 after buying an additional 10,961 shares during the last quarter. Quantinno Capital Management LP purchased a new position in shares of Stoneridge in the 4th quarter worth approximately $63,000. Wells Fargo & Company MN boosted its stake in shares of Stoneridge by 27.9% in the 4th quarter. Wells Fargo & Company MN now owns 16,021 shares of the auto parts company's stock worth $100,000 after buying an additional 3,490 shares during the last quarter. Finally, Quarry LP boosted its stake in shares of Stoneridge by 321.3% in the 4th quarter. Quarry LP now owns 16,680 shares of the auto parts company's stock worth $105,000 after buying an additional 12,721 shares during the last quarter. 98.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SRI has been the topic of a number of research analyst reports. Wall Street Zen upgraded 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 Wednesday, August 20th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Stoneridge presently has an average rating of "Buy" and a consensus target price of $16.00.

Stoneridge Stock Performance

NYSE SRI traded down $0.08 on Friday, hitting $8.33. 140,251 shares of the stock traded hands, compared to its average volume of 271,505. The business's fifty day moving average is $7.66 and its two-hundred day moving average is $5.78. Stoneridge, Inc. has a 12 month low of $3.54 and a 12 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 1.44. 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 (NYSE:SRI - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The auto parts company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.16). Stoneridge had a negative net margin of 3.39% and a negative return on equity of 9.24%. The firm had revenue of $227.95 million for the quarter, compared to the consensus estimate of $219.90 million. As a group, equities analysts anticipate that Stoneridge, Inc. will post -0.42 EPS for the current fiscal year.

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.