Stoneridge, Inc. (NYSE:SRI) Shares Purchased by Millennium Management LLC

Millennium Management LLC raised its holdings in shares of Stoneridge, Inc. (NYSE:SRI - Free Report) by 440.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 926,540 shares of the auto parts company's stock after purchasing an additional 755,223 shares during the period. Millennium Management LLC owned 3.35% of Stoneridge worth $5,809,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Jacobs Levy Equity Management Inc. raised its stake 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 valued at $2,818,000 after buying an additional 271,205 shares during the last quarter. Graham Capital Management L.P. purchased a new position in shares of Stoneridge in the fourth quarter worth $283,000. Ewing Morris & Co. Investment Partners Ltd. lifted its position in Stoneridge by 1.4% during the 4th quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 1,224,273 shares of the auto parts company's stock worth $7,676,000 after acquiring an additional 16,833 shares during the period. D. E. Shaw & Co. Inc. increased its holdings in shares of Stoneridge by 405.8% in the fourth 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 period. Finally, Cubist Systematic Strategies LLC raised its stake in shares of Stoneridge by 167.8% in the fourth quarter. Cubist Systematic Strategies LLC now owns 190,984 shares of the auto parts company's stock worth $1,197,000 after purchasing an additional 119,665 shares during the last quarter. Hedge funds and other institutional investors own 98.07% of the company's stock.

Stoneridge Stock Performance

Shares of SRI traded up $0.17 during mid-day trading on Friday, reaching $5.03. The company had a trading volume of 167,530 shares, compared to its average volume of 284,679. The stock has a market capitalization of $140.07 million, a P/E ratio of -18.63 and a beta of 1.22. Stoneridge, Inc. has a 52-week low of $3.54 and a 52-week high of $18.40. The stock has a 50 day moving average of $4.39 and a two-hundred day moving average of $5.18. The company has a quick ratio of 1.40, a current ratio of 2.44 and a debt-to-equity ratio of 0.72.

Stoneridge (NYSE:SRI - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The auto parts company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.02). The company had revenue of $217.89 million during the quarter, compared to analysts' expectations of $212.42 million. Stoneridge had a negative return on equity of 0.42% and a negative net margin of 0.81%. On average, analysts expect that Stoneridge, Inc. will post -0.42 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Barrington Research reaffirmed an "outperform" rating and issued a $16.00 price objective on shares of Stoneridge in a report on Thursday, May 1st. Wall Street Zen upgraded shares of Stoneridge from a "hold" rating to a "buy" rating in a research report on Tuesday, May 13th.

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.