Hsbc Holdings PLC Increases Stock Holdings in Stoneridge, Inc. $SRI

Key Points

• Hsbc Holdings PLC increased its stake in Stoneridge, Inc. by 82.4% during Q1, acquiring an additional 34,627 shares to own approximately 0.28% of the company, valued at $361,000.
• Several institutional investors also significantly boosted their positions in Stoneridge, with 98.07% of the stock now owned by institutional investors and hedge funds.
• Stoneridge reported a loss of ($0.25) earnings per share for the last quarter, falling short of analysts' expectations, despite a revenue of $227.95 million that exceeded projections.

Hsbc Holdings PLC raised its position in shares of Stoneridge, Inc. (NYSE:SRI - Free Report) by 82.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 76,670 shares of the auto parts company's stock after purchasing an additional 34,627 shares during the quarter. Hsbc Holdings PLC owned 0.28% of Stoneridge worth $361,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in SRI. Quantbot Technologies LP lifted its holdings in Stoneridge by 27.6% during the first quarter. Quantbot Technologies LP now owns 19,984 shares of the auto parts company's stock valued at $92,000 after purchasing an additional 4,318 shares in the last quarter. American Century Companies Inc. lifted its holdings in Stoneridge by 10.2% during the 1st quarter. American Century Companies Inc. now owns 353,316 shares of the auto parts company's stock worth $1,622,000 after buying an additional 32,829 shares in the last quarter. Boston Partners lifted its holdings in Stoneridge by 25.4% during the 1st quarter. Boston Partners now owns 89,267 shares of the auto parts company's stock worth $410,000 after buying an additional 18,065 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Stoneridge by 49.5% during the 1st quarter. Russell Investments Group Ltd. now owns 388,479 shares of the auto parts company's stock worth $1,783,000 after acquiring an additional 128,593 shares in the last quarter. Finally, Nuveen LLC acquired a new position in Stoneridge during the 1st quarter worth approximately $400,000. 98.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Stoneridge Stock Performance

Stoneridge stock traded up $0.29 during trading hours on Thursday, reaching $8.39. 173,653 shares of the company were exchanged, compared to its average volume of 231,877. Stoneridge, Inc. has a 12 month low of $3.54 and a 12 month high of $13.54. The firm has a market cap of $235.00 million, a price-to-earnings ratio of -7.77 and a beta of 1.50. The company has a current ratio of 2.14, a quick ratio of 1.35 and a debt-to-equity ratio of 0.63. The stock has a 50-day moving average of $7.83 and a 200 day moving average of $5.88.

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). 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%. As a group, research analysts anticipate 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.