Hsbc Holdings PLC Boosts Stock Position 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 grew its stake in shares of Stoneridge, Inc. (NYSE:SRI - Free Report) by 82.4% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 76,670 shares of the auto parts company's stock after purchasing an additional 34,627 shares during the period. Hsbc Holdings PLC owned about 0.28% of Stoneridge worth $361,000 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 grew its holdings in shares of 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 grew its holdings in shares of 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 bought a new position in shares of Stoneridge in the fourth quarter valued at approximately $63,000. Quantbot Technologies LP grew its holdings in shares of Stoneridge by 27.6% in the first quarter. Quantbot Technologies LP now owns 19,984 shares of the auto parts company's stock valued at $92,000 after acquiring an additional 4,318 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of Stoneridge by 27.9% in the fourth quarter. Wells Fargo & Company MN now owns 16,021 shares of the auto parts company's stock valued at $100,000 after acquiring an additional 3,490 shares in the last quarter. 98.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Barrington Research reaffirmed an "outperform" rating and issued a $16.00 target price on shares of Stoneridge in a report on Wednesday, August 20th. Wall Street Zen raised Stoneridge from a "hold" rating to a "buy" rating in a report on Tuesday, May 13th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $16.00.

Stoneridge Stock Performance

Stoneridge stock traded down $0.29 during trading on Friday, hitting $8.05. The stock had a trading volume of 159,017 shares, compared to its average volume of 206,055. Stoneridge, Inc. has a 1 year low of $3.54 and a 1 year high of $13.18. The company has a quick ratio of 1.35, a current ratio of 2.14 and a debt-to-equity ratio of 0.63. The stock's 50 day moving average is $7.85 and its two-hundred day moving average is $5.93. The stock has a market cap of $225.45 million, a price-to-earnings ratio of -7.45 and a beta of 1.50.

Stoneridge (NYSE:SRI - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The auto parts company reported ($0.25) EPS 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 during the quarter, compared to analysts' expectations of $219.90 million. As a group, analysts predict that Stoneridge, Inc. will post -0.42 EPS for the current 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.