Acadian Asset Management LLC Acquires 155,673 Shares of Stoneridge, Inc. $SRI

Key Points

• Acadian Asset Management LLC increased its stake in Stoneridge, Inc. by 35.5%, holding 593,617 shares valued at approximately $2.72 million as of the last quarter.
• The company reported a quarterly loss of ($0.25) earnings per share, missing analysts' expectations, although it achieved revenue of $227.95 million, exceeding forecasts.
• Analysts have set a consensus rating of "Buy" for Stoneridge, with an average price target of $16.00 per share according to Barrington Research.

Acadian Asset Management LLC boosted its holdings in Stoneridge, Inc. (NYSE:SRI - Free Report) by 35.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 593,617 shares of the auto parts company's stock after acquiring an additional 155,673 shares during the period. Acadian Asset Management LLC owned about 2.13% of Stoneridge worth $2,720,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Quantbot Technologies LP increased its stake in shares of 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 acquiring an additional 4,318 shares during the period. GAMMA Investing LLC boosted its stake in shares of Stoneridge by 2,684.5% during the 1st quarter. GAMMA Investing LLC now owns 6,293 shares of the auto parts company's stock valued at $29,000 after buying an additional 6,067 shares during the period. XTX Topco Ltd boosted its stake in shares of Stoneridge by 9.3% during the 1st quarter. XTX Topco Ltd now owns 97,918 shares of the auto parts company's stock valued at $449,000 after buying an additional 8,326 shares during the period. Quantinno Capital Management LP acquired a new stake in shares of Stoneridge in the 4th quarter valued at $63,000. Finally, Assenagon Asset Management S.A. lifted its position in Stoneridge by 18.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 69,092 shares of the auto parts company's stock worth $317,000 after acquiring an additional 10,724 shares during the last quarter. Institutional investors and hedge funds own 98.07% of the company's stock.

Stoneridge Stock Performance

Shares of NYSE:SRI traded up $0.02 during trading on Friday, hitting $8.45. The company's stock had a trading volume of 244,103 shares, compared to its average volume of 172,368. Stoneridge, Inc. has a 12 month low of $3.54 and a 12 month high of $12.45. The firm has a market cap of $236.54 million, a price-to-earnings ratio of -7.82 and a beta of 1.50. The company has a 50-day moving average of $7.96 and a 200-day moving average of $6.15. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.14 and a quick ratio of 1.35.

Stoneridge (NYSE:SRI - Get Free Report) last posted its earnings results on Wednesday, August 6th. The auto parts company reported ($0.25) earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $227.95 million during the quarter, compared to analysts' expectations of $219.90 million. On average, sell-side analysts expect that Stoneridge, Inc. will post -0.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Barrington Research reissued 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 MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $16.00.

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.