Acadian Asset Management LLC Boosts Holdings in 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% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 593,617 shares of the auto parts company's stock after purchasing an additional 155,673 shares during the quarter. 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 large investors also recently bought and sold shares of SRI. 22NW LP raised its position in Stoneridge by 374.8% during the 1st quarter. 22NW LP now owns 1,627,653 shares of the auto parts company's stock worth $7,471,000 after buying an additional 1,284,866 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Stoneridge by 440.8% in the 4th quarter. Millennium Management LLC now owns 926,540 shares of the auto parts company's stock valued at $5,809,000 after purchasing an additional 755,223 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of Stoneridge by 17,284.9% in the 1st quarter. Federated Hermes Inc. now owns 706,347 shares of the auto parts company's stock valued at $3,242,000 after purchasing an additional 702,284 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Stoneridge by 213.7% in the 1st quarter. AQR Capital Management LLC now owns 533,470 shares of the auto parts company's stock valued at $2,449,000 after purchasing an additional 363,407 shares in the last quarter. Finally, GSA Capital Partners LLP increased its holdings in shares of Stoneridge by 366.2% in the 1st quarter. GSA Capital Partners LLP now owns 273,563 shares of the auto parts company's stock valued at $1,256,000 after purchasing an additional 214,888 shares in the last quarter. Hedge funds and other institutional investors own 98.07% of the company's stock.

Stoneridge Trading Up 0.7%

Shares of Stoneridge stock traded up $0.06 during mid-day trading on Friday, hitting $8.49. 99,159 shares of the stock were exchanged, compared to its average volume of 334,095. Stoneridge, Inc. has a twelve month low of $3.54 and a twelve month high of $12.45. The stock has a market capitalization of $237.80 million, a price-to-earnings ratio of -7.87 and a beta of 1.50. The company has a 50-day simple moving average of $7.94 and a 200 day simple moving average of $6.13. The company has a current ratio of 2.14, a quick ratio of 1.35 and a debt-to-equity ratio of 0.63.

Stoneridge (NYSE:SRI - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The auto parts company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.16). The firm had revenue of $227.95 million for the quarter, compared to analyst estimates of $219.90 million. Stoneridge had a negative return on equity of 9.24% and a negative net margin of 3.39%. Research analysts forecast that Stoneridge, Inc. will post -0.42 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Barrington Research reiterated an "outperform" rating and issued a $16.00 price target on shares of Stoneridge in a report on Wednesday, August 20th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Stoneridge has an average rating of "Buy" and a consensus price target 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.