Stoneridge, Inc. $SRI Position Trimmed by Walleye Capital LLC

Key Points

• Walleye Capital LLC reduced its stake in Stoneridge, Inc. by 26.8% in Q1, holding 148,583 shares worth approximately $682,000 after selling 54,322 shares.
• Stoneridge recently reported a loss of $0.25 per share for the quarter, missing analysts' expectations, despite generating revenue of $227.95 million.
• Analysts maintain a consensus "Buy" rating for Stoneridge, with Barrington Research setting a target price of $16.00 per share.

Walleye Capital LLC trimmed its holdings in shares of Stoneridge, Inc. (NYSE:SRI - Free Report) by 26.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 148,583 shares of the auto parts company's stock after selling 54,322 shares during the period. Walleye Capital LLC owned about 0.53% of Stoneridge worth $682,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SRI. GAMMA Investing LLC lifted its position in Stoneridge by 2,684.5% during the first 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 in the last quarter. CWM LLC lifted its position in Stoneridge by 580.6% during the first quarter. CWM LLC now owns 12,849 shares of the auto parts company's stock valued at $59,000 after buying an additional 10,961 shares in the last quarter. Quantinno Capital Management LP acquired a new position in Stoneridge during the fourth quarter valued at approximately $63,000. Quantbot Technologies LP lifted its position 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 buying an additional 4,318 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in Stoneridge by 27.9% during the fourth quarter. Wells Fargo & Company MN now owns 16,021 shares of the auto parts company's stock valued at $100,000 after buying an additional 3,490 shares in the last quarter. 98.07% of the stock is owned by institutional investors and hedge funds.

Stoneridge Stock Down 1.1%

Shares of NYSE:SRI traded down $0.10 during midday trading on Friday, reaching $8.25. The company had a trading volume of 44,455 shares, compared to its average volume of 343,714. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.14 and a quick ratio of 1.35. The stock's fifty day moving average price is $7.83 and its 200-day moving average price is $5.88. The stock has a market capitalization of $230.94 million, a P/E ratio of -7.65 and a beta of 1.50. Stoneridge, Inc. has a one year low of $3.54 and a one year high of $13.18.

Stoneridge (NYSE:SRI - Get Free Report) last issued its quarterly 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 during 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%. Equities research analysts expect that Stoneridge, Inc. will post -0.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SRI shares. Wall Street Zen raised shares of Stoneridge from a "hold" rating to a "buy" rating in a research report on Tuesday, May 13th. Barrington Research reiterated an "outperform" rating and set a $16.00 price objective on shares of Stoneridge in a research note on Wednesday, August 20th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $16.00.

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.