Stoneridge, Inc. $SRI Shares Sold by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC reduced its position in Stoneridge, Inc. by 58.8%, owning 78,773 shares after selling 112,211 shares during the first quarter.
• Stoneridge reported a loss of $0.25 earnings per share (EPS) for the last quarter, missing the consensus estimate by $0.16, while its revenue was $227.95 million.
• The stock has a consensus rating of "Buy" with a target price set at $16.00 by Barrington Research, despite the company's negative net margin of 3.39%.

Cubist Systematic Strategies LLC lowered its position in Stoneridge, Inc. (NYSE:SRI - Free Report) by 58.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 78,773 shares of the auto parts company's stock after selling 112,211 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.28% of Stoneridge worth $362,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of SRI. GAMMA Investing LLC lifted its holdings in 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 during the period. CWM LLC lifted its holdings in 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 during the period. Quantinno Capital Management LP acquired a new position in Stoneridge in the fourth quarter valued at approximately $63,000. Quantbot Technologies LP lifted its holdings in 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 during the period. Finally, Schonfeld Strategic Advisors LLC acquired a new position in Stoneridge in the fourth quarter valued at approximately $115,000. 98.07% of the stock is owned by institutional investors and hedge funds.

Stoneridge Price Performance

Shares of SRI stock traded down $0.13 during trading hours on Friday, hitting $8.14. 113,570 shares of the company's stock were exchanged, compared to its average volume of 184,218. 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 firm has a market cap of $227.92 million, a P/E ratio of -7.53 and a beta of 1.50. The firm has a 50 day moving average of $7.91 and a two-hundred day moving average of $6.06. Stoneridge, Inc. has a fifty-two week low of $3.54 and a fifty-two week high of $12.98.

Stoneridge (NYSE:SRI - Get Free Report) last announced its earnings results on Wednesday, August 6th. The auto parts company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.16). The business 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%. Sell-side analysts forecast that Stoneridge, Inc. will post -0.42 EPS for the current year.

Analyst Ratings Changes

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