Cubist Systematic Strategies LLC Decreases Position in Stoneridge, Inc. $SRI

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 lessened its position in shares of Stoneridge, Inc. (NYSE:SRI - Free Report) by 58.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 78,773 shares of the auto parts company's stock after selling 112,211 shares during the quarter. Cubist Systematic Strategies LLC owned 0.28% of Stoneridge worth $362,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Quantbot Technologies LP boosted 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 purchasing an additional 4,318 shares during the last quarter. GAMMA Investing LLC boosted its stake 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 worth $29,000 after buying an additional 6,067 shares during the last quarter. XTX Topco Ltd boosted its stake in shares of Stoneridge by 9.3% in the first quarter. XTX Topco Ltd now owns 97,918 shares of the auto parts company's stock worth $449,000 after buying an additional 8,326 shares during the last quarter. Quantinno Capital Management LP purchased a new stake in shares of Stoneridge in the fourth quarter worth about $63,000. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Stoneridge by 18.4% in the first quarter. Assenagon Asset Management S.A. now owns 69,092 shares of the auto parts company's stock worth $317,000 after buying an additional 10,724 shares during the last quarter. Hedge funds and other institutional investors own 98.07% of the company's stock.

Stoneridge Price Performance

SRI stock traded down $0.01 during mid-day trading on Wednesday, reaching $8.21. 227,980 shares of the company's stock were exchanged, compared to its average volume of 181,613. The company has a market cap of $229.79 million, a price-to-earnings ratio of -7.60 and a beta of 1.50. The stock's 50 day moving average is $7.92 and its 200 day moving average is $6.11. 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, Inc. has a 12-month low of $3.54 and a 12-month high of $12.96.

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 (EPS) 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 for the quarter, compared to analysts' expectations of $219.90 million. On average, research analysts expect that Stoneridge, Inc. will post -0.42 EPS for the current year.

Analyst Ratings Changes

Separately, Barrington Research restated an "outperform" rating and issued a $16.00 price objective on shares of Stoneridge in a research report on Wednesday, August 20th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and a consensus 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.