Trexquant Investment LP Grows Holdings in Stoneridge, Inc. $SRI

Key Points

• Trexquant Investment LP increased its stake in Stoneridge, Inc. by 57.7%, owning approximately 1.27% of the company after acquiring 129,379 additional shares.
• Stoneridge reported a revenue of $227.95 million for the previous quarter, missing earnings per share estimates by $0.16.
• Wall Street ratings for Stoneridge reflect a consensus "Buy" rating, with an average target price set at $16.00.

Trexquant Investment LP lifted its holdings in Stoneridge, Inc. (NYSE:SRI - Free Report) by 57.7% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 353,572 shares of the auto parts company's stock after acquiring an additional 129,379 shares during the quarter. Trexquant Investment LP owned 1.27% of Stoneridge worth $1,623,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in shares of Stoneridge by 2,684.5% in the 1st quarter. GAMMA Investing LLC now owns 6,293 shares of the auto parts company's stock worth $29,000 after acquiring an additional 6,067 shares during the last quarter. Quantinno Capital Management LP bought a new stake in shares of Stoneridge in the 4th quarter worth approximately $63,000. CWM LLC lifted its holdings in shares of Stoneridge by 580.6% in the 1st quarter. CWM LLC now owns 12,849 shares of the auto parts company's stock worth $59,000 after acquiring an additional 10,961 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Stoneridge by 27.9% in the 4th quarter. Wells Fargo & Company MN now owns 16,021 shares of the auto parts company's stock worth $100,000 after acquiring an additional 3,490 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new stake in shares of Stoneridge in the 4th quarter worth approximately $115,000. 98.07% of the stock is currently owned by institutional investors.

Stoneridge Trading Up 1.3%

NYSE:SRI traded up $0.11 during midday trading on Thursday, reaching $8.28. 144,281 shares of the stock traded hands, compared to its average volume of 188,123. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.35 and a current ratio of 2.14. The company has a fifty day moving average of $7.91 and a 200 day moving average of $6.02. The stock has a market capitalization of $231.75 million, a P/E ratio of -7.66 and a beta of 1.50. Stoneridge, Inc. has a 12 month low of $3.54 and a 12 month high of $12.98.

Stoneridge (NYSE:SRI - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $219.90 million. Stoneridge had a negative net margin of 3.39% and a negative return on equity of 9.24%. On average, research analysts predict that Stoneridge, Inc. will post -0.42 EPS for the current year.

Wall Street Analyst Weigh In

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

Stoneridge Company 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.