Voya Investment Management LLC Purchases 35,177 Shares of Stoneridge, Inc. $SRI

Key Points

• Voya Investment Management LLC increased its stake in Stoneridge, Inc. by 77.0%, acquiring an additional 35,177 shares to own a total of 80,891 shares valued at approximately $371,000.
• Institutional investors now hold 98.07% of Stoneridge's stock, reflecting significant interest from multiple hedge funds increasing their stakes recently.
• Stoneridge reported a loss per share of ($0.25) in its latest quarterly earnings, missing estimates and indicating negative margins despite revenues of $227.95 million.

Voya Investment Management LLC boosted its position in shares of Stoneridge, Inc. (NYSE:SRI - Free Report) by 77.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 80,891 shares of the auto parts company's stock after buying an additional 35,177 shares during the quarter. Voya Investment Management LLC owned approximately 0.29% of Stoneridge worth $371,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Stoneridge by 78.2% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 88,937 shares of the auto parts company's stock valued at $408,000 after buying an additional 39,028 shares during the last quarter. Acadian Asset Management LLC raised its holdings in Stoneridge by 35.5% during the 1st quarter. Acadian Asset Management LLC now owns 593,617 shares of the auto parts company's stock valued at $2,720,000 after buying an additional 155,673 shares during the last quarter. Two Sigma Investments LP bought a new stake in Stoneridge during the 4th quarter valued at $698,000. Public Employees Retirement System of Ohio raised its holdings in Stoneridge by 119.2% during the 4th quarter. Public Employees Retirement System of Ohio now owns 39,324 shares of the auto parts company's stock valued at $247,000 after buying an additional 21,388 shares during the last quarter. Finally, 22NW LP raised its holdings in Stoneridge by 374.8% during the 1st quarter. 22NW LP now owns 1,627,653 shares of the auto parts company's stock valued at $7,471,000 after buying an additional 1,284,866 shares during the last quarter. 98.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Barrington Research reiterated an "outperform" rating and set 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, According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $16.00.

Stoneridge Stock Down 3.0%

Shares of NYSE SRI opened at $7.52 on Friday. 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, Inc. has a 12 month low of $3.54 and a 12 month high of $11.82. The firm has a market capitalization of $210.50 million, a PE ratio of -6.96 and a beta of 1.50. The firm has a fifty day simple moving average of $8.05 and a two-hundred day simple moving average of $6.24.

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.