Walleye Capital LLC Purchases New Stake in Strattec Security Corporation $STRT

Key Points

• Walleye Capital LLC has made a new investment of approximately $245,000 in Strattec Security Corporation by acquiring 6,203 shares, representing about 0.15% of the company.
• Strattec Security recently reported earnings of $2.06 per share, significantly exceeding analysts' expectations of $1.07, with revenue reaching $152.01 million for the quarter.
• Insider transactions revealed that COO Rolando Guillot sold 22,890 shares of the company, indicating an 80.51% decrease in ownership, which was valued at approximately $1.5 million.

Walleye Capital LLC purchased a new position in shares of Strattec Security Corporation (NASDAQ:STRT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,203 shares of the auto parts company's stock, valued at approximately $245,000. Walleye Capital LLC owned about 0.15% of Strattec Security as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its stake in Strattec Security by 3.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 234,260 shares of the auto parts company's stock worth $9,652,000 after buying an additional 7,880 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Strattec Security by 16.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 54,202 shares of the auto parts company's stock worth $2,139,000 after buying an additional 7,726 shares during the period. De Lisle Partners LLP grew its stake in Strattec Security by 2.4% during the first quarter. De Lisle Partners LLP now owns 44,129 shares of the auto parts company's stock worth $1,736,000 after buying an additional 1,035 shares during the period. American Century Companies Inc. grew its stake in Strattec Security by 217.1% during the first quarter. American Century Companies Inc. now owns 43,088 shares of the auto parts company's stock worth $1,700,000 after buying an additional 29,498 shares during the period. Finally, Susquehanna International Group LLP purchased a new stake in Strattec Security during the fourth quarter worth approximately $1,765,000. 68.91% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on STRT. Wall Street Zen upgraded shares of Strattec Security from a "buy" rating to a "strong-buy" rating in a research note on Monday, September 1st. Zacks Research downgraded shares of Strattec Security from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 19th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of "Sell".

Strattec Security Stock Down 0.1%

Shares of STRT stock traded down $0.08 on Wednesday, hitting $67.30. The stock had a trading volume of 42,275 shares, compared to its average volume of 108,882. The firm has a market capitalization of $279.97 million, a price-to-earnings ratio of 14.73, a P/E/G ratio of 1.59 and a beta of 1.37. The stock's 50 day moving average is $66.88 and its 200-day moving average is $53.28. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.89 and a current ratio of 2.43. Strattec Security Corporation has a 52-week low of $31.57 and a 52-week high of $83.00.

Strattec Security (NASDAQ:STRT - Get Free Report) last announced its earnings results on Thursday, August 14th. The auto parts company reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.99. The business had revenue of $152.01 million during the quarter, compared to the consensus estimate of $143.51 million. Strattec Security had a net margin of 3.31% and a return on equity of 8.95%. As a group, research analysts expect that Strattec Security Corporation will post 3.67 earnings per share for the current year.

Insider Transactions at Strattec Security

In related news, COO Rolando Guillot sold 22,890 shares of the company's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $65.86, for a total value of $1,507,535.40. Following the sale, the chief operating officer directly owned 5,541 shares of the company's stock, valued at $364,930.26. This represents a 80.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 6.40% of the stock is owned by corporate insiders.

Strattec Security Company Profile

Strattec Security Corporation designs, develops, manufactures, and markets automotive access control products under the VAST Automotive Group brand primarily in North America. The company provides mechanical and electronically enhanced locks and keys, passive entry passive start systems, steering column and instrument panel ignition lock housings, latches, power sliding side door systems, power tailgate and lift gate systems, power deck lid systems, door handles, and related products.