Natalia Noblet Acquires 5,000 Shares of Stoneridge (NYSE:SRI) Stock

Key Points

• CEO Natalia Noblet purchased 5,000 Stoneridge shares at an average price of $7.31, investing $36,550 and bringing her total ownership to 5,000 shares.
• Stoneridge’s stock fell to $6.80 after its latest earnings report, in which the company posted an adjusted loss of $0.18 per share, missing estimates, despite revenue of $181.38 million exceeding expectations.
• Analyst sentiment remains cautious, with the stock carrying a consensus “Reduce” rating and a $16 target price; institutional investors own approximately 98.07% of the shares.

Stoneridge, Inc. (NYSE:SRI - Get Free Report) CEO Natalia Noblet purchased 5,000 shares of the business's stock in a transaction on Monday, August 10th. The stock was bought at an average cost of $7.31 per share, with a total value of $36,550.00. Following the purchase, the chief executive officer owned 5,000 shares in the company, valued at approximately $36,550. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link.

Stoneridge Price Performance

Shares of Stoneridge stock traded down $0.31 on Tuesday, hitting $6.80. 191,408 shares of the company traded hands, compared to its average volume of 225,261. The firm's 50-day simple moving average is $7.27 and its 200 day simple moving average is $7.01. The company has a current ratio of 1.89, a quick ratio of 1.27 and a debt-to-equity ratio of 1.01. The company has a market cap of $194.02 million, a P/E ratio of -1.60 and a beta of 1.85. Stoneridge, Inc. has a 12-month low of $4.60 and a 12-month high of $9.71.

Stoneridge (NYSE:SRI - Get Free Report) last announced its earnings results on Wednesday, August 5th. The auto parts company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.26). The company had revenue of $181.38 million during the quarter, compared to analysts' expectations of $161.85 million. Stoneridge had a negative return on equity of 24.91% and a negative net margin of 15.64%. Analysts expect that Stoneridge, Inc. will post -0.74 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Zacks Research upgraded Stoneridge from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 21st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Stoneridge in a research note on Wednesday, June 24th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Reduce" and a consensus target price of $16.00.

Institutional Investors Weigh In On Stoneridge

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ameriprise Financial Inc. lifted its position in Stoneridge by 2.0% in the third quarter. Ameriprise Financial Inc. now owns 93,729 shares of the auto parts company's stock valued at $714,000 after purchasing an additional 1,815 shares during the last quarter. Jane Street Group LLC increased its stake in shares of Stoneridge by 1.9% in the fourth quarter. Jane Street Group LLC now owns 115,259 shares of the auto parts company's stock worth $667,000 after buying an additional 2,178 shares during the period. State Street Corp raised its holdings in Stoneridge by 2.6% during the 4th quarter. State Street Corp now owns 134,334 shares of the auto parts company's stock valued at $778,000 after buying an additional 3,400 shares during the last quarter. Algert Global LLC boosted its position in Stoneridge by 19.8% during the 3rd quarter. Algert Global LLC now owns 25,880 shares of the auto parts company's stock valued at $197,000 after buying an additional 4,270 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Stoneridge by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 317,846 shares of the auto parts company's stock worth $1,841,000 after acquiring an additional 4,545 shares during the last quarter. Institutional investors own 98.07% of the company's stock.

About Stoneridge

Stoneridge, Inc NYSE: SRI is a global developer and manufacturer of highly engineered electrical and electronic components for the automotive and commercial vehicle markets. The company's product offerings span a range of safety, convenience and control systems, delivering tailored solutions that help original equipment manufacturers (OEMs) meet increasingly stringent regulatory and performance requirements.

Among Stoneridge's core products are rearview and side-view mirror systems, camera-based advanced driver assistance systems (ADAS) and interior and exterior lighting solutions.

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