Quarry LP Makes New Investment in Stoneridge, Inc. (NYSE:SRI)

Quarry LP acquired a new position in shares of Stoneridge, Inc. (NYSE:SRI) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 3,959 shares of the auto parts company’s stock, valued at approximately $44,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Thrivent Financial for Lutherans boosted its holdings in shares of Stoneridge by 0.8% in the third quarter. Thrivent Financial for Lutherans now owns 3,035,643 shares of the auto parts company’s stock valued at $33,969,000 after acquiring an additional 24,548 shares in the last quarter. Royce & Associates LP boosted its holdings in shares of Stoneridge by 12.3% in the third quarter. Royce & Associates LP now owns 1,357,043 shares of the auto parts company’s stock valued at $15,185,000 after acquiring an additional 148,461 shares in the last quarter. EVR Research LP boosted its holdings in shares of Stoneridge by 36.3% in the second quarter. EVR Research LP now owns 545,000 shares of the auto parts company’s stock valued at $8,698,000 after acquiring an additional 145,000 shares in the last quarter. AYAL Capital Advisors Ltd boosted its holdings in shares of Stoneridge by 3.4% in the second quarter. AYAL Capital Advisors Ltd now owns 390,393 shares of the auto parts company’s stock valued at $6,231,000 after acquiring an additional 12,900 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of Stoneridge by 2.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 178,248 shares of the auto parts company’s stock valued at $1,995,000 after purchasing an additional 3,748 shares during the period. 98.07% of the stock is owned by hedge funds and other institutional investors.

Stoneridge Stock Performance

Shares of SRI opened at $6.51 on Wednesday. The company has a current ratio of 2.44, a quick ratio of 1.40 and a debt-to-equity ratio of 0.72. The stock has a market cap of $180.26 million, a P/E ratio of -24.11 and a beta of 1.35. The company has a 50-day moving average of $8.02 and a two-hundred day moving average of $12.31. Stoneridge, Inc. has a 12-month low of $5.89 and a 12-month high of $19.91.

Stoneridge (NYSE:SRI) last announced its earnings results on Wednesday, October 30th. The auto parts company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.32). The business had revenue of $213.80 million for the quarter, compared to analyst estimates of $229.60 million. Stoneridge had a negative return on equity of 0.42% and a negative net margin of 0.81%. The business’s revenue was down 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.10 EPS. As a group, research analysts predict that Stoneridge, Inc. will post -0.42 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on SRI shares. Barrington Research reiterated an “outperform” rating and issued a $16.00 price objective on shares of Stoneridge in a research note on Thursday, October 31st. StockNews.com cut shares of Stoneridge from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th.

About Stoneridge

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.