Stoneridge (NYSE:SRI) Director Ira Kaplan Purchases 5,000 Shares

Stoneridge, Inc. (NYSE:SRI) Director Ira Kaplan purchased 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was purchased at an average price of $7.54 per share, for a total transaction of $37,700.00. Following the acquisition, the director owned 100,046 shares of the company’s stock, valued at $754,346.84. The trade was a 5.26% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Stoneridge Price Performance

Stoneridge stock opened at $7.43 on Friday. The business’s 50-day simple moving average is $6.50 and its 200 day simple moving average is $6.54. The stock has a market cap of $209.77 million, a price-to-earnings ratio of -1.68 and a beta of 1.85. Stoneridge, Inc. has a 12-month low of $4.60 and a 12-month high of $9.71. The company has a quick ratio of 1.37, a current ratio of 2.02 and a debt-to-equity ratio of 1.00.

Stoneridge (NYSE:SRI) last posted its quarterly earnings results on Thursday, May 7th. The auto parts company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.76). The firm had revenue of $160.85 million during the quarter, compared to the consensus estimate of $139.00 million. Stoneridge had a negative net margin of 15.24% and a negative return on equity of 22.50%. As a group, research analysts anticipate that Stoneridge, Inc. will post -0.74 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on SRI. Zacks Research downgraded Stoneridge from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Stoneridge in a research note on Friday, March 27th. Wall Street Zen downgraded Stoneridge from a “buy” rating to a “hold” rating in a research note on Sunday, March 22nd. Finally, Barrington Research downgraded Stoneridge from an “outperform” rating to a “market perform” rating in a research note on Monday, March 16th. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Sell” and a consensus price target of $16.00.

Institutional Trading of Stoneridge

A number of large investors have recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership increased its holdings in Stoneridge by 285.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 518,105 shares of the auto parts company’s stock worth $3,948,000 after purchasing an additional 383,805 shares in the last quarter. AQR Capital Management LLC increased its holdings in Stoneridge by 213.7% during the 1st quarter. AQR Capital Management LLC now owns 533,470 shares of the auto parts company’s stock worth $2,449,000 after purchasing an additional 363,407 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Stoneridge by 340.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 256,791 shares of the auto parts company’s stock worth $1,487,000 after purchasing an additional 198,423 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Stoneridge by 50.0% during the 4th quarter. Russell Investments Group Ltd. now owns 575,670 shares of the auto parts company’s stock worth $3,333,000 after purchasing an additional 191,953 shares in the last quarter. Finally, Marshall Wace LLP increased its holdings in Stoneridge by 186.7% during the 2nd quarter. Marshall Wace LLP now owns 293,987 shares of the auto parts company’s stock worth $2,070,000 after purchasing an additional 191,444 shares in the last quarter. Institutional investors own 98.07% of the company’s stock.

Stoneridge Company Profile

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.