Man Group plc Buys Shares of 279,924 Stoneridge, Inc. $SRI

Man Group plc bought a new stake in Stoneridge, Inc. (NYSE:SRI) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 279,924 shares of the auto parts company’s stock, valued at approximately $2,049,000.

A number of other hedge funds have also made changes to their positions in SRI. Strs Ohio acquired a new stake in shares of Stoneridge during the first quarter worth approximately $39,000. Quadrature Capital Ltd purchased a new stake in Stoneridge in the 4th quarter worth approximately $61,000. NewEdge Advisors LLC purchased a new stake in Stoneridge in the 4th quarter worth approximately $62,000. WINTON GROUP Ltd acquired a new stake in shares of Stoneridge during the 4th quarter valued at $69,000. Finally, Jain Global LLC acquired a new stake in shares of Stoneridge during the 4th quarter valued at $77,000. 98.07% of the stock is owned by hedge funds and other institutional investors.

Stoneridge Trading Up 2.2%

Shares of NYSE:SRI opened at $7.07 on Wednesday. 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 stock has a market capitalization of $201.64 million, a PE ratio of -1.66 and a beta of 1.88. The firm has a fifty day moving average price of $7.18 and a 200 day moving average price of $6.98. Stoneridge, Inc. has a 1 year low of $4.60 and a 1 year high of $9.71.

Stoneridge (NYSE:SRI) last announced its earnings results on Wednesday, August 5th. The auto parts company reported ($0.18) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.26). The firm had revenue of $181.38 million during the quarter, compared to the consensus estimate 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 -0.82 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, CEO Natalia Noblet purchased 5,000 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were bought at an average cost of $7.31 per share, for a total transaction of $36,550.00. Following the transaction, the chief executive officer directly owned 5,000 shares of the company’s stock, valued at approximately $36,550. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director William M. Lasky acquired 5,000 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were bought at an average price of $7.46 per share, for a total transaction of $37,300.00. Following the acquisition, the director owned 192,666 shares in the company, valued at approximately $1,437,288.36. This trade represents a 2.66% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 16,000 shares of company stock worth $115,910 in the last ninety days. Insiders own 11.00% of the company’s stock.

Stoneridge 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.