Royce & Associates LP Trims Position in Stoneridge, Inc. (NYSE:SRI)

Royce & Associates LP lowered its stake in Stoneridge, Inc. (NYSE:SRI) by 5.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,281,623 shares of the auto parts company’s stock after selling 75,420 shares during the period. Royce & Associates LP owned 4.63% of Stoneridge worth $8,036,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in SRI. Raymond James Financial Inc. bought a new stake in shares of Stoneridge during the 4th quarter valued at about $2,180,000. Dynamic Technology Lab Private Ltd bought a new stake in Stoneridge during the 3rd quarter valued at approximately $797,000. Jane Street Group LLC grew its holdings in shares of Stoneridge by 218.3% during the 3rd quarter. Jane Street Group LLC now owns 69,734 shares of the auto parts company’s stock worth $780,000 after acquiring an additional 47,829 shares during the period. Walleye Capital LLC bought a new position in shares of Stoneridge in the 3rd quarter worth approximately $483,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Stoneridge by 296.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 56,696 shares of the auto parts company’s stock valued at $634,000 after purchasing an additional 42,379 shares during the period. 98.07% of the stock is owned by hedge funds and other institutional investors.

Stoneridge Stock Down 3.2 %

SRI stock opened at $4.99 on Wednesday. The business has a 50 day moving average of $5.04 and a 200 day moving average of $7.36. The firm has a market cap of $138.09 million, a PE ratio of -18.47 and a beta of 1.27. Stoneridge, Inc. has a twelve month low of $4.11 and a twelve month high of $18.57. The company has a quick ratio of 1.40, a current ratio of 2.44 and a debt-to-equity ratio of 0.72.

Stoneridge (NYSE:SRI) last posted its quarterly earnings results on Wednesday, February 26th. The auto parts company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.36). The company had revenue of $218.20 million during the quarter, compared to analysts’ expectations of $207.61 million. Stoneridge had a negative return on equity of 0.42% and a negative net margin of 0.81%. On average, research analysts forecast that Stoneridge, Inc. will post -0.42 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on SRI. StockNews.com downgraded Stoneridge from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. Barrington Research reissued an “outperform” rating and set a $16.00 price target on shares of Stoneridge in a research report on Tuesday, March 4th.

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.