Insider Buying: Stoneridge (NYSE:SRI) Director Acquires $37,700.00 in Stock

Stoneridge, Inc. (NYSE:SRI) Director Ira Kaplan acquired 5,000 shares of the business’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 completion of the transaction, the director owned 100,046 shares in the company, valued at $754,346.84. The trade was a 5.26% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Stoneridge Trading Down 4.2%

Shares of NYSE:SRI opened at $7.10 on Friday. The company has a market cap of $200.50 million, a PE ratio of -1.61 and a beta of 1.85. The company’s 50-day moving average price is $6.54 and its 200 day moving average price is $6.55. Stoneridge, Inc. has a fifty-two week low of $4.60 and a fifty-two week 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 data on Thursday, May 7th. The auto parts company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.76). The company had revenue of $160.85 million during the quarter, compared to analyst estimates of $139.00 million. Stoneridge had a negative return on equity of 22.50% and a negative net margin of 15.24%. Sell-side analysts anticipate that Stoneridge, Inc. will post -0.74 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Zacks Research cut shares of Stoneridge from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Stoneridge in a report on Friday, March 27th. Barrington Research cut Stoneridge from an “outperform” rating to a “market perform” rating in a research note on Monday, March 16th. Finally, Wall Street Zen cut Stoneridge from a “buy” rating to a “hold” rating in a research note on Sunday, March 22nd. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Sell” and an average price target of $16.00.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SRI. Strs Ohio acquired a new position in shares of Stoneridge in the first quarter valued at $39,000. Quadrature Capital Ltd acquired a new position in Stoneridge during the fourth quarter worth $61,000. NewEdge Advisors LLC bought a new stake in shares of Stoneridge during the fourth quarter worth $62,000. WINTON GROUP Ltd bought a new stake in shares of Stoneridge during the fourth quarter worth $69,000. Finally, Jain Global LLC bought a new stake in shares of Stoneridge during the fourth quarter worth $77,000. 98.07% of the stock is currently owned by institutional investors and hedge funds.

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.