Natalia Noblet Acquires 5,000 Shares of Stoneridge (NYSE:SRI) Stock

Stoneridge, Inc. (NYSE:SRI) CEO Natalia Noblet purchased 5,000 shares of Stoneridge stock in a transaction that occurred on Monday, August 10th. The shares were acquired at an average price of $7.31 per share, for a total transaction of $36,550.00. Following the acquisition, the chief executive officer owned 5,000 shares in the company, valued at $36,550. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Stoneridge Trading Down 4.3%

NYSE SRI traded down $0.31 on Tuesday, hitting $6.80. The company’s stock had a trading volume of 191,408 shares, compared to its average volume of 225,261. The firm has a market cap of $194.02 million, a P/E ratio of -1.60 and a beta of 1.85. Stoneridge, Inc. has a 52-week low of $4.60 and a 52-week high of $9.71. The company’s 50-day simple moving average is $7.27 and its 200 day simple moving average is $7.01. The company has a current ratio of 1.89, a quick ratio of 1.27 and a debt-to-equity ratio of 1.01.

Stoneridge (NYSE:SRI) last posted its earnings results on Wednesday, August 5th. The auto parts company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.26). The business had revenue of $181.38 million for the quarter, compared to analysts’ expectations of $161.85 million. Stoneridge had a negative net margin of 15.64% and a negative return on equity of 24.91%. Research analysts predict that Stoneridge, Inc. will post -0.74 EPS for the current fiscal year.

Institutional Investors Weigh In On Stoneridge

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp purchased a new position in Stoneridge during the second quarter valued at $525,000. Bank of America Corp DE grew its position in shares of Stoneridge by 113.3% in the 1st quarter. Bank of America Corp DE now owns 68,896 shares of the auto parts company’s stock worth $333,000 after buying an additional 36,590 shares during the period. Deutsche Bank AG bought a new position in shares of Stoneridge in the 2nd quarter worth about $201,000. BlackRock Inc. bought a new position in shares of Stoneridge in the 2nd quarter worth about $18,734,000. Finally, Sei Investments Co. increased its stake in shares of Stoneridge by 45.6% in the 1st quarter. Sei Investments Co. now owns 31,090 shares of the auto parts company’s stock worth $150,000 after acquiring an additional 9,732 shares in the last quarter. 98.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SRI has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Stoneridge in a research report on Wednesday, June 24th. Zacks Research upgraded shares of Stoneridge from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 21st. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Stoneridge presently has a consensus rating of “Reduce” and a consensus target price of $16.00.

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.