Dynamic Technology Lab Private Ltd Acquires New Position in Stoneridge, Inc. (NYSE:SRI)

Dynamic Technology Lab Private Ltd bought a new position in Stoneridge, Inc. (NYSE:SRI) during the third quarter, Holdings Channel.com reports. The institutional investor bought 71,216 shares of the auto parts company’s stock, valued at approximately $797,000.

Several other institutional investors and hedge funds have also made changes to their positions in SRI. US Bancorp DE acquired a new stake in shares of Stoneridge in the third quarter valued at approximately $46,000. nVerses Capital LLC purchased a new stake in Stoneridge in the 3rd quarter valued at $59,000. Olympiad Research LP acquired a new stake in shares of Stoneridge in the 3rd quarter worth $121,000. XTX Topco Ltd purchased a new position in shares of Stoneridge during the 2nd quarter worth $176,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Stoneridge by 12.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,336 shares of the auto parts company’s stock worth $181,000 after acquiring an additional 1,226 shares during the period. 98.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on SRI. Barrington Research restated an “outperform” rating and set a $16.00 price objective on shares of Stoneridge in a research report on Thursday, October 31st. StockNews.com cut shares of Stoneridge from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th.

Stoneridge Price Performance

Stoneridge stock opened at $6.86 on Thursday. 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, Inc. has a 52-week low of $5.89 and a 52-week high of $19.91. The firm has a market cap of $189.95 million, a PE ratio of -25.41 and a beta of 1.36. The company’s 50 day moving average is $8.89 and its two-hundred day moving average is $12.95.

Stoneridge (NYSE:SRI) last posted its quarterly earnings results on Wednesday, October 30th. The auto parts company reported ($0.24) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.32). The firm had revenue of $213.80 million for the quarter, compared to analyst estimates of $229.60 million. Stoneridge had a negative return on equity of 0.42% and a negative net margin of 0.81%. The company’s revenue was down 10.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.10 EPS. On average, research analysts expect that Stoneridge, Inc. will post -0.38 EPS for the current fiscal year.

Stoneridge Profile

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.