Stoneridge, Inc. (NYSE:SRI) Shares Sold by Granahan Investment Management LLC

Granahan Investment Management LLC trimmed its position in Stoneridge, Inc. (NYSE:SRI) by 15.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 407,824 shares of the auto parts company’s stock after selling 76,661 shares during the quarter. Granahan Investment Management LLC owned about 1.48% of Stoneridge worth $7,626,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Synovus Financial Corp lifted its position in Stoneridge by 5.7% in the first quarter. Synovus Financial Corp now owns 14,312 shares of the auto parts company’s stock valued at $294,000 after buying an additional 778 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Stoneridge by 6.3% during the 4th quarter. JPMorgan Chase & Co. now owns 15,529 shares of the auto parts company’s stock worth $335,000 after purchasing an additional 914 shares during the period. Credit Suisse AG increased its holdings in Stoneridge by 6.0% in the 2nd quarter. Credit Suisse AG now owns 19,886 shares of the auto parts company’s stock valued at $341,000 after purchasing an additional 1,125 shares during the last quarter. Rhumbline Advisers lifted its stake in Stoneridge by 3.4% during the second quarter. Rhumbline Advisers now owns 40,233 shares of the auto parts company’s stock worth $690,000 after purchasing an additional 1,319 shares in the last quarter. Finally, US Bancorp DE boosted its position in shares of Stoneridge by 138.3% during the first quarter. US Bancorp DE now owns 2,342 shares of the auto parts company’s stock worth $48,000 after buying an additional 1,359 shares during the period. Hedge funds and other institutional investors own 98.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SRI. Barrington Research raised Stoneridge from a “market perform” rating to an “outperform” rating in a research note on Thursday, August 3rd. StockNews.com began coverage on shares of Stoneridge in a report on Thursday, August 17th. They set a “buy” rating on the stock.

Stoneridge Price Performance

SRI stock opened at $19.15 on Monday. Stoneridge, Inc. has a 12 month low of $14.18 and a 12 month high of $25.87. The company has a market cap of $527.01 million, a price-to-earnings ratio of -56.32 and a beta of 1.40. The company has a fifty day moving average price of $20.55 and a 200 day moving average price of $18.96.

Stoneridge (NYSE:SRI) last released its quarterly earnings results on Wednesday, August 2nd. The auto parts company reported ($0.11) EPS for the quarter, hitting the consensus estimate of ($0.11). The business had revenue of $266.81 million during the quarter, compared to analysts’ expectations of $242.13 million. Stoneridge had a negative return on equity of 1.51% and a negative net margin of 0.97%. The company’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.29) earnings per share. As a group, analysts anticipate that Stoneridge, Inc. will post 0.09 earnings per share for the current year.

Insider Buying and Selling

In other Stoneridge news, insider Rajaey Kased bought 2,525 shares of the company’s stock in a transaction on Wednesday, August 30th. The shares were bought at an average price of $20.12 per share, for a total transaction of $50,803.00. Following the transaction, the insider now owns 4,333 shares of the company’s stock, valued at approximately $87,179.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director George S. Mayes, Jr. sold 2,500 shares of Stoneridge stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $21.30, for a total transaction of $53,250.00. Following the completion of the sale, the director now directly owns 67,492 shares in the company, valued at approximately $1,437,579.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Rajaey Kased purchased 2,525 shares of the stock in a transaction that occurred on Wednesday, August 30th. The stock was purchased at an average price of $20.12 per share, for a total transaction of $50,803.00. Following the acquisition, the insider now owns 4,333 shares in the company, valued at $87,179.96. The disclosure for this purchase can be found here. 4.40% of the stock is currently owned by corporate insiders.

About Stoneridge

Stoneridge, Inc, together with its subsidiaries, designs and manufactures engineered electrical and electronic components, modules, and systems for the automotive, commercial, off-highway, motorcycle, and agricultural vehicle markets in North America, South America, Europe, and internationally. The company operates in three segments: Control Devices, Electronics, and Stoneridge Brazil.