Stoneridge, Inc. $SRI Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. cut its stake in shares of Stoneridge, Inc. (NYSE:SRI) by 15.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 58,368 shares of the auto parts company’s stock after selling 10,724 shares during the quarter. Assenagon Asset Management S.A. owned about 0.21% of Stoneridge worth $411,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Stoneridge during the 2nd quarter worth $92,000. Voya Investment Management LLC grew its stake in Stoneridge by 77.0% in the 1st quarter. Voya Investment Management LLC now owns 80,891 shares of the auto parts company’s stock valued at $371,000 after acquiring an additional 35,177 shares during the last quarter. Strs Ohio acquired a new stake in Stoneridge in the 1st quarter valued at about $39,000. Acadian Asset Management LLC grew its stake in Stoneridge by 35.5% in the 1st quarter. Acadian Asset Management LLC now owns 593,617 shares of the auto parts company’s stock valued at $2,720,000 after acquiring an additional 155,673 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Stoneridge by 55.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 490,160 shares of the auto parts company’s stock valued at $2,250,000 after acquiring an additional 175,736 shares during the last quarter. 98.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Barrington Research reissued an “outperform” rating and issued a $16.00 price objective on shares of Stoneridge in a research note on Wednesday, August 20th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $16.00.

Stoneridge Price Performance

Stoneridge stock opened at $7.52 on Monday. Stoneridge, Inc. has a 12-month low of $3.54 and a 12-month high of $11.82. The stock has a market capitalization of $210.50 million, a P/E ratio of -6.96 and a beta of 1.50. The firm’s 50-day moving average is $8.05 and its two-hundred day moving average is $6.25. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.14 and a quick ratio of 1.35.

Stoneridge (NYSE:SRI) last released its earnings results on Wednesday, August 6th. The auto parts company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.16). Stoneridge had a negative net margin of 3.39% and a negative return on equity of 9.24%. The company had revenue of $227.95 million during the quarter, compared to analysts’ expectations of $219.90 million. Equities analysts predict that Stoneridge, Inc. will post -0.42 earnings per share for the current 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.