Wealth Enhancement Advisory Services LLC Acquires Shares of 13,000 Stoneridge, Inc. $SRI

Wealth Enhancement Advisory Services LLC acquired a new stake in Stoneridge, Inc. (NYSE:SRI) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 13,000 shares of the auto parts company’s stock, valued at approximately $92,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. 22NW LP increased its holdings in Stoneridge by 374.8% in the first quarter. 22NW LP now owns 1,627,653 shares of the auto parts company’s stock valued at $7,471,000 after buying an additional 1,284,866 shares in the last quarter. Millennium Management LLC increased its holdings in Stoneridge by 3.0% in the first quarter. Millennium Management LLC now owns 954,577 shares of the auto parts company’s stock valued at $4,382,000 after buying an additional 28,037 shares in the last quarter. Federated Hermes Inc. increased its holdings in Stoneridge by 17,284.9% in the first quarter. Federated Hermes Inc. now owns 706,347 shares of the auto parts company’s stock valued at $3,242,000 after buying an additional 702,284 shares in the last quarter. Acadian Asset Management LLC increased its holdings in Stoneridge by 35.5% in the first quarter. Acadian Asset Management LLC now owns 593,617 shares of the auto parts company’s stock valued at $2,720,000 after buying an additional 155,673 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in Stoneridge by 213.7% in the first quarter. AQR Capital Management LLC now owns 533,470 shares of the auto parts company’s stock valued at $2,449,000 after buying an additional 363,407 shares in the last quarter. Hedge funds and other institutional investors own 98.07% of the company’s stock.

Stoneridge Stock Down 4.3%

Shares of NYSE SRI opened at $6.41 on Monday. The company has a 50-day moving average of $7.92 and a 200 day moving average of $6.40. Stoneridge, Inc. has a 12-month low of $3.54 and a 12-month high of $10.33. The company has a current ratio of 2.14, a quick ratio of 1.35 and a debt-to-equity ratio of 0.63. The stock has a market cap of $179.54 million, a PE ratio of -5.94 and a beta of 1.47.

Stoneridge (NYSE:SRI) last posted its quarterly earnings results on Wednesday, August 6th. The auto parts company reported ($0.25) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $227.95 million during the quarter, compared to analysts’ expectations of $219.90 million. As a group, sell-side analysts predict that Stoneridge, Inc. will post -0.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Stoneridge in a report on Wednesday, October 8th. Barrington Research reissued an “outperform” rating and set a $16.00 target price on shares of Stoneridge in a research note on Wednesday, August 20th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Stoneridge presently has a consensus rating of “Hold” and an average price target of $16.00.

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.