Connor Clark & Lunn Investment Management Ltd. Sells 30,396 Shares of Stoneridge, Inc. $SRI

Connor Clark & Lunn Investment Management Ltd. lessened its position in Stoneridge, Inc. (NYSE:SRI) by 34.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,541 shares of the auto parts company’s stock after selling 30,396 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.21% of Stoneridge worth $412,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of SRI. Strs Ohio bought a new position in Stoneridge in the 1st quarter worth about $39,000. CWM LLC increased its stake in shares of Stoneridge by 580.6% during the first quarter. CWM LLC now owns 12,849 shares of the auto parts company’s stock valued at $59,000 after buying an additional 10,961 shares during the period. R Squared Ltd bought a new stake in shares of Stoneridge in the second quarter valued at about $80,000. Savant Capital LLC bought a new stake in shares of Stoneridge in the second quarter valued at about $87,000. Finally, Quantbot Technologies LP lifted its stake in Stoneridge by 27.6% in the first quarter. Quantbot Technologies LP now owns 19,984 shares of the auto parts company’s stock worth $92,000 after acquiring an additional 4,318 shares during the period. Hedge funds and other institutional investors own 98.07% of the company’s stock.

Stoneridge Stock Down 1.7%

NYSE:SRI opened at $5.47 on Friday. The company’s 50-day simple moving average is $7.01 and its 200-day simple moving average is $6.89. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.35 and a current ratio of 2.14. Stoneridge, Inc. has a fifty-two week low of $3.54 and a fifty-two week high of $9.10. The stock has a market capitalization of $153.11 million, a P/E ratio of -5.06 and a beta of 1.57.

Stoneridge (NYSE:SRI) last posted its earnings results on Wednesday, November 5th. The auto parts company reported ($0.18) EPS for the quarter. The firm had revenue of $210.27 million for the quarter, compared to analysts’ expectations of $203.14 million. Stoneridge had a negative net margin of 3.39% and a negative return on equity of 9.24%. Stoneridge has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Stoneridge, Inc. will post -0.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Stoneridge in a research report on Wednesday. Barrington Research reissued an “outperform” rating and set a $16.00 price objective on shares of Stoneridge in a report on Monday, November 3rd. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price 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.