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

Assenagon Asset Management S.A. increased its stake in Stoneridge, Inc. (NYSE:SRI) by 340.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 256,791 shares of the auto parts company’s stock after acquiring an additional 198,423 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.92% of Stoneridge worth $1,487,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Strs Ohio purchased a new stake in Stoneridge during the 1st quarter worth approximately $39,000. Tower Research Capital LLC TRC grew its stake in Stoneridge by 211.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 13,485 shares of the auto parts company’s stock valued at $95,000 after acquiring an additional 9,149 shares in the last quarter. Cerity Partners LLC acquired a new stake in Stoneridge in the 2nd quarter valued at about $101,000. Public Employees Retirement System of Ohio acquired a new stake in Stoneridge in the 3rd quarter valued at about $110,000. Finally, PharVision Advisers LLC purchased a new position in Stoneridge in the 2nd quarter worth approximately $113,000. 98.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SRI. Barrington Research downgraded shares of Stoneridge from an “outperform” rating to a “market perform” rating in a research note on Monday, March 16th. Zacks Research upgraded shares of Stoneridge to a “hold” rating in a report on Wednesday, March 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Stoneridge in a report on Friday. Finally, Wall Street Zen lowered Stoneridge from a “buy” rating to a “hold” rating in a research report on Sunday, March 22nd. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $16.00.

Stoneridge Stock Performance

Shares of SRI opened at $4.84 on Wednesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.45 and a current ratio of 2.30. Stoneridge, Inc. has a 1 year low of $3.54 and a 1 year high of $9.71. The stock has a market capitalization of $135.66 million, a PE ratio of -1.31 and a beta of 1.45. The stock has a 50-day simple moving average of $7.10 and a 200-day simple moving average of $6.69.

Stoneridge (NYSE:SRI) last announced its quarterly earnings data on Thursday, March 12th. The auto parts company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.55). The firm had revenue of $205.15 million during the quarter, compared to analyst estimates of $211.70 million. Stoneridge had a negative net margin of 11.94% and a negative return on equity of 13.49%. On average, analysts predict that Stoneridge, Inc. will post -0.42 earnings per share for the current fiscal year.

Stoneridge Profile

Stoneridge, Inc (NYSE: SRI) is a global developer and manufacturer of highly engineered electrical and electronic components for the automotive and commercial vehicle markets. The company’s product offerings span a range of safety, convenience and control systems, delivering tailored solutions that help original equipment manufacturers (OEMs) meet increasingly stringent regulatory and performance requirements.

Among Stoneridge’s core products are rearview and side-view mirror systems, camera-based advanced driver assistance systems (ADAS) and interior and exterior lighting solutions.