Squarepoint Ops LLC Purchases New Holdings in Stoneridge, Inc. (NYSE:SRI)

Squarepoint Ops LLC purchased a new stake in shares of Stoneridge, Inc. (NYSE:SRI) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 20,665 shares of the auto parts company’s stock, valued at approximately $330,000. Squarepoint Ops LLC owned about 0.07% of Stoneridge at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in SRI. XTX Topco Ltd purchased a new stake in Stoneridge in the 2nd quarter valued at about $176,000. Hsbc Holdings PLC boosted its position in Stoneridge by 51.4% in the 2nd quarter. Hsbc Holdings PLC now owns 23,575 shares of the auto parts company’s stock valued at $372,000 after buying an additional 8,007 shares during the period. American Century Companies Inc. boosted its position in Stoneridge by 17.3% in the 2nd quarter. American Century Companies Inc. now owns 160,184 shares of the auto parts company’s stock valued at $2,557,000 after buying an additional 23,569 shares during the period. Cowen AND Company LLC purchased a new stake in Stoneridge in the 2nd quarter valued at about $2,234,000. Finally, Rhumbline Advisers boosted its position in Stoneridge by 7.6% in the 2nd quarter. Rhumbline Advisers now owns 47,251 shares of the auto parts company’s stock valued at $754,000 after buying an additional 3,353 shares during the period. 98.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SRI has been the subject of several research reports. StockNews.com raised shares of Stoneridge from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. Stephens initiated coverage on shares of Stoneridge in a research report on Monday, July 8th. They issued an “overweight” rating for the company.

Stoneridge Trading Up 2.4 %

NYSE:SRI opened at $10.06 on Friday. The stock has a market capitalization of $278.37 million, a price-to-earnings ratio of -71.86 and a beta of 1.31. Stoneridge, Inc. has a 52 week low of $9.48 and a 52 week high of $19.91. The company has a quick ratio of 1.31, a current ratio of 2.27 and a debt-to-equity ratio of 0.69. The firm has a 50 day moving average of $12.74 and a 200 day moving average of $14.94.

Stoneridge (NYSE:SRI) last announced its earnings results on Wednesday, July 31st. The auto parts company reported $0.17 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.19. The company had revenue of $237.10 million during the quarter, compared to the consensus estimate of $242.90 million. Stoneridge had a net margin of 0.19% and a return on equity of 3.03%. Stoneridge’s revenue was down 11.1% compared to the same quarter last year. During the same period last year, the firm earned ($0.05) earnings per share. As a group, sell-side analysts anticipate that Stoneridge, Inc. will post 0.13 earnings per share for the current fiscal 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.