Jane Street Group LLC Grows Position in Stoneridge, Inc. (NYSE:SRI)

Jane Street Group LLC raised its stake in Stoneridge, Inc. (NYSE:SRI) by 218.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 69,734 shares of the auto parts company’s stock after acquiring an additional 47,829 shares during the quarter. Jane Street Group LLC owned approximately 0.25% of Stoneridge worth $780,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in SRI. Quarry LP acquired a new position in Stoneridge in the 3rd quarter valued at about $44,000. US Bancorp DE purchased a new stake in shares of Stoneridge during the third quarter worth about $46,000. nVerses Capital LLC acquired a new position in shares of Stoneridge in the third quarter valued at approximately $59,000. Olympiad Research LP acquired a new position in shares of Stoneridge in the third quarter valued at approximately $121,000. Finally, XTX Topco Ltd purchased a new position in shares of Stoneridge during the second quarter valued at approximately $176,000. 98.07% of the stock is currently owned by hedge funds and other institutional investors.

Stoneridge Price Performance

SRI opened at $5.86 on Friday. Stoneridge, Inc. has a 1 year low of $5.52 and a 1 year high of $19.34. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.40 and a current ratio of 2.44. The company’s 50 day simple moving average is $6.81 and its 200 day simple moving average is $11.23. The stock has a market capitalization of $162.25 million, a PE ratio of -21.70 and a beta of 1.34.

Stoneridge (NYSE:SRI) last announced its quarterly earnings data on Wednesday, October 30th. The auto parts company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.32). Stoneridge had a negative net margin of 0.81% and a negative return on equity of 0.42%. The company had revenue of $213.80 million for the quarter, compared to analysts’ expectations of $229.60 million. During the same period in the prior year, the firm earned $0.10 earnings per share. The firm’s quarterly revenue was down 10.2% on a year-over-year basis. As a group, sell-side analysts expect that Stoneridge, Inc. will post -0.42 EPS for the current year.

Analyst Ratings Changes

SRI has been the subject of several recent analyst reports. StockNews.com cut shares of Stoneridge from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Barrington Research reaffirmed an “outperform” rating and issued a $16.00 price objective on shares of Stoneridge in a research report on Thursday, October 31st.

Stoneridge Company 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.