Stoneridge, Inc. (NYSE:SRI) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its stake in shares of Stoneridge, Inc. (NYSE:SRI) by 44.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 58,368 shares of the auto parts company’s stock after selling 45,853 shares during the period. Assenagon Asset Management S.A. owned about 0.21% of Stoneridge worth $366,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Royce & Associates LP raised its holdings in Stoneridge by 12.3% during the 3rd quarter. Royce & Associates LP now owns 1,357,043 shares of the auto parts company’s stock worth $15,185,000 after buying an additional 148,461 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Stoneridge in the third quarter worth approximately $797,000. Jane Street Group LLC raised its holdings in shares of Stoneridge by 218.3% during the third quarter. Jane Street Group LLC now owns 69,734 shares of the auto parts company’s stock valued at $780,000 after acquiring an additional 47,829 shares during the period. Walleye Capital LLC purchased a new stake in shares of Stoneridge in the 3rd quarter valued at approximately $483,000. Finally, JPMorgan Chase & Co. boosted its stake in Stoneridge by 296.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 56,696 shares of the auto parts company’s stock worth $634,000 after purchasing an additional 42,379 shares during the period. 98.07% of the stock is owned by hedge funds and other institutional investors.

Stoneridge Stock Performance

SRI stock opened at $5.51 on Friday. The firm has a 50 day simple moving average of $6.17 and a 200 day simple moving average of $10.11. Stoneridge, Inc. has a 52 week low of $5.23 and a 52 week high of $19.34. The stock has a market cap of $152.43 million, a P/E ratio of -20.39 and a beta of 1.35. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.40 and a current ratio of 2.44.

Stoneridge (NYSE:SRI) last released its earnings results on Wednesday, October 30th. The auto parts company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.32). Stoneridge had a negative return on equity of 0.42% and a negative net margin of 0.81%. The company had revenue of $213.80 million during the quarter, compared to analysts’ expectations of $229.60 million. During the same quarter in the previous year, the company earned $0.10 EPS. The firm’s quarterly revenue was down 10.2% compared to the same quarter last year. Research analysts anticipate that Stoneridge, Inc. will post -0.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on SRI shares. StockNews.com downgraded shares of Stoneridge from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Barrington Research reiterated an “outperform” rating and set a $16.00 price target on shares of Stoneridge in a 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.