Russell Investments Group Ltd. Cuts Stake in Stoneridge, Inc. (NYSE:SRI)

Russell Investments Group Ltd. decreased its position in shares of Stoneridge, Inc. (NYSE:SRI - Free Report) by 22.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 259,886 shares of the auto parts company's stock after selling 75,791 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.94% of Stoneridge worth $1,629,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of SRI. Raymond James Financial Inc. purchased a new stake in shares of Stoneridge in the fourth quarter worth about $2,180,000. JPMorgan Chase & Co. grew its position in Stoneridge by 380.6% during the fourth quarter. JPMorgan Chase & Co. now owns 272,460 shares of the auto parts company's stock worth $1,708,000 after buying an additional 215,764 shares in the last quarter. Trexquant Investment LP raised its holdings in shares of Stoneridge by 383.4% in the 4th quarter. Trexquant Investment LP now owns 224,193 shares of the auto parts company's stock valued at $1,406,000 after acquiring an additional 177,814 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Stoneridge during the fourth quarter worth about $414,000. Finally, Jane Street Group LLC raised its stake in Stoneridge by 218.3% in the third quarter. Jane Street Group LLC now owns 69,734 shares of the auto parts company's stock valued at $780,000 after purchasing an additional 47,829 shares in the last quarter. Institutional investors own 98.07% of the company's stock.

Stoneridge Stock Performance

SRI stock traded up $0.09 during trading on Thursday, reaching $3.91. The stock had a trading volume of 13,742 shares, compared to its average volume of 264,415. The stock's 50 day moving average is $4.58 and its two-hundred day moving average is $5.98. The firm has a market cap of $108.87 million, a PE ratio of -14.48 and a beta of 1.26. Stoneridge, Inc. has a 52 week low of $3.54 and a 52 week high of $18.40. The company has a current ratio of 2.44, a quick ratio of 1.40 and a debt-to-equity ratio of 0.72.

Stoneridge (NYSE:SRI - Get Free Report) last announced its earnings results on Wednesday, February 26th. The auto parts company reported ($0.18) EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.36). Stoneridge had a negative net margin of 0.81% and a negative return on equity of 0.42%. The business had revenue of $218.20 million for the quarter, compared to analysts' expectations of $207.61 million. As a group, equities analysts anticipate that Stoneridge, Inc. will post -0.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SRI has been the subject of several research analyst reports. StockNews.com raised Stoneridge from a "hold" rating to a "buy" rating in a research note on Saturday, March 29th. Barrington Research restated an "outperform" rating and issued a $16.00 price target on shares of Stoneridge in a research note on Tuesday, March 4th.

About Stoneridge

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.