Jonathan B. Degaynor Buys 32,733 Shares of Methode Electronics, Inc. (NYSE:MEI) Stock

Methode Electronics, Inc. (NYSE:MEI) CEO Jonathan B. Degaynor purchased 32,733 shares of Methode Electronics stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average price of $6.46 per share, with a total value of $211,455.18. Following the completion of the acquisition, the chief executive officer now owns 32,733 shares in the company, valued at $211,455.18. The trade was a ? increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Methode Electronics Stock Up 5.1 %

Shares of MEI stock opened at $6.45 on Friday. The stock’s 50 day simple moving average is $10.55 and its 200 day simple moving average is $10.76. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.73 and a current ratio of 2.75. Methode Electronics, Inc. has a twelve month low of $5.84 and a twelve month high of $17.45. The company has a market capitalization of $230.09 million, a price-to-earnings ratio of -2.55 and a beta of 0.77.

Methode Electronics (NYSE:MEI) last issued its quarterly earnings results on Wednesday, March 5th. The electronics maker reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.04). Methode Electronics had a negative return on equity of 3.26% and a negative net margin of 8.16%. The business had revenue of $239.90 million for the quarter, compared to analyst estimates of $264.01 million. During the same quarter last year, the firm earned ($0.33) earnings per share. As a group, research analysts predict that Methode Electronics, Inc. will post -0.4 EPS for the current year.

Wall Street Analyst Weigh In

MEI has been the subject of several research reports. Robert W. Baird reduced their price target on Methode Electronics from $14.00 to $9.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Sidoti raised Methode Electronics from a “neutral” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Tuesday, February 25th.

Institutional Investors Weigh In On Methode Electronics

Hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Methode Electronics by 8.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,139 shares of the electronics maker’s stock valued at $237,000 after purchasing an additional 1,513 shares during the period. Quarry LP bought a new stake in shares of Methode Electronics during the fourth quarter valued at approximately $32,000. Aviance Capital Partners LLC increased its position in shares of Methode Electronics by 5.2% during the fourth quarter. Aviance Capital Partners LLC now owns 56,594 shares of the electronics maker’s stock valued at $667,000 after purchasing an additional 2,781 shares during the period. AlphaQuest LLC raised its position in Methode Electronics by 196.8% in the fourth quarter. AlphaQuest LLC now owns 4,509 shares of the electronics maker’s stock worth $53,000 after purchasing an additional 2,990 shares in the last quarter. Finally, Virtus Fund Advisers LLC bought a new position in Methode Electronics during the fourth quarter worth about $38,000. Institutional investors own 95.49% of the company’s stock.

Methode Electronics Company Profile

Methode Electronics, Inc designs, engineers, and produces mechatronic products worldwide. It operates through four segments: Automotive, Industrial, Interface, and Medical. The Automotive segment supplies electronic and electro-mechanical devices, and related products to automobile original equipment manufacturers directly or through their tiered suppliers.