Royce & Associates LP Sells 75,420 Shares of Stoneridge, Inc. (NYSE:SRI)

Royce & Associates LP lessened its stake in Stoneridge, Inc. (NYSE:SRI) by 5.6% in the fourth quarter, HoldingsChannel reports. The firm owned 1,281,623 shares of the auto parts company’s stock after selling 75,420 shares during the period. Royce & Associates LP’s holdings in Stoneridge were worth $8,036,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Quarry LP purchased a new position in shares of Stoneridge in the 3rd quarter worth $44,000. US Bancorp DE lifted its holdings in Stoneridge by 65.2% in the fourth quarter. US Bancorp DE now owns 6,791 shares of the auto parts company’s stock valued at $43,000 after acquiring an additional 2,679 shares during the period. SG Americas Securities LLC purchased a new position in Stoneridge in the fourth quarter worth about $74,000. Paloma Partners Management Co bought a new stake in shares of Stoneridge during the 3rd quarter valued at about $139,000. Finally, Virtu Financial LLC purchased a new stake in shares of Stoneridge during the 3rd quarter valued at about $146,000. 98.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SRI shares. Barrington Research reissued an “outperform” rating and issued a $16.00 price objective on shares of Stoneridge in a report on Tuesday, March 4th. StockNews.com downgraded shares of Stoneridge from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th.

Stoneridge Stock Down 3.2 %

SRI stock opened at $4.99 on Wednesday. The business’s 50-day moving average price is $5.04 and its 200-day moving average price is $7.36. The stock has a market cap of $138.09 million, a P/E ratio of -18.47 and a beta of 1.27. The company has a quick ratio of 1.40, a current ratio of 2.44 and a debt-to-equity ratio of 0.72. Stoneridge, Inc. has a twelve month low of $4.11 and a twelve month high of $18.57.

Stoneridge (NYSE:SRI) last posted its quarterly earnings results on Wednesday, February 26th. The auto parts company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.36). The firm had revenue of $218.20 million during the quarter, compared to the consensus estimate of $207.61 million. Stoneridge had a negative return on equity of 0.42% and a negative net margin of 0.81%. On average, equities research analysts forecast that Stoneridge, Inc. will post -0.42 EPS for the current year.

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.