Insider Buying: Stoneridge, Inc. (NYSE:SRI) CEO Purchases 6,500 Shares of Stock

Stoneridge, Inc. (NYSE:SRI) CEO James Zizelman bought 6,500 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were acquired at an average price of $15.72 per share, with a total value of $102,180.00. Following the purchase, the chief executive officer now directly owns 6,500 shares of the company’s stock, valued at approximately $102,180. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Stoneridge Stock Performance

NYSE:SRI opened at $15.78 on Thursday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.39 and a quick ratio of 1.40. The firm has a market cap of $436.65 million, a price-to-earnings ratio of -112.71 and a beta of 1.41. The firm’s fifty day moving average price is $16.55 and its 200 day moving average price is $17.25. Stoneridge, Inc. has a 1-year low of $14.18 and a 1-year high of $24.51.

Stoneridge (NYSE:SRI) last posted its quarterly earnings results on Wednesday, May 1st. The auto parts company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.05). The firm had revenue of $239.20 million for the quarter, compared to analysts’ expectations of $223.20 million. Stoneridge had a positive return on equity of 0.84% and a negative net margin of 0.41%. The company’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the prior year, the company earned ($0.25) earnings per share. On average, sell-side analysts expect that Stoneridge, Inc. will post 0.3 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Stoneridge from a “buy” rating to a “hold” rating in a research note on Friday, March 1st.

Institutional Trading of Stoneridge

Institutional investors have recently modified their holdings of the business. AJOVista LLC purchased a new position in Stoneridge in the fourth quarter worth $42,000. Gladius Capital Management LP purchased a new stake in shares of Stoneridge during the 4th quarter worth $76,000. New York State Common Retirement Fund grew its stake in shares of Stoneridge by 34.7% during the 3rd quarter. New York State Common Retirement Fund now owns 10,254 shares of the auto parts company’s stock worth $206,000 after purchasing an additional 2,644 shares during the period. Hsbc Holdings PLC purchased a new position in shares of Stoneridge in the 3rd quarter valued at about $227,000. Finally, State Board of Administration of Florida Retirement System acquired a new stake in shares of Stoneridge in the first quarter valued at about $238,000. 98.07% of the stock is currently owned by hedge funds and other institutional investors.

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.