Cubist Systematic Strategies LLC Invests $214,000 in Stoneridge, Inc. (SRI)

Cubist Systematic Strategies LLC purchased a new stake in Stoneridge, Inc. (NYSE:SRI) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 7,757 shares of the auto parts company’s stock, valued at approximately $214,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Stoneridge by 2.7% in the fourth quarter. BlackRock Inc. now owns 2,033,351 shares of the auto parts company’s stock valued at $46,481,000 after buying an additional 54,287 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Stoneridge by 4.1% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 123,070 shares of the auto parts company’s stock valued at $2,814,000 after buying an additional 4,901 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Stoneridge by 5.2% in the fourth quarter. Renaissance Technologies LLC now owns 797,800 shares of the auto parts company’s stock valued at $18,238,000 after buying an additional 39,700 shares in the last quarter. Deutsche Bank AG raised its position in shares of Stoneridge by 184.8% in the fourth quarter. Deutsche Bank AG now owns 83,414 shares of the auto parts company’s stock valued at $1,904,000 after buying an additional 54,126 shares in the last quarter. Finally, Stone Ridge Asset Management LLC acquired a new stake in shares of Stoneridge in the fourth quarter valued at approximately $713,000. Institutional investors own 86.83% of the company’s stock.

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Several brokerages have commented on SRI. Buckingham Research began coverage on shares of Stoneridge in a research report on Wednesday, June 20th. They set a “buy” rating and a $37.00 price objective for the company. Barrington Research set a $35.00 price objective on shares of Stoneridge and gave the company a “buy” rating in a research report on Friday, June 1st. CL King began coverage on shares of Stoneridge in a research report on Monday, April 23rd. They set a “buy” rating and a $34.00 price objective for the company. ValuEngine downgraded shares of Stoneridge from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 2nd. Finally, Stephens upgraded shares of Stoneridge from an “equal” rating to a “weight” rating in a research report on Tuesday, March 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $31.40.

In other Stoneridge news, CAO Robert J. Jr. Hartman sold 6,393 shares of the business’s stock in a transaction on Tuesday, May 8th. The shares were sold at an average price of $27.86, for a total transaction of $178,108.98. Following the sale, the chief accounting officer now owns 37,281 shares of the company’s stock, valued at $1,038,648.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jonathan B. Degaynor sold 30,000 shares of the business’s stock in a transaction on Wednesday, May 16th. The stock was sold at an average price of $29.90, for a total transaction of $897,000.00. Following the sale, the insider now directly owns 79,122 shares in the company, valued at approximately $2,365,747.80. The disclosure for this sale can be found here. Insiders own 4.40% of the company’s stock.

Shares of Stoneridge opened at $34.42 on Thursday, according to Marketbeat. Stoneridge, Inc. has a one year low of $15.05 and a one year high of $37.69. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 21.92, a PEG ratio of 2.00 and a beta of 1.04. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.19 and a quick ratio of 1.65.

Stoneridge (NYSE:SRI) last announced its quarterly earnings data on Wednesday, May 2nd. The auto parts company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. Stoneridge had a net margin of 5.89% and a return on equity of 20.81%. The business had revenue of $225.90 million during the quarter, compared to the consensus estimate of $213.94 million. During the same period in the previous year, the business earned $0.38 earnings per share. The company’s revenue was up 10.6% on a year-over-year basis. sell-side analysts anticipate that Stoneridge, Inc. will post 2.11 earnings per share for the current fiscal year.

About Stoneridge

Stoneridge, Inc designs and manufactures engineered electrical and electronic components, modules, and systems for the automotive, commercial, motorcycle, off-highway, and agricultural vehicle markets. It operates through three segments: Control Devices, Electronics, and PST. The Control Devices segment provides sensors, switches, valves, and actuators that monitor, measure, or activate specific functions within a vehicle.

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