ArrowMark Colorado Holdings LLC Cuts Stock Position in Stoneridge, Inc. (NYSE:SRI)

ArrowMark Colorado Holdings LLC cut its position in shares of Stoneridge, Inc. (NYSE:SRI) by 1.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,477,885 shares of the auto parts company’s stock after selling 14,394 shares during the quarter. ArrowMark Colorado Holdings LLC owned approximately 5.34% of Stoneridge worth $16,538,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. US Bancorp DE bought a new position in shares of Stoneridge during the 3rd quarter valued at $46,000. nVerses Capital LLC purchased a new position in Stoneridge in the 3rd quarter worth approximately $59,000. Olympiad Research LP bought a new stake in Stoneridge in the third quarter valued at approximately $121,000. XTX Topco Ltd purchased a new stake in shares of Stoneridge during the second quarter valued at approximately $176,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Stoneridge by 12.1% in the second quarter. The Manufacturers Life Insurance Company now owns 11,336 shares of the auto parts company’s stock worth $181,000 after purchasing an additional 1,226 shares during the last quarter. Institutional investors own 98.07% of the company’s stock.

Stoneridge Price Performance

SRI stock opened at $6.86 on Monday. The firm has a 50-day moving average of $8.67 and a 200 day moving average of $12.80. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.44 and a quick ratio of 1.40. The company has a market cap of $189.95 million, a P/E ratio of -25.41 and a beta of 1.36. Stoneridge, Inc. has a 1 year low of $5.89 and a 1 year high of $19.91.

Stoneridge (NYSE:SRI) last posted its quarterly earnings data on Wednesday, October 30th. The auto parts company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.32). Stoneridge had a negative return on equity of 0.42% and a negative net margin of 0.81%. The firm had revenue of $213.80 million during the quarter, compared to the consensus estimate of $229.60 million. During the same quarter last year, the company posted $0.10 EPS. Stoneridge’s revenue for the quarter was down 10.2% compared to the same quarter last year. On average, sell-side analysts forecast that Stoneridge, Inc. will post -0.38 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SRI. Barrington Research reissued an “outperform” rating and set a $16.00 price target on shares of Stoneridge in a research report on Thursday, October 31st. StockNews.com cut Stoneridge from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th.

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.