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

ArrowMark Colorado Holdings LLC cut its position in Stoneridge, Inc. (NYSE:SRI) by 1.0% in the 3rd quarter, Holdings Channel reports. The institutional investor 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 0.05% of Stoneridge worth $16,538,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SRI. US Bancorp DE purchased a new position in Stoneridge in the 3rd quarter worth approximately $46,000. nVerses Capital LLC purchased a new position in shares of Stoneridge in the third quarter worth $59,000. Olympiad Research LP purchased a new stake in shares of Stoneridge during the third quarter valued at $121,000. Paloma Partners Management Co purchased a new position in Stoneridge in the 3rd quarter worth about $139,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Stoneridge during the 3rd quarter valued at about $161,000. Institutional investors own 98.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. StockNews.com lowered shares of Stoneridge from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Barrington Research reissued an “outperform” rating and issued a $16.00 target price on shares of Stoneridge in a report on Thursday, October 31st.

Stoneridge Stock Performance

Shares of Stoneridge stock opened at $6.86 on Monday. Stoneridge, Inc. has a 1-year low of $5.89 and a 1-year high of $19.91. The company’s fifty day simple moving average is $8.67 and its 200-day simple moving average is $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 stock has a market capitalization of $189.95 million, a PE ratio of -25.41 and a beta of 1.36.

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

Stoneridge 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.