Systematic Financial Management LP Sells 32,530 Shares of Stoneridge, Inc. (NYSE:SRI)

Systematic Financial Management LP lessened its stake in Stoneridge, Inc. (NYSE:SRI) by 16.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 170,355 shares of the auto parts company’s stock after selling 32,530 shares during the period. Systematic Financial Management LP owned about 0.62% of Stoneridge worth $1,906,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Quarry LP acquired a new position in shares of Stoneridge in the third quarter worth approximately $44,000. US Bancorp DE bought a new stake in shares of Stoneridge in the 3rd quarter valued at $46,000. nVerses Capital LLC acquired a new stake in shares of Stoneridge during the third quarter worth $59,000. Olympiad Research LP bought a new position in Stoneridge during the third quarter worth $121,000. Finally, Paloma Partners Management Co acquired a new position in Stoneridge in the third quarter valued at $139,000. Institutional investors own 98.07% of the company’s stock.

Stoneridge Trading Down 4.5 %

SRI opened at $6.43 on Friday. The company has a fifty day moving average price of $8.29 and a two-hundred day moving average price of $12.58. Stoneridge, Inc. has a 1-year low of $5.89 and a 1-year high of $19.91. The company has a market cap of $178.05 million, a P/E ratio of -23.81 and a beta of 1.34. The company has a current ratio of 2.44, a quick ratio of 1.40 and a debt-to-equity ratio of 0.72.

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

Analysts Set New Price Targets

SRI has been the subject of a number of recent analyst reports. Barrington Research reiterated an “outperform” rating and set a $16.00 price target on shares of Stoneridge in a report on Thursday, October 31st. StockNews.com lowered Stoneridge from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th.

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.