Hsbc Holdings PLC Takes Position in Stoneridge, Inc. $SRI

Hsbc Holdings PLC purchased a new position in Stoneridge, Inc. (NYSE:SRI) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 91,841 shares of the auto parts company’s stock, valued at approximately $672,000.

Other large investors have also recently made changes to their positions in the company. Canada Pension Plan Investment Board purchased a new position in Stoneridge in the 2nd quarter valued at $120,000. Algert Global LLC grew its holdings in Stoneridge by 54.2% in the 2nd quarter. Algert Global LLC now owns 39,899 shares of the auto parts company’s stock valued at $292,000 after buying an additional 14,019 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Stoneridge in the 2nd quarter worth $309,000. Globeflex Capital L P purchased a new position in shares of Stoneridge during the 2nd quarter worth $1,196,000. Finally, BlackRock Inc. acquired a new position in shares of Stoneridge during the 2nd quarter valued at about $18,734,000. 98.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director William M. Lasky acquired 5,000 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were purchased at an average cost of $7.46 per share, for a total transaction of $37,300.00. Following the acquisition, the director owned 192,666 shares in the company, valued at $1,437,288.36. The trade was a 2.66% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Scott Randall Humphrey acquired 6,000 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were bought at an average cost of $7.01 per share, with a total value of $42,060.00. Following the transaction, the chief financial officer directly owned 6,000 shares in the company, valued at $42,060. This trade represents a ? increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have purchased 16,000 shares of company stock valued at $115,910. Company insiders own 11.00% of the company’s stock.

Stoneridge Stock Up 1.9%

Shares of NYSE:SRI opened at $7.24 on Thursday. The business has a 50-day moving average price of $7.18 and a 200 day moving average price of $6.97. The company has a current ratio of 1.89, a quick ratio of 1.27 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $206.34 million, a price-to-earnings ratio of -1.70 and a beta of 1.88. Stoneridge, Inc. has a 12-month low of $4.60 and a 12-month high of $9.71.

Stoneridge (NYSE:SRI) last issued its quarterly earnings data on Wednesday, August 5th. The auto parts company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.26). Stoneridge had a negative net margin of 15.64% and a negative return on equity of 24.91%. The company had revenue of $181.38 million during the quarter, compared to analysts’ expectations of $161.85 million. Sell-side analysts expect that Stoneridge, Inc. will post -0.82 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SRI. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Stoneridge in a research note on Wednesday, June 24th. Zacks Research raised shares of Stoneridge from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 21st. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Stoneridge presently has an average rating of “Reduce” and an average price target of $16.00.

Stoneridge Company Profile

Stoneridge, Inc (NYSE: SRI) is a global developer and manufacturer of highly engineered electrical and electronic components for the automotive and commercial vehicle markets. The company’s product offerings span a range of safety, convenience and control systems, delivering tailored solutions that help original equipment manufacturers (OEMs) meet increasingly stringent regulatory and performance requirements.

Among Stoneridge’s core products are rearview and side-view mirror systems, camera-based advanced driver assistance systems (ADAS) and interior and exterior lighting solutions.