Deerfield Management Company L.P. Series C Invests $472,000 in Stoneridge, Inc. (NYSE:SRI)

Deerfield Management Company L.P. Series C purchased a new stake in Stoneridge, Inc. (NYSE:SRI) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 29,592 shares of the auto parts company’s stock, valued at approximately $472,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. XTX Topco Ltd acquired a new stake in Stoneridge in the second quarter valued at approximately $176,000. State Board of Administration of Florida Retirement System bought a new position in shares of Stoneridge during the 1st quarter valued at $238,000. BNP Paribas Financial Markets raised its holdings in shares of Stoneridge by 28.0% during the 1st quarter. BNP Paribas Financial Markets now owns 13,068 shares of the auto parts company’s stock valued at $241,000 after purchasing an additional 2,861 shares in the last quarter. AQR Capital Management LLC acquired a new stake in shares of Stoneridge in the 2nd quarter valued at $252,000. Finally, Squarepoint Ops LLC bought a new stake in Stoneridge in the second quarter worth $330,000. Institutional investors and hedge funds own 98.07% of the company’s stock.

Wall Street Analyst Weigh In

SRI has been the topic of several recent research reports. Stephens started coverage on Stoneridge in a report on Monday, July 8th. They set an “overweight” rating on the stock. StockNews.com raised Stoneridge from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th.

Stoneridge Trading Down 0.4 %

NYSE:SRI opened at $11.37 on Friday. The company’s 50 day moving average is $14.03 and its 200-day moving average is $15.41. The company has a quick ratio of 1.31, a current ratio of 2.27 and a debt-to-equity ratio of 0.69. Stoneridge, Inc. has a 12 month low of $10.99 and a 12 month high of $20.26. The firm has a market cap of $314.72 million, a price-to-earnings ratio of -81.21 and a beta of 1.32.

Stoneridge (NYSE:SRI) last announced its earnings results on Wednesday, July 31st. The auto parts company reported $0.17 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.19. Stoneridge had a net margin of 0.19% and a return on equity of 3.03%. The firm had revenue of $237.10 million for the quarter, compared to the consensus estimate of $242.90 million. During the same quarter last year, the firm posted ($0.05) EPS. The business’s quarterly revenue was down 11.1% on a year-over-year basis. Equities analysts anticipate that Stoneridge, Inc. will post 0.13 EPS for the current year.

Stoneridge Company 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.