Is Stoneridge, Inc. (NYSE:SRI) Worthy of Your Portfolio?

With a general bullishness amongst the heavyweights, some big names have been driving this bullishness. Arrowstreet Capital, led by Peter Rathjens, Bruce Clarke and John Campbell, created the most valuable position in Stoneridge, Inc. (NYSE:SRI). Arrowstreet Capital had $2.1 million invested in the company at the end of the quarter. Paul Marshall and Ian Wace’s Marshall Wace LLP also initiated a $0.6 million position during the quarter. The only other fund with a brand new SRI position is Neil Chriss’ Hutchin Hill Capital.

Let’s check out hedge fund activity in other stocks similar to Stoneridge, Inc. (NYSE:SRI). We will take a look at Actua Corp (NASDAQ:ACTA), SciClone Pharmaceuticals, Inc. (NASDAQ:SCLN), XO Group Inc (NYSE:XOXO), and General Communication, Inc. (NASDAQ:GNCMA). This group of stocks’ market caps are similar to SRI’s market cap.

As you can see these stocks had an average of 13 funds with bullish positions and the average amount invested in these stocks was $57 million. That figure was $100 million in SRI’s case. SciClone Pharmaceuticals, Inc. (NASDAQ:SCLN) is the most popular stock in this table. On the other hand General Communication, Inc. (NASDAQ:GNCMA) is the least popular one with only seven funds holding shares. Compared to these stocks Stoneridge, Inc. (NYSE:SRI) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: none