Insider Buying: Methode Electronics, Inc. (NYSE:MEI) SVP Purchases 15,150 Shares of Stock

Methode Electronics, Inc. (NYSE:MEI) SVP Lars Ullrich purchased 15,150 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was acquired at an average price of $6.69 per share, with a total value of $101,353.50. Following the completion of the transaction, the senior vice president now owns 15,150 shares in the company, valued at approximately $101,353.50. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Methode Electronics Trading Up 7.0 %

NYSE:MEI opened at $6.85 on Thursday. The firm’s fifty day moving average is $10.25 and its 200-day moving average is $10.69. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.73 and a current ratio of 2.75. Methode Electronics, Inc. has a 52 week low of $5.84 and a 52 week high of $17.45. The firm has a market cap of $244.48 million, a P/E ratio of -2.71 and a beta of 0.77.

Methode Electronics (NYSE:MEI) last issued its earnings results on Wednesday, March 5th. The electronics maker reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.04). The company had revenue of $239.90 million for the quarter, compared to the consensus estimate of $264.01 million. Methode Electronics had a negative return on equity of 3.26% and a negative net margin of 8.16%. During the same period in the prior year, the company earned ($0.33) earnings per share. Equities analysts expect that Methode Electronics, Inc. will post -0.4 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP bought a new position in Methode Electronics during the fourth quarter worth $32,000. Virtus Fund Advisers LLC bought a new position in Methode Electronics during the fourth quarter worth $38,000. AlphaQuest LLC boosted its stake in Methode Electronics by 196.8% during the fourth quarter. AlphaQuest LLC now owns 4,509 shares of the electronics maker’s stock worth $53,000 after acquiring an additional 2,990 shares in the last quarter. PharVision Advisers LLC bought a new position in Methode Electronics during the fourth quarter worth $120,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Methode Electronics during the fourth quarter worth $125,000. 95.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on MEI shares. Robert W. Baird decreased their price target on shares of Methode Electronics from $14.00 to $9.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Sidoti raised shares of Methode Electronics from a “neutral” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Tuesday, February 25th.

About Methode Electronics

Methode Electronics, Inc designs, engineers, and produces mechatronic products worldwide. It operates through four segments: Automotive, Industrial, Interface, and Medical. The Automotive segment supplies electronic and electro-mechanical devices, and related products to automobile original equipment manufacturers directly or through their tiered suppliers.