Methode Electronics, Inc. (NYSE:MEI) CEO Jonathan B. Degaynor Purchases 32,733 Shares

Methode Electronics, Inc. (NYSE:MEI) CEO Jonathan B. Degaynor acquired 32,733 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were bought at an average price of $6.46 per share, for a total transaction of $211,455.18. Following the acquisition, the chief executive officer now owns 32,733 shares in the company, valued at approximately $211,455.18. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Methode Electronics Price Performance

NYSE:MEI opened at $6.30 on Thursday. The firm has a market cap of $224.46 million, a PE ratio of -2.49 and a beta of 0.77. Methode Electronics, Inc. has a 12 month low of $5.84 and a 12 month high of $17.45. The company has a quick ratio of 1.73, a current ratio of 2.75 and a debt-to-equity ratio of 0.46. The company’s 50-day moving average price is $10.78 and its two-hundred day moving average price is $10.82.

Methode Electronics (NYSE:MEI) last released its quarterly earnings results on Wednesday, March 5th. The electronics maker reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.04). The firm had revenue of $239.90 million during the quarter, compared to analyst estimates of $264.01 million. Methode Electronics had a negative net margin of 8.16% and a negative return on equity of 3.26%. During the same quarter last year, the firm earned ($0.33) earnings per share. On average, equities analysts anticipate that Methode Electronics, Inc. will post -0.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Methode Electronics

Large investors have recently modified their holdings of the stock. Quarry LP acquired a new position in shares of Methode Electronics during the fourth quarter worth approximately $32,000. Virtus Fund Advisers LLC bought a new stake in shares of Methode Electronics during the fourth quarter worth approximately $38,000. AlphaQuest LLC raised its stake in shares of 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 buying an additional 2,990 shares during the last quarter. PharVision Advisers LLC bought a new stake in shares of Methode Electronics during the fourth quarter worth approximately $120,000. Finally, Diversified Trust Co bought a new stake in shares of Methode Electronics during the fourth quarter worth approximately $126,000. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Methode Electronics Company Profile

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.