StockNews.com upgraded shares of Superior Industries International (NYSE:SUP – Free Report) from a hold rating to a buy rating in a research note released on Saturday morning.
Superior Industries International Trading Up 3.5 %
Shares of NYSE:SUP opened at $2.22 on Friday. Superior Industries International has a 12 month low of $1.50 and a 12 month high of $4.57. The stock has a market cap of $64.02 million, a P/E ratio of -0.56 and a beta of 3.47. The company has a 50 day moving average of $1.99 and a 200 day moving average of $2.41.
Hedge Funds Weigh In On Superior Industries International
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SUP. Nierenberg Investment Management Company Inc. boosted its position in shares of Superior Industries International by 15.5% during the 4th quarter. Nierenberg Investment Management Company Inc. now owns 128,793 shares of the auto parts company’s stock valued at $263,000 after acquiring an additional 17,238 shares during the last quarter. Rangeley Capital LLC purchased a new stake in Superior Industries International in the fourth quarter valued at approximately $204,000. Proficio Capital Partners LLC bought a new stake in Superior Industries International during the fourth quarter valued at approximately $153,000. Sandia Investment Management LP purchased a new position in Superior Industries International in the 4th quarter worth approximately $153,000. Finally, Jane Street Group LLC bought a new position in shares of Superior Industries International in the 4th quarter worth $88,000. 56.20% of the stock is currently owned by hedge funds and other institutional investors.
About Superior Industries International
Superior Industries International, Inc, together with its subsidiaries, designs, manufactures, and sells aluminum wheels to the original equipment manufacturers and aftermarket distributors in North America and Europe. It offers its products under the ATS, RIAL, ALUTEC, and ANZIO brand names. The company was founded in 1957 and is headquartered in Southfield, Michigan.
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