Stoneridge Investment Partners Cuts Stake in NIKE Amidst Mixed Market Trends

A recent SEC filing revealed that Stoneridge Investment Partners LLC reduced its stake in NIKE (NKE) by 32.5% during the second quarter, selling 25,607 shares and decreasing its total holdings to 53,227 shares.

The sale represents a significant change for the investment firm, which now owns just under 1.4% of Nike's stock, making it the company's 13th largest holding. The value of Stoneridge's NIKE holdings was $2,220,000 as of its most recent filing with the SEC.

This news comes on the heels of several other hedge funds and institutional investors modifying their NKE holdings in the past quarter. Cornerstone Financial Management LLC purchased a new position in NIKE during the fourth quarter valued at approximately $26,000, while Sankala Group LLC also acquired a new stake in the company in the same period.

Nike's stock has been experiencing mixed trends of late, with some analysts expressing concerns about the company's core weakness despite its recent Q4 earnings beat. As such, it is worth keeping an eye on future developments and how they may impact NKE's performance going forward.