1832 Asset Management L.P. Has $3 Million Stock Position in Stellantis N.V. $STLA

Key Points

• 1832 Asset Management L.P. increased its stake in Stellantis N.V. by 13.3% during the first quarter, owning 267,758 shares valued at approximately $3 million at the end of the quarter.
• Other institutional investors, including Deutsche Bank AG and Jupiter Asset Management Ltd., also made significant investments in Stellantis, with hedge funds and institutional investors now owning 59.48% of the stock.
• Analysts have mixed views on Stellantis, with ratings ranging from a buy to underperform and a consensus price target of $12.74.

1832 Asset Management L.P. lifted its position in shares of Stellantis N.V. (NYSE:STLA - Free Report) by 13.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 267,758 shares of the company's stock after acquiring an additional 31,381 shares during the period. 1832 Asset Management L.P.'s holdings in Stellantis were worth $3,002,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Mpwm Advisory Solutions LLC acquired a new stake in shares of Stellantis during the fourth quarter worth $29,000. GAMMA Investing LLC raised its stake in Stellantis by 422.3% during the 1st quarter. GAMMA Investing LLC now owns 3,139 shares of the company's stock valued at $35,000 after purchasing an additional 2,538 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Stellantis by 54.5% in the first quarter. Farther Finance Advisors LLC now owns 3,309 shares of the company's stock valued at $37,000 after purchasing an additional 1,167 shares in the last quarter. Harbour Investments Inc. boosted its position in shares of Stellantis by 136.5% in the first quarter. Harbour Investments Inc. now owns 3,812 shares of the company's stock worth $43,000 after buying an additional 2,200 shares during the period. Finally, WealthCollab LLC grew its holdings in shares of Stellantis by 96.5% during the fourth quarter. WealthCollab LLC now owns 4,594 shares of the company's stock valued at $60,000 after buying an additional 2,256 shares in the last quarter. Institutional investors and hedge funds own 59.48% of the company's stock.

Stellantis Stock Performance

NYSE:STLA traded up $0.13 during midday trading on Thursday, reaching $9.65. The stock had a trading volume of 10,596,639 shares, compared to its average volume of 17,419,365. The stock has a market capitalization of $29.16 billion, a P/E ratio of 2.83, a PEG ratio of 0.58 and a beta of 1.45. Stellantis N.V. has a 1-year low of $8.39 and a 1-year high of $16.91. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.06 and a quick ratio of 0.77. The firm's fifty day simple moving average is $9.67 and its 200-day simple moving average is $10.52.

Analysts Set New Price Targets

Several brokerages recently commented on STLA. Bank of America cut Stellantis from a "buy" rating to a "neutral" rating and lowered their price target for the company from $16.50 to $11.75 in a research note on Monday, July 7th. Wolfe Research downgraded shares of Stellantis from a "peer perform" rating to an "underperform" rating in a report on Wednesday, July 2nd. Jefferies Financial Group upgraded shares of Stellantis from a "hold" rating to a "buy" rating and upped their price objective for the stock from $10.25 to $13.20 in a report on Wednesday, June 25th. Finally, Zacks Research downgraded shares of Stellantis from a "hold" rating to a "strong sell" rating in a research report on Monday. One equities research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average price target of $12.74.

Stellantis Company Profile

Stellantis N.V. engages in the design, engineering, manufacturing, distribution, and sale of automobiles and light commercial vehicles, engines, transmission systems, metallurgical products, mobility services, and production systems worldwide. It provides luxury and premium vehicles; sport utility vehicles; American and European brand vehicles; and parts and services, as well as retail and dealer financing, leasing, and rental services.