Alliancebernstein L.P. Trims Position in Stellantis N.V. $STLA

Key Points

• Alliancebernstein L.P. has reduced its stake in Stellantis N.V. by 27.0%, selling 757,503 shares and now owning approximately 2,053,022 shares valued at $23 million.
• Multiple hedge funds are adjusting their positions, with AQR Capital Management increasing its holdings by 68.8% and PDT Partners growing their stake by 188.2% during the same quarter.
• Analysts have made varying recommendations for Stellantis, with Bank of America lowering the rating to "neutral" and a target price drop to $11.75, while Jefferies upgraded it to "buy" with a target of $13.20.

Alliancebernstein L.P. lessened its stake in shares of Stellantis N.V. (NYSE:STLA - Free Report) by 27.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,053,022 shares of the company's stock after selling 757,503 shares during the quarter. Alliancebernstein L.P. owned about 0.07% of Stellantis worth $23,014,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. AQR Capital Management LLC grew its holdings in Stellantis by 68.8% during the 1st quarter. AQR Capital Management LLC now owns 82,009 shares of the company's stock valued at $919,000 after buying an additional 33,429 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in Stellantis by 7.2% during the 1st quarter. Advisors Asset Management Inc. now owns 58,070 shares of the company's stock valued at $651,000 after buying an additional 3,885 shares in the last quarter. Amundi grew its holdings in Stellantis by 6.4% during the 1st quarter. Amundi now owns 78,473,374 shares of the company's stock valued at $801,213,000 after buying an additional 4,708,200 shares in the last quarter. Chiron Capital Management LLC purchased a new position in Stellantis during the 1st quarter valued at about $159,000. Finally, PDT Partners LLC grew its holdings in Stellantis by 188.2% during the 1st quarter. PDT Partners LLC now owns 688,841 shares of the company's stock valued at $7,722,000 after buying an additional 449,848 shares in the last quarter. Hedge funds and other institutional investors own 59.48% of the company's stock.

Analysts Set New Price Targets

STLA has been the subject of a number of recent analyst reports. Bank of America lowered Stellantis from a "buy" rating to a "neutral" rating and reduced their target price for the company from $16.50 to $11.75 in a report on Monday, July 7th. BNP Paribas Exane assumed coverage on Stellantis in a report on Monday. They set a "neutral" rating and a $10.10 price objective for the company. Wolfe Research lowered Stellantis from a "peer perform" rating to an "underperform" rating in a report on Wednesday, July 2nd. Jefferies Financial Group raised Stellantis from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $10.25 to $13.20 in a report on Wednesday, June 25th. Finally, Zacks Research lowered Stellantis from a "hold" rating to a "strong sell" rating in a report on Monday, August 25th. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Reduce" and an average target price of $12.21.

Stellantis Stock Down 1.8%

Shares of STLA opened at $8.76 on Thursday. The firm has a market cap of $26.47 billion, a P/E ratio of 2.57, a P/E/G ratio of 0.53 and a beta of 1.46. The stock has a 50 day simple moving average of $9.55 and a two-hundred day simple moving average of $10.21. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.06 and a quick ratio of 0.77. Stellantis N.V. has a 1 year low of $8.39 and a 1 year high of $16.29.

About Stellantis

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.

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