Elgethun Capital Management Buys 228,667 Shares of Stellantis N.V. (NYSE:STLA)

Key Points

• Elgethun Capital Management has significantly increased its stake in Stellantis N.V. by 259.8%, acquiring an additional 228,667 shares to own a total of 316,685 shares valued at approximately $3.55 million.
• Other institutional investors have also increased their holdings in Stellantis, with Goldman Sachs boosting its position by 208% and Marshall Wace LLP raising its stake by a staggering 72,446% during the last quarter.
• Stellantis has recently seen positive analyst activity, with Jefferies upgrading its rating from "hold" to "buy," raising the price target from $10.25 to $13.20.

Elgethun Capital Management increased its position in Stellantis N.V. (NYSE:STLA - Free Report) by 259.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 316,685 shares of the company's stock after purchasing an additional 228,667 shares during the quarter. Elgethun Capital Management's holdings in Stellantis were worth $3,550,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in STLA. ASR Vermogensbeheer N.V. bought a new position in Stellantis during the 1st quarter valued at approximately $9,764,000. Vanguard Group Inc. increased its position in Stellantis by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 87,342,145 shares of the company's stock valued at $979,629,000 after buying an additional 2,791,016 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Stellantis by 208.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 95,367,261 shares of the company's stock valued at $1,069,067,000 after buying an additional 64,406,866 shares in the last quarter. Atria Wealth Solutions Inc. bought a new position in Stellantis during the 1st quarter valued at approximately $119,000. Finally, Raiffeisen Bank International AG increased its position in Stellantis by 91.7% during the 1st quarter. Raiffeisen Bank International AG now owns 16,849 shares of the company's stock valued at $177,000 after buying an additional 8,060 shares in the last quarter. Hedge funds and other institutional investors own 59.48% of the company's stock.

Stellantis Stock Performance

Shares of STLA traded up $0.20 during trading hours on Friday, hitting $9.42. The stock had a trading volume of 12,906,952 shares, compared to its average volume of 27,282,780. 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 12 month low of $8.39 and a 12 month high of $16.92. The firm has a market capitalization of $28.48 billion, a PE ratio of 2.76, a PEG ratio of 0.55 and a beta of 1.45. The stock has a fifty day moving average price of $9.71 and a 200 day moving average price of $10.83.

Analyst Ratings Changes

STLA has been the subject of a number of analyst reports. Jefferies Financial Group raised Stellantis from a "hold" rating to a "buy" rating and raised their price objective for the company from $10.25 to $13.20 in a research report on Wednesday, June 25th. Bank of America lowered Stellantis from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $16.50 to $11.75 in a report on Monday, July 7th. Redburn Atlantic lowered Stellantis from a "buy" rating to a "neutral" rating in a report on Tuesday, April 22nd. DZ Bank raised Stellantis from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 22nd. Finally, UBS Group lowered Stellantis from a "buy" rating to a "neutral" rating in a report on Monday, April 14th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price 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.