Gabelli Funds LLC Lowers Position in Stellantis N.V. $STLA

Key Points

• Gabelli Funds LLC reduced its stake in Stellantis N.V. by 34.0%, selling 29,572 shares and leaving it with 57,500 shares valued at approximately $645,000.
• Multiple hedge funds have adjusted their holdings in Stellantis, with Deutsche Bank AG acquiring a new position worth $368.5 million and LPL Financial LLC increasing its stake by 32.6%.
• Recent analyst revisions show mixed opinions on Stellantis, with Bank of America downgrading the stock to a "neutral" rating and Zacks Research declaring it a "strong sell," while Jefferies Financial Group upgraded it to a "buy."

Gabelli Funds LLC trimmed its holdings in shares of Stellantis N.V. (NYSE:STLA - Free Report) by 34.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,500 shares of the company's stock after selling 29,572 shares during the quarter. Gabelli Funds LLC's holdings in Stellantis were worth $645,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Farther Finance Advisors LLC raised its stake in shares of Stellantis by 54.5% during the 1st quarter. Farther Finance Advisors LLC now owns 3,309 shares of the company's stock worth $37,000 after buying an additional 1,167 shares during the period. Ballentine Partners LLC raised its stake in shares of Stellantis by 8.0% during the 1st quarter. Ballentine Partners LLC now owns 17,792 shares of the company's stock worth $199,000 after buying an additional 1,317 shares during the period. Glenorchy Capital Ltd raised its stake in shares of Stellantis by 4.9% during the 4th quarter. Glenorchy Capital Ltd now owns 28,701 shares of the company's stock worth $375,000 after buying an additional 1,340 shares during the period. Strengthening Families & Communities LLC raised its stake in shares of Stellantis by 4.0% during the 1st quarter. Strengthening Families & Communities LLC now owns 44,038 shares of the company's stock worth $494,000 after buying an additional 1,700 shares during the period. Finally, National Bank of Canada FI raised its stake in shares of Stellantis by 10.3% during the 1st quarter. National Bank of Canada FI now owns 19,132 shares of the company's stock worth $214,000 after buying an additional 1,786 shares during the period. 59.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on STLA shares. Zacks Research downgraded Stellantis from a "hold" rating to a "strong sell" rating in a research note on Monday, August 25th. Jefferies Financial Group raised Stellantis from a "hold" rating to a "buy" rating and increased their price objective for the company from $10.25 to $13.20 in a research note on Wednesday, June 25th. Wolfe Research downgraded Stellantis from a "peer perform" rating to an "underperform" rating in a research note on Wednesday, July 2nd. Finally, Bank of America downgraded Stellantis from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $16.50 to $11.75 in a research note on Monday, July 7th. One analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and a consensus target price of $12.74.

Stellantis Trading Down 2.2%

Shares of STLA traded down $0.22 during midday trading on Tuesday, reaching $9.42. The company had a trading volume of 11,863,139 shares, compared to its average volume of 10,959,216. Stellantis N.V. has a 1-year low of $8.39 and a 1-year high of $16.38. The stock has a market cap of $28.46 billion, a PE ratio of 2.76, a price-to-earnings-growth ratio of 0.57 and a beta of 1.46. The firm has a 50 day simple moving average of $9.68 and a 200-day simple moving average of $10.40. The company has a quick ratio of 0.77, a current ratio of 1.06 and a debt-to-equity ratio of 0.37.

Stellantis 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.