Hsbc Holdings PLC Buys 19,673 Shares of Adient $ADNT

Key Points

• Hsbc Holdings PLC increased its ownership in Adient by 47.7%, acquiring an additional 19,673 shares, bringing its total stake to 60,939 shares, valued at approximately $776,000.
• Institutional investors collectively own 92.44% of Adient, indicating strong support from financial entities, with several hedge funds making significant adjustments to their holdings recently.
• Adient reported $0.45 earnings per share, slightly missing analysts' estimates, amidst a revenue increase of 0.7% year-over-year, with expectations set for an annual EPS of 1.76.

Hsbc Holdings PLC grew its position in Adient (NYSE:ADNT - Free Report) by 47.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 60,939 shares of the company's stock after purchasing an additional 19,673 shares during the period. Hsbc Holdings PLC owned about 0.07% of Adient worth $776,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Point72 Hong Kong Ltd acquired a new position in Adient in the fourth quarter valued at about $25,000. Brooklyn Investment Group raised its stake in shares of Adient by 23,600.0% in the first quarter. Brooklyn Investment Group now owns 2,133 shares of the company's stock valued at $27,000 after acquiring an additional 2,124 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Adient by 157.5% in the 1st quarter. GAMMA Investing LLC now owns 2,235 shares of the company's stock worth $29,000 after acquiring an additional 1,367 shares in the last quarter. CWM LLC boosted its holdings in shares of Adient by 91.4% in the 1st quarter. CWM LLC now owns 3,426 shares of the company's stock worth $44,000 after acquiring an additional 1,636 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its position in Adient by 418.2% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 4,679 shares of the company's stock worth $60,000 after acquiring an additional 3,776 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on ADNT. Stifel Nicolaus began coverage on Adient in a research report on Thursday, August 21st. They issued a "buy" rating and a $27.00 price objective for the company. Morgan Stanley lifted their price target on Adient from $16.00 to $17.00 and gave the company an "underweight" rating in a report on Tuesday, August 12th. Cfra Research upgraded shares of Adient from a "moderate sell" rating to a "hold" rating in a research report on Thursday, August 7th. Wall Street Zen upgraded shares of Adient from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Finally, Zacks Research downgraded shares of Adient from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 18th. One equities research analyst has rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus price target of $21.72.

Adient Price Performance

Adient stock opened at $24.82 on Friday. The business's 50-day simple moving average is $22.44 and its 200 day simple moving average is $17.29. The company has a quick ratio of 0.92, a current ratio of 1.12 and a debt-to-equity ratio of 1.15. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of -9.37, a P/E/G ratio of 0.82 and a beta of 1.72. Adient has a 12-month low of $10.04 and a 12-month high of $25.84.

Adient (NYSE:ADNT - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.47 by ($0.02). The business had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.56 billion. Adient had a negative net margin of 1.53% and a positive return on equity of 8.25%. The business's revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.32 earnings per share. As a group, research analysts anticipate that Adient will post 1.76 earnings per share for the current year.

About Adient

Adient plc engages in the design, development, manufacture, and market of seating systems and components for passenger cars, commercial vehicles, and light trucks. The company's automotive seating solutions include complete seating systems, frames, mechanisms, foams, head restraints, armrests, and trim covers.

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