Mediolanum International Funds Ltd Sells 502,052 Shares of Stellantis N.V. (NYSE:STLA)

Key Points

• Mediolanum International Funds Ltd reduced its stake in Stellantis N.V. by 52.2%, bringing its holdings down to 459,605 shares after selling over 500,000 shares in the first quarter.
• Stock analysts have recently made a range of ratings changes for Stellantis, with notable downgrades from UBS Group and Bank of America, while Jefferies Financial Group upgraded the stock.
• Stellantis stock has seen a 5.7% increase recently, with a current market capitalization of $30.61 billion and an average price target of $12.74.

Mediolanum International Funds Ltd lowered its position in shares of Stellantis N.V. (NYSE:STLA - Free Report) by 52.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 459,605 shares of the company's stock after selling 502,052 shares during the period. Mediolanum International Funds Ltd's holdings in Stellantis were worth $5,214,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bridgewater Associates LP bought a new stake in Stellantis during the 4th quarter worth $999,000. Korea Investment CORP lifted its holdings in Stellantis by 32.1% during the 4th quarter. Korea Investment CORP now owns 1,305,558 shares of the company's stock worth $17,020,000 after buying an additional 317,091 shares during the period. Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in Stellantis by 3.7% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,529,083 shares of the company's stock worth $59,045,000 after buying an additional 162,201 shares during the period. Michels Family Financial LLC acquired a new position in Stellantis during the 4th quarter worth about $375,000. Finally, Raymond James Financial Inc. acquired a new position in Stellantis during the 4th quarter worth about $1,151,000. Institutional investors own 59.48% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on STLA shares. Bank of America downgraded Stellantis from a "buy" rating to a "neutral" rating and cut their target price for the stock from $16.50 to $11.75 in a report on Monday, July 7th. Jefferies Financial Group raised Stellantis from a "hold" rating to a "buy" rating and lifted their target price for the stock from $10.25 to $13.20 in a report on Wednesday, June 25th. UBS Group downgraded Stellantis from a "buy" rating to a "neutral" rating in a report on Monday, April 14th. Wolfe Research downgraded Stellantis from a "peer perform" rating to an "underperform" rating in a report on Wednesday, July 2nd. Finally, Redburn Atlantic downgraded Stellantis from a "buy" rating to a "neutral" rating in a report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $12.74.

Stellantis Trading Down 4.2%

Shares of NYSE:STLA traded down $0.43 during midday trading on Monday, reaching $9.70. The company's stock had a trading volume of 41,722,457 shares, compared to its average volume of 28,760,032. The firm has a market capitalization of $29.32 billion, a price-to-earnings ratio of 2.84, a PEG ratio of 0.46 and a beta of 1.44. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.81 and a current ratio of 1.09. The firm has a 50 day moving average price of $9.94 and a two-hundred day moving average price of $11.04. Stellantis N.V. has a fifty-two week low of $8.39 and a fifty-two week high of $17.01.

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.