Pzena Investment Management LLC Buys 272,920 Shares of Adient $ADNT

Key Points

• Pzena Investment Management LLC increased its stake in Adient by 7.0% in Q2, owning approximately 4.97% of the company after acquiring an additional 272,920 shares.
• Several hedge funds also significantly boosted their stakes in Adient, with institutional investors now owning 92.44% of the stock.
• Adient's stock receives mixed analyst ratings, with price targets ranging from $16.00 to $31.00 and an average rating of "Reduce".

Pzena Investment Management LLC lifted its stake in shares of Adient (NYSE:ADNT - Free Report) by 7.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,174,493 shares of the company's stock after acquiring an additional 272,920 shares during the quarter. Pzena Investment Management LLC owned approximately 4.97% of Adient worth $81,236,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Brooklyn Investment Group grew its stake in shares of Adient by 23,600.0% during the 1st 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 period. Fifth Third Bancorp boosted its stake in Adient by 544.4% in the 2nd quarter. Fifth Third Bancorp now owns 2,133 shares of the company's stock worth $42,000 after purchasing an additional 1,802 shares during the period. MassMutual Private Wealth & Trust FSB boosted its stake in Adient by 991.0% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 2,182 shares of the company's stock worth $42,000 after purchasing an additional 1,982 shares during the period. GAMMA Investing LLC boosted its stake in 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 purchasing an additional 1,367 shares during the period. Finally, Parallel Advisors LLC boosted its stake in Adient by 13,957.9% in the 2nd quarter. Parallel Advisors LLC now owns 2,671 shares of the company's stock worth $52,000 after purchasing an additional 2,652 shares during the period. 92.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on ADNT. UBS Group upped their price target on Adient from $26.00 to $28.00 and gave the stock a "neutral" rating in a research note on Monday, October 6th. Weiss Ratings restated a "sell (d)" rating on shares of Adient in a research note on Wednesday, October 8th. Zacks Research downgraded Adient from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 18th. Wells Fargo & Company upgraded Adient from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $24.00 to $31.00 in a research note on Thursday, September 25th. Finally, Morgan Stanley upped their price objective on Adient from $16.00 to $17.00 and gave the stock an "underweight" rating in a report on Tuesday, August 12th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, Adient presently has an average rating of "Reduce" and a consensus price target of $23.13.

Adient Stock Performance

NYSE:ADNT opened at $22.40 on Monday. The stock's fifty day moving average is $24.08 and its 200 day moving average is $19.21. Adient has a fifty-two week low of $10.04 and a fifty-two week high of $26.16. The firm has a market capitalization of $1.82 billion, a PE ratio of -8.45, a PEG ratio of 0.75 and a beta of 1.77. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.92 and a current ratio of 1.12.

Adient (NYSE:ADNT - Get Free Report) last released its quarterly earnings results on Wednesday, May 31st. The company reported ($0.13) earnings per share for the quarter. Adient had a negative net margin of 1.53% and a positive return on equity of 8.25%. The company had revenue of $3.51 billion for the quarter. On average, sell-side 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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