Tudor Investment Corp ET AL Reduces Stock Holdings in Adient $ADNT

Key Points

• Tudor Investment Corp cut its stake in Adient by 43.3% in Q3, selling 129,761 shares and ending the quarter with 169,730 shares valued at about $4.09 million (roughly 0.21% of the company).
• Institutional ownership is high at 92.44%, with several funds either initiating or increasing positions in Q3 (including CIBC Bancorp USA, PharVision, Verition, Quarry and Lighthouse).
• Analysts show a mixed view: the consensus rating is Hold with a $27.44 price target (4 Buy, 6 Hold, 2 Sell), while several firms have recently raised price targets or upgraded coverage.

Tudor Investment Corp ET AL lessened its position in shares of Adient (NYSE:ADNT - Free Report) by 43.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 169,730 shares of the company's stock after selling 129,761 shares during the quarter. Tudor Investment Corp ET AL owned approximately 0.21% of Adient worth $4,087,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ADNT. CIBC Bancorp USA Inc. acquired a new stake in Adient in the 3rd quarter valued at about $216,000. PharVision Advisers LLC acquired a new position in Adient during the third quarter worth about $351,000. Verition Fund Management LLC lifted its holdings in shares of Adient by 4.5% in the third quarter. Verition Fund Management LLC now owns 97,297 shares of the company's stock valued at $2,343,000 after purchasing an additional 4,180 shares in the last quarter. Quarry LP lifted its holdings in shares of Adient by 163.9% in the third quarter. Quarry LP now owns 2,304 shares of the company's stock valued at $55,000 after purchasing an additional 1,431 shares in the last quarter. Finally, Lighthouse Investment Partners LLC acquired a new stake in shares of Adient in the third quarter valued at approximately $766,000. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on ADNT shares. JPMorgan Chase & Co. raised their price objective on shares of Adient from $24.00 to $28.00 and gave the stock a "neutral" rating in a research note on Friday, February 6th. Barclays lowered their target price on Adient from $27.00 to $26.00 and set an "equal weight" rating on the stock in a report on Monday, March 30th. Stifel Nicolaus raised their price target on Adient from $24.00 to $26.00 and gave the stock a "buy" rating in a research report on Friday, January 23rd. Deutsche Bank Aktiengesellschaft raised Adient from a "hold" rating to a "buy" rating and set a $33.00 price target for the company in a report on Thursday, February 5th. Finally, Citigroup upped their price objective on Adient from $22.50 to $30.00 and gave the company a "neutral" rating in a research report on Monday, February 9th. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $27.44.

Adient Stock Performance

Shares of ADNT stock opened at $20.52 on Friday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.88 and a current ratio of 1.09. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of -5.67, a price-to-earnings-growth ratio of 0.45 and a beta of 1.55. Adient has a one year low of $10.04 and a one year high of $27.32. The company has a 50 day moving average price of $22.47 and a 200 day moving average price of $21.69.

Adient (NYSE:ADNT - Get Free Report) last announced its quarterly earnings results on Wednesday, February 4th. The company reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.16. Adient had a negative net margin of 2.06% and a positive return on equity of 8.18%. The company had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.45 billion. During the same quarter last year, the business earned $0.27 EPS. Adient's revenue for the quarter was up 4.3% on a year-over-year basis. Sell-side analysts anticipate that Adient will post 1.76 EPS for the current year.

Adient Company Profile

Adient plc NYSE: ADNT is a leading global supplier of automotive seating and interior components. Established in 2016 through a spin-off from Johnson Controls, the company designs, engineers and manufactures complete seat assemblies, seat structures, mechanisms, foams, textiles, trim and electronics. Adient's product portfolio spans a wide range of seating solutions, from entry-level designs to luxury and high-performance seats, and extends to interior modules such as door panels and center consoles.

Serving major original equipment manufacturers (OEMs) around the world, Adient works closely with automakers to develop lightweight, comfortable and safety-oriented seating systems.

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