Readystate Asset Management LP Makes New Investment in Stellantis N.V. $STLA

Readystate Asset Management LP bought a new stake in shares of Stellantis N.V. (NYSE:STLA) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 125,000 shares of the company’s stock, valued at approximately $718,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Research Global Investors raised its stake in Stellantis by 34.9% in the 4th quarter. Capital Research Global Investors now owns 4,236,161 shares of the company’s stock valued at $46,769,000 after purchasing an additional 1,096,413 shares during the last quarter. Norges Bank acquired a new stake in Stellantis during the 4th quarter worth $553,692,000. Great Lakes Advisors LLC acquired a new stake in Stellantis during the 2nd quarter worth $1,936,000. Leonteq Securities AG purchased a new stake in shares of Stellantis during the fourth quarter worth $77,209,000. Finally, Franklin Resources Inc. grew its holdings in shares of Stellantis by 122.8% during the fourth quarter. Franklin Resources Inc. now owns 18,753,235 shares of the company’s stock worth $205,019,000 after buying an additional 10,337,920 shares in the last quarter. Hedge funds and other institutional investors own 59.48% of the company’s stock.

Stellantis Price Performance

Stellantis stock opened at $5.56 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 0.76 and a debt-to-equity ratio of 0.59. The company has a 50-day moving average price of $5.57 and a 200 day moving average price of $6.71. Stellantis N.V. has a 12-month low of $5.05 and a 12-month high of $12.22. The stock has a market cap of $20.93 billion, a P/E ratio of 14.26, a PEG ratio of 0.32 and a beta of 1.44.

Stellantis (NYSE:STLA) last posted its quarterly earnings results on Tuesday, June 30th. The company reported $0.14 earnings per share for the quarter. The firm had revenue of $49.63 billion during the quarter. Sell-side analysts anticipate that Stellantis N.V. will post 0.61 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on STLA. TD Cowen reissued a “hold” rating on shares of Stellantis in a research note on Wednesday, August 26th. UBS Group cut shares of Stellantis from a “buy” rating to a “neutral” rating in a research note on Monday, August 3rd. Wall Street Zen downgraded shares of Stellantis from a “sell” rating to a “strong sell” rating in a report on Saturday, August 22nd. HSBC lowered shares of Stellantis from a “hold” rating to a “reduce” rating in a research note on Friday, July 3rd. Finally, Truist Financial set a $9.00 price target on Stellantis in a research report on Friday, May 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have given a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $8.50.

About Stellantis

Stellantis N.V. is a global automotive manufacturer formed through the merger of Fiat Chrysler Automobiles (FCA) and Groupe PSA, a transaction completed in January 2021. The company designs, manufactures and sells a broad portfolio of passenger cars, light commercial vehicles and related powertrains under a large number of well-known brands, including (but not limited to) Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, Fiat, Jeep, Maserati, Opel, Peugeot, Ram and Vauxhall. Stellantis also provides parts, accessories, service operations and branded aftersales support through legacy networks such as Mopar and regional dealer ecosystems.

In addition to vehicle manufacturing, Stellantis operates mobility- and software-related businesses and financial services.