Sycomore Asset Management Buys 180,067 Shares of Stellantis (NYSE:STLA)

Sycomore Asset Management boosted its stake in shares of Stellantis (NYSE:STLA) by 19.4% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,110,051 shares of the company’s stock after purchasing an additional 180,067 shares during the period. Stellantis makes up approximately 2.5% of Sycomore Asset Management’s portfolio, making the stock its 8th biggest holding. Sycomore Asset Management’s holdings in Stellantis were worth $16,905,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of STLA. Envestnet Portfolio Solutions Inc. increased its holdings in Stellantis by 5.7% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 10,508 shares of the company’s stock valued at $298,000 after purchasing an additional 562 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in Stellantis by 4.6% in the second quarter. Sequoia Financial Advisors LLC now owns 14,533 shares of the company’s stock valued at $288,000 after acquiring an additional 636 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Stellantis by 6.0% in the first quarter. EverSource Wealth Advisors LLC now owns 11,519 shares of the company’s stock valued at $326,000 after acquiring an additional 656 shares during the last quarter. Legacy Capital Group California Inc. increased its stake in Stellantis by 7.0% in the second quarter. Legacy Capital Group California Inc. now owns 10,777 shares of the company’s stock valued at $214,000 after purchasing an additional 707 shares during the period. Finally, CWM LLC increased its stake in shares of Stellantis by 7.6% during the second quarter. CWM LLC now owns 12,424 shares of the company’s stock worth $247,000 after acquiring an additional 874 shares during the period. 59.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on STLA. Deutsche Bank Aktiengesellschaft lowered shares of Stellantis from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Jefferies Financial Group reiterated a “hold” rating and set a $16.44 price target (down from $27.30) on shares of Stellantis in a research note on Wednesday, August 7th. Royal Bank of Canada reiterated a “sector perform” rating on shares of Stellantis in a research note on Friday, October 4th. Evercore ISI assumed coverage on shares of Stellantis in a research note on Monday. They set an “inline” rating on the stock. Finally, Wolfe Research restated a “peer perform” rating on shares of Stellantis in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Stellantis has an average rating of “Hold” and an average target price of $27.34.

Stellantis Stock Performance

Stellantis stock traded up $0.40 on Thursday, hitting $13.52. The company’s stock had a trading volume of 3,570,366 shares, compared to its average volume of 6,915,284. Stellantis has a one year low of $12.74 and a one year high of $29.51. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.26. The company has a fifty day moving average price of $14.07 and a 200-day moving average price of $17.70. The firm has a market cap of $42.36 billion, a P/E ratio of 4.13, a price-to-earnings-growth ratio of 0.40 and a beta of 1.62.

Stellantis 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.