Elgethun Capital Management Sells 135,198 Shares of Stellantis (NYSE:STLA)

Elgethun Capital Management cut its stake in Stellantis (NYSE:STLA) by 60.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 88,018 shares of the company’s stock after selling 135,198 shares during the period. Elgethun Capital Management’s holdings in Stellantis were worth $1,149,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC raised its holdings in Stellantis by 4.9% in the 3rd quarter. FMR LLC now owns 3,137,594 shares of the company’s stock valued at $44,083,000 after acquiring an additional 145,583 shares in the last quarter. Royal London Asset Management Ltd. raised its stake in shares of Stellantis by 3.0% in the third quarter. Royal London Asset Management Ltd. now owns 356,463 shares of the company’s stock valued at $5,008,000 after purchasing an additional 10,257 shares in the last quarter. Wellington Management Group LLP bought a new position in Stellantis in the third quarter worth $4,126,000. National Bank of Canada FI boosted its stake in Stellantis by 5.1% during the third quarter. National Bank of Canada FI now owns 314,071 shares of the company’s stock worth $4,409,000 after buying an additional 15,146 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in Stellantis in the 3rd quarter valued at $16,558,000. Institutional investors own 59.48% of the company’s stock.

Stellantis Stock Down 4.8 %

Shares of NYSE STLA opened at $9.72 on Monday. 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 market cap of $29.37 billion, a price-to-earnings ratio of 2.85 and a beta of 1.44. Stellantis has a 12-month low of $8.90 and a 12-month high of $27.56. The firm’s 50-day simple moving average is $12.71 and its 200 day simple moving average is $13.13.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on STLA. Piper Sandler downgraded shares of Stellantis from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $23.00 to $13.00 in a report on Thursday, March 20th. TD Cowen began coverage on Stellantis in a report on Friday, March 7th. They set a “hold” rating and a $13.00 price objective on the stock. Finally, Cowen initiated coverage on Stellantis in a research report on Thursday, March 6th. They issued a “hold” rating on the stock. Nine investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Stellantis presently has a consensus rating of “Hold” and a consensus target price of $19.27.

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.