Readystate Asset Management LP Acquires Shares of 125,000 Stellantis N.V. $STLA

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

Other institutional investors have also recently made changes to their positions in the company. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its position in Stellantis by 113.6% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 3,300 shares of the company’s stock valued at $36,000 after purchasing an additional 1,755 shares during the period. Intesa Sanpaolo Wealth Management acquired a new stake in Stellantis during the 4th quarter worth about $49,000. Sarver Vrooman Wealth Advisors purchased a new position in shares of Stellantis during the 4th quarter valued at about $52,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Stellantis by 63.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,286 shares of the company’s stock valued at $63,000 after buying an additional 2,448 shares during the period. Finally, MASTERINVEST Kapitalanlage GmbH acquired a new position in shares of Stellantis in the 2nd quarter valued at about $65,000. Hedge funds and other institutional investors own 59.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on STLA shares. TD Cowen reaffirmed a “hold” rating on shares of Stellantis in a report on Wednesday, August 26th. HSBC lowered Stellantis from a “hold” rating to a “reduce” rating in a research report on Friday, July 3rd. Citigroup reaffirmed a “neutral” rating on shares of Stellantis in a report on Thursday, July 9th. Weiss Ratings cut shares of Stellantis from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Stellantis in a report on Tuesday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have assigned a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat.com, Stellantis has a consensus rating of “Reduce” and an average target price of $8.50.

Stellantis Price Performance

Shares of STLA opened at $5.56 on Tuesday. The firm 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 N.V. has a 12 month low of $5.05 and a 12 month high of $12.22. The stock’s 50 day moving average is $5.57 and its two-hundred day moving average is $6.71. The company has a current ratio of 1.04, a quick ratio of 0.76 and a debt-to-equity ratio of 0.59.

Stellantis (NYSE:STLA) last announced its earnings results on Tuesday, June 30th. The company reported $0.14 earnings per share for the quarter. The business had revenue of $49.63 billion for the quarter. Analysts predict that Stellantis N.V. will post 0.61 earnings per share for the current fiscal year.

Stellantis Profile

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.