M&G PLC Acquires 170,554 Shares of Stellantis N.V. $STLA

M&G PLC boosted its holdings in shares of Stellantis N.V. (NYSE:STLA) by 2.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 7,289,042 shares of the company’s stock after buying an additional 170,554 shares during the period. M&G PLC’s holdings in Stellantis were worth $33,038,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. IFP Advisors Inc grew its stake in Stellantis by 1,534.8% during the 2nd quarter. IFP Advisors Inc now owns 4,463 shares of the company’s stock worth $26,000 after purchasing an additional 4,190 shares in the last quarter. SYM FINANCIAL Corp purchased a new position in shares of Stellantis in the 3rd quarter valued at about $45,000. AlphaCore Capital LLC acquired a new position in shares of Stellantis during the third quarter worth about $45,000. Parallel Advisors LLC increased its stake in shares of Stellantis by 220.5% during the third quarter. Parallel Advisors LLC now owns 10,501 shares of the company’s stock worth $46,000 after buying an additional 7,225 shares during the period. Finally, Apollon Wealth Management LLC purchased a new stake in shares of Stellantis during the third quarter worth approximately $54,000. 59.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on STLA. Morgan Stanley cut shares of Stellantis from an “equal weight” rating to an “underweight” rating and set a $5.20 target price on the stock. in a report on Monday, September 14th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Stellantis in a report on Tuesday, July 14th. UBS Group downgraded shares of Stellantis from a “buy” rating to a “neutral” rating in a research report on Monday, August 3rd. HSBC reiterated a “reduce” rating on shares of Stellantis in a research note on Friday, October 23rd. Finally, Wall Street Zen raised shares of Stellantis from a “strong sell” rating to a “hold” rating in a research report on Sunday, November 1st. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have given a Hold rating and seven have given a Sell rating to the company. According to data from MarketBeat, Stellantis currently has an average rating of “Reduce” and an average price target of $7.38.

Stellantis Stock Performance

Shares of Stellantis stock opened at $4.43 on Tuesday. The firm’s fifty day simple moving average is $4.70 and its 200-day simple moving average is $6.44. Stellantis N.V. has a 12 month low of $3.92 and a 12 month high of $12.22. The stock has a market capitalization of $16.69 billion, a price-to-earnings ratio of 11.37, a PEG ratio of 0.44 and a beta of 1.48. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.02 and a quick ratio of 0.72.

Stellantis (NYSE:STLA) last issued its quarterly earnings results on Wednesday, October 28th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.26). The company had revenue of $42.60 billion for the quarter, compared to analysts’ expectations of $46.96 billion. As a group, equities analysts forecast that Stellantis N.V. will post 0.37 earnings per share for the current year.

About Stellantis

Stellantis N.V. is a global automaker formed in 2021 through the merger of Fiat Chrysler Automobiles and France’s Groupe PSA. Headquartered in Amsterdam, the company designs, manufactures and sells passenger cars, light commercial vehicles and related mobility products and services.

Its portfolio includes brands such as Jeep, Ram, Dodge, Chrysler, Fiat, Peugeot, Citroën, Opel, Vauxhall, Alfa Romeo and Maserati. Stellantis also develops electric and hybrid vehicles, automotive software and components, and offers financing and other services in some markets.

The company serves customers across North America, Europe, South America, the Middle East and Africa, and parts of Asia.