Concurrent Investment Advisors LLC Makes New Investment in Stellantis (NYSE:STLA)

Concurrent Investment Advisors LLC purchased a new stake in Stellantis (NYSE:STLA) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 62,174 shares of the company’s stock, valued at approximately $1,234,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rothschild Investment LLC bought a new position in Stellantis in the 2nd quarter worth about $25,000. Westend Capital Management LLC bought a new position in shares of Stellantis in the first quarter valued at approximately $38,000. ORG Partners LLC purchased a new position in Stellantis during the second quarter valued at approximately $38,000. Cape Investment Advisory Inc. increased its holdings in Stellantis by 424.4% during the 4th quarter. Cape Investment Advisory Inc. now owns 2,145 shares of the company’s stock worth $50,000 after acquiring an additional 1,736 shares during the period. Finally, Ridgewood Investments LLC purchased a new stake in Stellantis in the 2nd quarter worth approximately $54,000. 59.48% of the stock is currently owned by institutional investors.

Stellantis Price Performance

STLA opened at $16.78 on Monday. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.26. The stock has a 50-day moving average price of $18.04 and a 200-day moving average price of $22.38. Stellantis has a 12-month low of $15.11 and a 12-month high of $29.51.

Insider Buying and Selling

In other Stellantis news, major shareholder N.V. Stellantis purchased 2,982,089 shares of Stellantis stock in a transaction on Thursday, August 8th. The shares were acquired at an average cost of $3.35 per share, for a total transaction of $9,989,998.15. Following the completion of the transaction, the insider now directly owns 59,734,962 shares of the company’s stock, valued at $200,112,122.70. The purchase was disclosed in a filing with the SEC, which is available at this link. 0.02% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on STLA shares. Jefferies Financial Group restated a “hold” rating and set a $16.44 price target (down from $27.30) on shares of Stellantis in a research report on Wednesday, August 7th. Barclays upgraded Stellantis to a “strong-buy” rating in a research report on Monday, June 17th. Sanford C. Bernstein assumed coverage on Stellantis in a report on Friday, June 28th. They issued a “market perform” rating and a $23.50 price target on the stock. Nomura Securities raised Stellantis from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft cut shares of Stellantis from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $27.34.

Stellantis Company 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.