Stellantis (NYSE:STLA) Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp grew its stake in Stellantis (NYSE:STLA) by 82.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 420,889 shares of the company’s stock after purchasing an additional 190,458 shares during the period. Mackenzie Financial Corp’s holdings in Stellantis were worth $8,328,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cim LLC purchased a new stake in Stellantis during the fourth quarter worth $1,977,000. Hennion & Walsh Asset Management Inc. raised its position in shares of Stellantis by 21.2% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 45,929 shares of the company’s stock worth $1,300,000 after acquiring an additional 8,027 shares during the period. Capital Research Global Investors grew its position in shares of Stellantis by 5.2% during the 1st quarter. Capital Research Global Investors now owns 1,203,915 shares of the company’s stock valued at $34,218,000 after acquiring an additional 59,169 shares during the period. Prudential PLC increased its stake in shares of Stellantis by 11.0% in the 4th quarter. Prudential PLC now owns 1,574,912 shares of the company’s stock valued at $36,777,000 after purchasing an additional 156,112 shares in the last quarter. Finally, TOMS Capital Investment Management LP acquired a new position in Stellantis in the 4th quarter worth about $106,339,000. Institutional investors and hedge funds own 59.48% of the company’s stock.

Stellantis Stock Performance

STLA opened at $14.05 on Tuesday. The firm has a market capitalization of $44.02 billion, a PE ratio of 2.81, a PEG ratio of 0.27 and a beta of 1.63. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.26. Stellantis has a twelve month low of $13.76 and a twelve month high of $29.51. The firm’s 50-day moving average price is $16.07 and its 200 day moving average price is $20.73.

Insider Activity

In related news, major shareholder N.V. Stellantis acquired 2,982,089 shares of Stellantis stock in a transaction that occurred on Thursday, August 8th. The shares were purchased at an average price of $3.35 per share, for a total transaction of $9,989,998.15. Following the completion of the transaction, the insider now owns 59,734,962 shares in the company, valued at approximately $200,112,122.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the company. Wolfe Research reissued a “peer perform” rating on shares of Stellantis in a report on Thursday, September 5th. Nomura Securities raised shares of Stellantis from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft cut shares of Stellantis from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Barclays upgraded shares of Stellantis to a “strong-buy” rating in a research report on Monday, June 17th. Finally, Jefferies Financial Group restated a “hold” rating and set a $16.44 price target (down previously from $27.30) on shares of Stellantis in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Stellantis currently has an average rating of “Moderate Buy” and a consensus target price of $27.34.

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.