Magnetar Financial LLC Buys Shares of 40,362 Stellantis (NYSE:STLA)

Magnetar Financial LLC purchased a new position in Stellantis (NYSE:STLA) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 40,362 shares of the company’s stock, valued at approximately $801,000.

Several other large investors also recently made changes to their positions in STLA. Vanguard Group Inc. grew its stake in Stellantis by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 83,818,351 shares of the company’s stock valued at $2,372,059,000 after buying an additional 972,232 shares during the last quarter. Capital International Investors lifted its position in Stellantis by 329.3% during the 1st quarter. Capital International Investors now owns 22,503,781 shares of the company’s stock worth $639,609,000 after acquiring an additional 17,261,955 shares during the last quarter. Capital World Investors increased its position in Stellantis by 63.4% in the 1st quarter. Capital World Investors now owns 13,756,552 shares of the company’s stock worth $390,811,000 after buying an additional 5,336,868 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Stellantis by 5.0% during the first quarter. Bank of New York Mellon Corp now owns 11,532,856 shares of the company’s stock worth $326,380,000 after buying an additional 548,929 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in shares of Stellantis by 0.4% in the second quarter. Canada Pension Plan Investment Board now owns 9,838,506 shares of the company’s stock valued at $194,755,000 after acquiring an additional 43,159 shares during the period. Institutional investors own 59.48% of the company’s stock.

Insider Buying and Selling at Stellantis

In other Stellantis news, major shareholder N.V. Stellantis bought 2,982,089 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were bought at an average price of $3.35 per share, for a total transaction of $9,989,998.15. Following the completion of the acquisition, the insider now owns 59,734,962 shares of the company’s stock, valued at $200,112,122.70. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on STLA. Nomura Securities raised shares of Stellantis from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 31st. Nomura raised shares of Stellantis from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 31st. Barclays upgraded shares of Stellantis to a “strong-buy” rating in a research note on Monday, June 17th. Sanford C. Bernstein assumed coverage on Stellantis in a research report on Friday, June 28th. They issued a “market perform” rating and a $23.50 price target on the stock. Finally, Wolfe Research reiterated a “peer perform” rating on shares of Stellantis in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, six have given a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.34.

Stellantis Stock Up 0.6 %

Shares of STLA opened at $15.55 on Wednesday. The company has a market capitalization of $48.72 billion, a P/E ratio of 3.11, a PEG ratio of 0.26 and a beta of 1.63. Stellantis has a one year low of $14.76 and a one year high of $29.51. The business’s 50 day simple moving average is $16.49 and its 200-day simple moving average is $21.08. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.14 and a quick ratio of 0.85.

About Stellantis

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.