Renaissance Technologies LLC Boosts Stock Holdings in Stellantis N.V. $STLA

Renaissance Technologies LLC grew its holdings in Stellantis N.V. (NYSE:STLA) by 118.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,365,143 shares of the company’s stock after purchasing an additional 1,824,139 shares during the quarter. Renaissance Technologies LLC owned approximately 0.09% of Stellantis worth $23,540,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC raised its stake in Stellantis by 68.8% in the first quarter. AQR Capital Management LLC now owns 82,009 shares of the company’s stock worth $919,000 after buying an additional 33,429 shares in the last quarter. Focus Partners Wealth increased its holdings in shares of Stellantis by 37.2% in the 1st quarter. Focus Partners Wealth now owns 15,261 shares of the company’s stock valued at $171,000 after acquiring an additional 4,135 shares during the period. M&T Bank Corp purchased a new position in shares of Stellantis in the 2nd quarter valued at $154,000. EverSource Wealth Advisors LLC raised its position 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 worth $63,000 after acquiring an additional 2,448 shares in the last quarter. Finally, Cerity Partners LLC raised its position in shares of Stellantis by 9.2% in the 2nd quarter. Cerity Partners LLC now owns 65,473 shares of the company’s stock worth $657,000 after acquiring an additional 5,542 shares in the last quarter. Hedge funds and other institutional investors own 59.48% of the company’s stock.

Analyst Upgrades and Downgrades

STLA has been the topic of a number of recent research reports. Freedom Capital raised Stellantis from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 1st. Bank of America lowered shares of Stellantis from a “neutral” rating to an “underperform” rating in a research report on Monday, May 11th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Stellantis in a report on Tuesday, July 14th. Weiss Ratings reiterated a “sell (d)” rating on shares of Stellantis in a research note on Friday, July 17th. Finally, HSBC cut shares of Stellantis from a “hold” rating to a “reduce” rating in a research report on Friday, July 3rd. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, ten have given a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $8.79.

Stellantis Trading Up 4.4%

NYSE STLA opened at $6.01 on Thursday. Stellantis N.V. has a 12-month low of $5.25 and a 12-month high of $12.22. The company has a fifty day simple moving average of $6.42 and a two-hundred day simple moving average of $7.46. The company has a current ratio of 1.03, a quick ratio of 0.75 and a debt-to-equity ratio of 0.50. The stock has a market cap of $22.64 billion, a P/E ratio of 24.06, a P/E/G ratio of 0.30 and a beta of 1.46.

Stellantis (NYSE:STLA) last released its earnings results on Tuesday, March 31st. The company reported $0.16 earnings per share (EPS) for the quarter. The firm had revenue of $44.14 billion during the quarter. On average, analysts forecast that Stellantis N.V. will post 0.69 earnings per share for the current 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.