Rhumbline Advisers Has $498,000 Stock Holdings in Stellantis (NYSE:STLA)

Rhumbline Advisers grew its holdings in Stellantis (NYSE:STLA) by 9.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,081 shares of the company’s stock after acquiring an additional 2,070 shares during the period. Rhumbline Advisers’ holdings in Stellantis were worth $498,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Rothschild Investment LLC acquired a new position in Stellantis during the second quarter worth $25,000. Westend Capital Management LLC acquired a new position in shares of Stellantis during the 1st quarter valued at about $38,000. ORG Partners LLC bought a new position in shares of Stellantis in the 2nd quarter valued at approximately $38,000. Cape Investment Advisory Inc. raised its stake in shares of Stellantis by 424.4% in the 4th quarter. Cape Investment Advisory Inc. now owns 2,145 shares of the company’s stock valued at $50,000 after acquiring an additional 1,736 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new stake in Stellantis in the 2nd quarter worth approximately $54,000. Institutional investors and hedge funds own 59.48% of the company’s stock.

Analysts Set New Price Targets

STLA has been the topic of a number of recent analyst reports. Barclays raised shares of Stellantis to a “strong-buy” rating in a research report on Monday, June 17th. Nomura raised shares of Stellantis from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 31st. Wolfe Research reaffirmed a “peer perform” rating on shares of Stellantis in a research report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft lowered Stellantis from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, Nomura Securities upgraded Stellantis from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, four have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Stellantis has an average rating of “Moderate Buy” and an average price target of $27.34.

Stellantis Stock Performance

NYSE STLA opened at $15.25 on Thursday. Stellantis has a twelve month low of $14.76 and a twelve month high of $29.51. The firm has a 50-day simple moving average of $16.39 and a 200 day simple moving average of $21.04. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.26.

Insiders Place Their Bets

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

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.