Renaissance Group LLC Sells 6,621 Shares of Stellantis (NYSE:STLA)

Renaissance Group LLC reduced its holdings in shares of Stellantis (NYSE:STLA) by 1.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 430,386 shares of the company’s stock after selling 6,621 shares during the quarter. Renaissance Group LLC’s holdings in Stellantis were worth $7,829,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of STLA. Norges Bank bought a new position in Stellantis in the fourth quarter valued at about $451,611,000. ANTIPODES PARTNERS Ltd bought a new position in Stellantis in the first quarter valued at about $101,247,000. SRS Investment Management LLC raised its position in Stellantis by 83.1% in the fourth quarter. SRS Investment Management LLC now owns 8,463,989 shares of the company’s stock valued at $120,189,000 after purchasing an additional 3,840,653 shares during the last quarter. M&G Investment Management Ltd. raised its position in Stellantis by 47.2% in the first quarter. M&G Investment Management Ltd. now owns 9,240,343 shares of the company’s stock valued at $170,373,000 after purchasing an additional 2,963,802 shares during the last quarter. Finally, FIL Ltd raised its position in Stellantis by 67.4% in the first quarter. FIL Ltd now owns 6,516,220 shares of the company’s stock valued at $118,271,000 after purchasing an additional 2,623,757 shares during the last quarter. 28.17% of the stock is currently owned by institutional investors.

Stellantis Trading Up 0.6 %

Stellantis stock traded up $0.10 during mid-day trading on Friday, reaching $18.19. The stock had a trading volume of 2,050,593 shares, compared to its average volume of 5,128,181. The company has a current ratio of 1.29, a quick ratio of 1.03 and a debt-to-equity ratio of 0.26. Stellantis has a fifty-two week low of $11.57 and a fifty-two week high of $20.71. The stock’s 50-day simple moving average is $18.54 and its 200-day simple moving average is $17.57.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Bank of America upgraded Stellantis from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 12th. Citigroup downgraded Stellantis from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 9th. Finally, Jefferies Financial Group raised their price objective on Stellantis from $22.90 to $25.30 and gave the stock a “buy” rating in a research report on Monday, July 31st. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $22.15.

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 passenger vehicles; pickup trucks, sport utility vehicles, and commercial vehicles; and parts and services, as well as retail and dealer financing, leasing, and rental services.