Ridgewood Investments LLC Buys Shares of 2,715 Stellantis (NYSE:STLA)

Ridgewood Investments LLC purchased a new stake in Stellantis (NYSE:STLA) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,715 shares of the company’s stock, valued at approximately $54,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in shares of Stellantis in the fourth quarter worth $832,785,000. Capital International Investors raised its stake in Stellantis by 329.3% in the 1st quarter. Capital International Investors now owns 22,503,781 shares of the company’s stock valued at $639,609,000 after purchasing an additional 17,261,955 shares during the last quarter. Capital World Investors lifted its holdings in Stellantis by 63.4% in the 1st quarter. Capital World Investors now owns 13,756,552 shares of the company’s stock valued at $390,811,000 after purchasing an additional 5,336,868 shares in the last quarter. M&G Plc acquired a new stake in shares of Stellantis during the 1st quarter worth about $128,254,000. Finally, TOMS Capital Investment Management LP purchased a new stake in shares of Stellantis during the fourth quarter worth about $106,339,000. Institutional investors and hedge funds own 59.48% of the company’s stock.

Analyst Ratings Changes

STLA has been the topic of a number of analyst reports. Barclays upgraded shares of Stellantis to a “strong-buy” rating in a research report on Monday, June 17th. Nomura raised Stellantis from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 31st. Jefferies Financial Group reiterated a “hold” rating and set a $16.44 target price (down from $27.30) on shares of Stellantis in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft cut Stellantis from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, Sanford C. Bernstein initiated coverage on shares of Stellantis in a report on Friday, June 28th. They set a “market perform” rating and a $23.50 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $27.34.

Insider Activity at Stellantis

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

Stellantis Trading Up 0.3 %

STLA traded up $0.05 during trading on Thursday, hitting $16.75. 4,874,184 shares of the company’s stock were exchanged, compared to its average volume of 6,249,379. Stellantis has a 1 year low of $15.11 and a 1 year high of $29.51. The stock has a 50 day moving average price of $18.19 and a 200 day moving average price of $22.50. The firm has a market cap of $52.47 billion, a P/E ratio of 3.30, a price-to-earnings-growth ratio of 0.24 and a beta of 1.63. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 0.26.

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.