Assenagon Asset Management S.A. notably reduced its stake in Stellantis (NYSE:STLA) by 73.1% in Q4, selling 59,536 shares and leaving it with 21,961 shares worth $286,000. This marks a significant decrease, though the company is not alone in adjusting its holdings. Several hedge funds have either increased or decreased their stakes in the automotive giant recently.
- AustralianSuper Pty Ltd boosted its holdings by 26.3%, now owning 9,089,415 shares valued at $125.6 million.
- Conifer Management L.L.C. increased its stake by 26.4%, owning 9,000,000 shares worth $126.4 million.
- Franklin Resources Inc. saw a large increase of 74.7%, now holding 7,605,563 shares valued at $102.3 million.
- Quadrature Capital Ltd raised its holdings by 30.4%, bringing its share count to 3,445,648 shares worth $47.8 million.
- Healthcare of Ontario Pension Plan Trust Fund made the most significant move, increasing its stake by 464.4%, now holding 3,246,800 shares worth $45.6 million.
Collectively, hedge funds and institutional investors own nearly 60% of Stellantis stock.
Stellantis Stock Performance
Stellantis’ stock has been trading at $13.39, up 1.1% as of the latest market session. Its 1-year low is $12.12, and the 1-year high is $29.51, showing significant price fluctuation. The stock’s 50-day moving average is $13.02, while its 200-day moving average sits at $14.64, indicating some volatility in its recent performance. The company’s liquidity ratios show a current ratio of 1.14, a quick ratio of 0.85, and a debt-to-equity ratio of 0.26, which may be considered moderate in terms of financial health.
Analyst Ratings and Future Outlook
Stellantis’ stock has garnered mixed reviews from analysts:
- Evercore ISI initiated coverage with an “inline” rating.
- Royal Bank of Canada maintained a “sector perform” rating.
- Barclays downgraded the stock from “overweight” to “equal weight.”
Currently, seven analysts have rated the stock as a Hold, while three have given it a Buy rating and one has assigned a Strong Buy rating. The stock has an average target price of $27.34 according to MarketBeat, suggesting a potential upside from its current level.
About Stellantis
Stellantis is a global leader in automotive manufacturing, encompassing a wide range of products and services including luxury vehicles, sport utility vehicles, light commercial vehicles, and parts. It also offers mobility services, dealer financing, leasing, and rental services, with a diverse portfolio of brands spanning both American and European markets.
The mixed moves among institutional investors, paired with the company’s volatile stock performance and a “Hold” rating from analysts, suggest that investors may want to be cautious with Stellantis at the moment. While some hedge funds are increasing their stakes, the company’s stock may face challenges due to competition and fluctuating market conditions. With a solid base of institutional ownership and a mixed analyst outlook, potential investors should keep an eye on upcoming financial reports and market trends before making decisions.
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