Pilgrim Partners Asia Pte Ltd Takes Position in Stellantis (NYSE:STLA)

Pilgrim Partners Asia Pte Ltd bought a new position in shares of Stellantis (NYSE:STLA) during the fourth quarter, Holdings Channel.com reports. The fund bought 3,600 shares of the company’s stock, valued at approximately $47,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. acquired a new stake in shares of Stellantis in the 4th quarter valued at $26,000. MassMutual Private Wealth & Trust FSB raised its stake in Stellantis by 67.0% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 3,711 shares of the company’s stock valued at $48,000 after buying an additional 1,489 shares in the last quarter. Spire Wealth Management boosted its position in shares of Stellantis by 29.7% during the 4th quarter. Spire Wealth Management now owns 5,291 shares of the company’s stock worth $69,000 after acquiring an additional 1,211 shares in the last quarter. Central Pacific Bank Trust Division increased its holdings in shares of Stellantis by 160.0% in the 4th quarter. Central Pacific Bank Trust Division now owns 6,500 shares of the company’s stock valued at $85,000 after acquiring an additional 4,000 shares during the last quarter. Finally, Life Planning Partners Inc purchased a new stake in Stellantis during the fourth quarter worth approximately $85,000. Hedge funds and other institutional investors own 59.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on STLA shares. Piper Sandler cut shares of Stellantis from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $23.00 to $13.00 in a report on Thursday, March 20th. Cowen began coverage on shares of Stellantis in a research report on Thursday, March 6th. They issued a “hold” rating for the company. Finally, TD Cowen initiated coverage on Stellantis in a report on Friday, March 7th. They set a “hold” rating and a $13.00 price objective on the stock. Nine analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Stellantis currently has an average rating of “Hold” and an average price target of $19.27.

Stellantis Stock Performance

NYSE STLA opened at $9.72 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.26. The business’s 50 day moving average is $12.71 and its two-hundred day moving average is $13.16. The stock has a market capitalization of $29.37 billion, a price-to-earnings ratio of 2.85 and a beta of 1.44. Stellantis has a 12-month low of $9.36 and a 12-month high of $27.56.

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 vehicles; sport utility vehicles; American and European brand vehicles; and parts and services, as well as retail and dealer financing, leasing, and rental services.