Quantedge Capital Pte Ltd Sells 377,200 Shares of Adient $ADNT

Quantedge Capital Pte Ltd lessened its stake in shares of Adient (NYSE:ADNT) by 49.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 391,211 shares of the company’s stock after selling 377,200 shares during the quarter. Adient comprises 4.3% of Quantedge Capital Pte Ltd’s investment portfolio, making the stock its 5th biggest holding. Quantedge Capital Pte Ltd owned about 0.50% of Adient worth $7,906,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in the company. Leonteq Securities AG acquired a new position in Adient during the 4th quarter worth approximately $30,000. Quarry LP grew its stake in Adient by 163.9% in the third quarter. Quarry LP now owns 2,304 shares of the company’s stock valued at $55,000 after acquiring an additional 1,431 shares during the period. Parallel Advisors LLC increased its holdings in shares of Adient by 19.4% during the first quarter. Parallel Advisors LLC now owns 3,186 shares of the company’s stock valued at $64,000 after acquiring an additional 517 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Adient during the second quarter valued at approximately $63,000. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Adient during the fourth quarter worth approximately $64,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Adient news, EVP Heather M. Tiltmann sold 22,000 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $22.71, for a total value of $499,620.00. Following the completion of the sale, the executive vice president directly owned 110,886 shares of the company’s stock, valued at approximately $2,518,221.06. This represents a 16.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.94% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on ADNT shares. Wells Fargo & Company lifted their price target on shares of Adient from $28.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, June 25th. Stifel Nicolaus dropped their price objective on shares of Adient from $28.00 to $26.00 and set a “buy” rating on the stock in a research note on Monday. JPMorgan Chase & Co. lowered their target price on shares of Adient from $28.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft cut their price target on Adient from $31.00 to $29.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Finally, Barclays boosted their price objective on Adient from $26.00 to $29.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Five equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $28.11.

Adient Price Performance

Shares of NYSE:ADNT opened at $19.95 on Wednesday. The company has a current ratio of 1.10, a quick ratio of 0.91 and a debt-to-equity ratio of 1.18. The stock has a market cap of $1.56 billion, a PE ratio of 28.09, a price-to-earnings-growth ratio of 0.38 and a beta of 1.53. The stock’s fifty day simple moving average is $20.86 and its two-hundred day simple moving average is $21.56. Adient has a 1-year low of $17.68 and a 1-year high of $27.32.

Adient (NYSE:ADNT) last posted its earnings results on Wednesday, May 6th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.08. The firm had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.62 billion. Adient had a net margin of 0.39% and a return on equity of 7.28%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.69 EPS. As a group, analysts forecast that Adient will post 2.13 EPS for the current fiscal year.

Adient Profile

Adient plc (NYSE: ADNT) is a leading global supplier of automotive seating and interior components. Established in 2016 through a spin-off from Johnson Controls, the company designs, engineers and manufactures complete seat assemblies, seat structures, mechanisms, foams, textiles, trim and electronics. Adient’s product portfolio spans a wide range of seating solutions, from entry-level designs to luxury and high-performance seats, and extends to interior modules such as door panels and center consoles.

Serving major original equipment manufacturers (OEMs) around the world, Adient works closely with automakers to develop lightweight, comfortable and safety-oriented seating systems.