UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Holdings in Stellantis (NYSE:STLA)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in Stellantis (NYSE:STLA) by 47.4% during the 3rd quarter, Holdings Channel reports. The firm owned 2,612,412 shares of the company’s stock after selling 2,352,783 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Stellantis were worth $36,704,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Rothschild Investment LLC purchased a new stake in Stellantis in the 2nd quarter valued at approximately $25,000. ORG Partners LLC acquired a new position in shares of Stellantis in the second quarter worth $38,000. Waldron Private Wealth LLC purchased a new stake in shares of Stellantis in the third quarter valued at $33,000. Central Pacific Bank Trust Division acquired a new stake in shares of Stellantis during the third quarter valued at $35,000. Finally, Ridgewood Investments LLC purchased a new stake in Stellantis during the 2nd quarter worth about $54,000. 59.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on STLA shares. Evercore ISI started coverage on shares of Stellantis in a report on Monday, November 11th. They issued an “inline” rating on the stock. Barclays lowered shares of Stellantis from an “overweight” rating to an “equal weight” rating in a research report on Thursday, October 3rd. Royal Bank of Canada reiterated a “sector perform” rating on shares of Stellantis in a report on Friday, October 4th. Jefferies Financial Group restated a “hold” rating and set a $16.44 price objective (down previously from $27.30) on shares of Stellantis in a report on Wednesday, August 7th. Finally, Wolfe Research reiterated a “peer perform” rating on shares of Stellantis in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $27.34.

Stellantis Stock Up 1.1 %

Shares of STLA opened at $12.51 on Wednesday. Stellantis has a twelve month low of $12.12 and a twelve month high of $29.51. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.26. The stock’s fifty day simple moving average is $13.48 and its 200 day simple moving average is $16.81.

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.