Seven Eight Capital LP Buys 409,547 Shares of Stellantis (NYSE:STLA)

Seven Eight Capital LP raised its position in shares of Stellantis (NYSE:STLA) by 2,172.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 428,397 shares of the company’s stock after buying an additional 409,547 shares during the quarter. Stellantis accounts for 0.9% of Seven Eight Capital LP’s portfolio, making the stock its 2nd largest position. Seven Eight Capital LP’s holdings in Stellantis were worth $8,504,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in STLA. Rothschild Investment LLC purchased a new stake in Stellantis in the 2nd quarter worth about $25,000. Westend Capital Management LLC purchased a new position in shares of Stellantis during the 1st quarter valued at $38,000. ORG Partners LLC acquired a new position in shares of Stellantis in the second quarter worth $38,000. Cape Investment Advisory Inc. raised its holdings in shares of Stellantis by 424.4% during the fourth quarter. Cape Investment Advisory Inc. now owns 2,145 shares of the company’s stock worth $50,000 after acquiring an additional 1,736 shares in the last quarter. Finally, Scarborough Advisors LLC acquired a new stake in Stellantis during the fourth quarter valued at $59,000. 59.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on STLA shares. Barclays raised Stellantis to a “strong-buy” rating in a research note on Monday, June 17th. Nomura Securities upgraded Stellantis from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 31st. Wolfe Research reiterated a “peer perform” rating on shares of Stellantis in a research note on Thursday, September 5th. Nomura raised shares of Stellantis from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 31st. Finally, Sanford C. Bernstein began coverage on shares of Stellantis in a report on Friday, June 28th. They set a “market perform” rating and a $23.50 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Stellantis currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.34.

Insider Buying and Selling

In other Stellantis news, major shareholder N.V. Stellantis purchased 2,982,089 shares of the stock in a transaction dated Thursday, August 8th. The shares were bought at an average cost of $3.35 per share, with a total value of $9,989,998.15. Following the completion of the transaction, the insider now owns 59,734,962 shares in the company, valued at approximately $200,112,122.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.02% of the company’s stock.

Stellantis Price Performance

Shares of Stellantis stock opened at $15.10 on Wednesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.85 and a current ratio of 1.14. The firm has a fifty day simple moving average of $16.98 and a 200-day simple moving average of $21.49. Stellantis has a 1-year low of $14.76 and a 1-year high of $29.51.

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.