Stellantis (NYSE:STLA) Shares Gap Down to $24.92

Stellantis (NYSE:STLA) gapped down before the market opened on Tuesday . The stock had previously closed at $24.92, but opened at $22.82. Stellantis shares last traded at $22.77, with a volume of 4,452,914 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on STLA. Wolfe Research began coverage on Stellantis in a research report on Thursday, February 1st. They set an “outperform” rating on the stock. Morgan Stanley raised their price target on Stellantis from $26.00 to $30.40 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Berenberg Bank reaffirmed a “hold” rating on shares of Stellantis in a research report on Tuesday, March 26th. Redburn Atlantic initiated coverage on Stellantis in a research report on Wednesday, January 24th. They issued a “buy” rating on the stock. Finally, Sanford C. Bernstein downgraded Stellantis from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $30.28.

Stellantis Price Performance

The company has a debt-to-equity ratio of 0.24, a current ratio of 1.24 and a quick ratio of 0.95. The company’s 50 day moving average is $26.94 and its two-hundred day moving average is $23.50.

Stellantis Dividend Announcement

The firm also recently declared an annual dividend, which will be paid on Friday, May 3rd. Shareholders of record on Tuesday, April 23rd will be paid a dividend of $1.147 per share. This represents a yield of 4.55%. The ex-dividend date is Monday, April 22nd.

Insiders Place Their Bets

In other Stellantis news, major shareholder N.V. Stellantis purchased 800,000 shares of the business’s stock in a transaction on Friday, March 8th. The stock was purchased at an average price of $4.60 per share, for a total transaction of $3,680,000.00. Following the completion of the purchase, the insider now directly owns 35,451,720 shares in the company, valued at $163,077,912. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders acquired a total of 3,150,000 shares of company stock worth $15,724,500 over the last quarter.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Stellantis by 10.5% during the third quarter. Vanguard Group Inc. now owns 83,232,805 shares of the company’s stock worth $1,592,244,000 after buying an additional 7,883,816 shares in the last quarter. Norges Bank acquired a new stake in shares of Stellantis during the fourth quarter worth approximately $832,785,000. Acadian Asset Management LLC increased its holdings in shares of Stellantis by 100,358.0% during the third quarter. Acadian Asset Management LLC now owns 20,993,704 shares of the company’s stock worth $404,714,000 after buying an additional 20,972,806 shares in the last quarter. Invesco Ltd. acquired a new stake in shares of Stellantis during the third quarter worth approximately $232,047,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of Stellantis by 5.0% during the first quarter. Bank of New York Mellon Corp now owns 11,532,856 shares of the company’s stock worth $326,380,000 after buying an additional 548,929 shares in the last quarter. Institutional investors own 59.48% of the company’s stock.

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.