Magnetar Financial LLC Takes $2.75 Million Position in Adient plc (NYSE:ADNT)

Magnetar Financial LLC bought a new position in shares of Adient plc (NYSE:ADNT) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 83,416 shares of the company’s stock, valued at approximately $2,746,000. Magnetar Financial LLC owned about 0.09% of Adient as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. SummerHaven Investment Management LLC increased its position in Adient by 1.8% in the fourth quarter. SummerHaven Investment Management LLC now owns 17,327 shares of the company’s stock worth $630,000 after purchasing an additional 310 shares during the last quarter. ProShare Advisors LLC increased its stake in Adient by 2.0% during the first quarter. ProShare Advisors LLC now owns 20,885 shares of the company’s stock worth $688,000 after acquiring an additional 417 shares during the last quarter. Verdence Capital Advisors LLC raised its position in Adient by 6.4% during the first quarter. Verdence Capital Advisors LLC now owns 8,342 shares of the company’s stock valued at $275,000 after purchasing an additional 501 shares during the period. Watershed Asset Management L.L.C. boosted its holdings in shares of Adient by 8.2% in the 4th quarter. Watershed Asset Management L.L.C. now owns 7,818 shares of the company’s stock worth $284,000 after purchasing an additional 595 shares during the period. Finally, Sei Investments Co. increased its position in shares of Adient by 1.3% during the 1st quarter. Sei Investments Co. now owns 51,206 shares of the company’s stock valued at $1,686,000 after purchasing an additional 643 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors.

Adient Stock Down 0.1 %

NYSE ADNT traded down $0.03 during midday trading on Friday, hitting $25.07. 2,662,217 shares of the company traded hands, compared to its average volume of 1,145,146. Adient plc has a 52 week low of $22.93 and a 52 week high of $46.51. The company’s 50-day simple moving average is $25.91 and its 200-day simple moving average is $30.10. The company has a market cap of $2.25 billion, a PE ratio of 15.38, a price-to-earnings-growth ratio of 0.46 and a beta of 2.19. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.13 and a quick ratio of 0.91.

Adient (NYSE:ADNT) last issued its quarterly earnings data on Friday, May 3rd. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.15. Adient had a return on equity of 8.72% and a net margin of 1.04%. The company had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.80 billion. During the same quarter last year, the company earned $0.32 earnings per share. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. As a group, equities research analysts forecast that Adient plc will post 2.14 earnings per share for the current year.

Insider Transactions at Adient

In other Adient news, Director Peter Carlin sold 4,207 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $28.90, for a total value of $121,582.30. Following the completion of the sale, the director now directly owns 28,352 shares in the company, valued at $819,372.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

ADNT has been the subject of several recent analyst reports. Bank of America dropped their price objective on shares of Adient from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. BNP Paribas raised Adient from an “underperform” rating to a “neutral” rating and set a $26.00 target price on the stock in a research note on Monday, July 1st. Deutsche Bank Aktiengesellschaft decreased their price target on Adient from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Monday, May 6th. Morgan Stanley cut their price objective on Adient from $35.00 to $32.00 and set an “underweight” rating on the stock in a research report on Friday, May 10th. Finally, UBS Group decreased their target price on Adient from $31.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $34.33.

About Adient

Adient plc engages in the design, development, manufacture, and market of seating systems and components for passenger cars, commercial vehicles, and light trucks. The company's automotive seating solutions include complete seating systems, frames, mechanisms, foams, head restraints, armrests, and trim covers.