, an investment management company, released its “Ariel Global Fund” second-quarter 2024 investor letter. A copy of the letter can be . In the second quarter, the Ariel Global fund fell -3.
12% underperforming the +2.87% return of its primary benchmark, the MSCI ACWI Index, and -0.59% return of its secondary benchmark, the MSCI ACWI Value Index.
Ariel follows a non-consensus approach to identify undervalued, out-of-favor franchises that are misunderstood and mispriced. In addition, please check the fund’s top five holdings to know its best picks in 2024. Ariel Global Fund highlighted stocks like Stellantis N.
V. (NYSE: ) in the second quarter 2024 investor letter. Stellantis N.
V. (NYSE:STLA) is a multinational automotive manufacturer. The one-month return of Stellantis N.
V. (NYSE:STLA) was 0.54%, and its shares lost 10.
36% of their value over the last 52 weeks. On August 27, 2024, Stellantis N.V.
(NYSE:STLA) stock closed at $16.78 per share with a market capitalization of $49.081 billion.
Ariel Global Fund stated the following regarding Stellantis N.V. (NYSE:STLA) in its Q2 2024 investor letter: "Finally, multinational automotive manufacturing company, (NYSE:STLA), fell in the quarter as higher interest rates in the U.
S. and tapering demand for high-volume combustion engine models resulted in elevated U.S.
inventory levels. Nonetheless, pricing outperformed expectations and management reiterated full-year guidance of double-digit adjusted operating profit margin and posit.