, 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 positive free cash flow. Although we expect discounting to increase as U.
S. inventory ages, we maintain a constructive view on the company. We believe STLA's strong global footprint and unwavering dedication to leading the industry in profitability, operational excellence, and strategic foresight will continue to enhance long-term shareholder value.
" A close-up view of a modern automobile with its sleek curves and luxurious body. Stellantis N.V.
(NYSE:STLA) is not on our list of . As per our database, 31 hedge fund portfolios held Stellantis N.V.
(NYSE:STLA) at the end of the second quarter which was 35 in the previous quarter. The second quarter revenue of Stellantis N.V.
's (NYSE:STLA) was EUR85 billion, down 14% year over year. While we acknowledge the potential of Stellantis N.V.
(NYSE:STLA) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the . In , we discussed Stellantis N.
V. (NYSE:STLA) and shared the list of best EV stocks under $50 and the latest updates around the EV industry. Ariel Global Fund added Stellantis N.
V. (NYSE:STLA) to its portfolio in . In addition, please check out our page for more investor letters from hedge funds and other leading investors.
Disclosure: None. This article is originally published at ..
