5 Latest Stock Picks of Billionaire Ray Dalio

2. Lithia Motors, Inc. (NYSE:LAD)

Bridgewater Associates’ Stake Value: $2,390,000
Percent of Bridgewater Associates’ 13F Portfolio: 0.01%
Number of Hedge Fund Holders: 63

Lithia Motors, Inc. (NYSE:LAD) is an American automotive retailer company, based in Oregon, U.S. In Q3, Dalio’s Bridgewater Associates started building its position in the company with shares worth $2.39 million. Lithia Motors, Inc. (NYSE:LAD) represents 0.01% of Ray Dalio’s portfolio.

As of Q2, Insider Monkey’s data showed that hedge fund interest spiked in Lithia Motors, Inc. (NYSE:LAD), as 63 hedge funds held stakes in the company, up from 40 in the previous quarter. The total value of these stakes is roughly $3 billion, compared with $2.3 billion in Q1.

On October 20, Lithia Motors, Inc. (NYSE:LAD) announced its Q3 earnings and posted an EPS of $11.21, beating the consensus by $1.91. The company also reported a solid 53.9% quarter-over-quarter growth in new-vehicle retail revenues. Recently, Craig Hallum lifted its price target on Lithia Motors, Inc. (NYSE:LAD) to $520, while keeping a Buy rating on the shares.