Was Peter Avellone’s Cartenna Capital Right About These 5 Stocks?

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

Cartenna Capital’s Stake Value: $11,905,000

Stock performance over the past 12 months as of November 24: -21%

Lithia Motors, Inc. (NYSE:LAD), one of the leading American automobile retailers, is one of the newest additions to Cartenna Capital’s Q3 portfolio, with the hedge fund buying 37,550 Lithia Motors, Inc. (NYSE:LAD) shares, worth $11.9 million, representing 4.40% of the total 13F securities. 

Morgan Stanley analyst Adam Jonas on November 17 lowered the price target on Lithia Motors, Inc. (NYSE:LAD) to $303 from $335 and kept an Underweight rating on the shares as he made significant changes to his dealer forecasts and ratings following Q3 results from the group. The analyst does not rate any U.S. franchise dealers as Overweight at this time.