Macquarie Group Ltd. cut its holdings in shares of Ferrari N.V. (NYSE:RACE) by 16.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 71,758 shares of the company’s stock after selling 13,951 shares during the quarter. Macquarie Group Ltd.’s holdings in Ferrari N.V. were worth $6,173,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of RACE. Vanguard Group Inc. boosted its stake in Ferrari N.V. by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 3,144,415 shares of the company’s stock valued at $270,483,000 after purchasing an additional 39,530 shares during the period. Credit Suisse AG boosted its stake in Ferrari N.V. by 44.4% in the 1st quarter. Credit Suisse AG now owns 1,038,800 shares of the company’s stock valued at $77,246,000 after purchasing an additional 319,185 shares during the period. AQR Capital Management LLC lifted its position in shares of Ferrari N.V. by 272.9% during the 1st quarter. AQR Capital Management LLC now owns 934,215 shares of the company’s stock valued at $69,693,000 after acquiring an additional 683,686 shares during the period. Bank of America Corp DE lifted its position in shares of Ferrari N.V. by 4.3% during the 1st quarter. Bank of America Corp DE now owns 896,521 shares of the company’s stock valued at $66,665,000 after acquiring an additional 36,852 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Ferrari N.V. by 124.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 811,847 shares of the company’s stock valued at $69,836,000 after acquiring an additional 449,795 shares during the period. 29.79% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have recently weighed in on RACE. Zacks Investment Research upgraded Ferrari N.V. from a “hold” rating to a “buy” rating and set a $112.00 target price for the company in a research report on Saturday, July 22nd. UBS AG reissued a “buy” rating and set a $125.00 price target (up previously from $100.00) on shares of Ferrari N.V. in a report on Wednesday, August 9th. Goldman Sachs Group, Inc. (The) began coverage on Ferrari N.V. in a report on Wednesday, September 13th. They set a “neutral” rating and a $131.00 price target for the company. TheStreet raised Ferrari N.V. from a “c” rating to a “b-” rating in a report on Friday, October 20th. Finally, Evercore ISI upped their target price on Ferrari N.V. from $46.00 to $105.00 and gave the stock an “in-line” rating in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $109.86.
Shares of Ferrari N.V. (NYSE RACE) opened at 115.95 on Friday. Ferrari N.V. has a 12 month low of $50.39 and a 12 month high of $118.10. The company’s 50 day moving average price is $113.00 and its 200 day moving average price is $97.66. The company has a market cap of $21.91 billion, a price-to-earnings ratio of 37.83 and a beta of 1.70.
Ferrari N.V. (NYSE:RACE) last posted its earnings results on Wednesday, August 2nd. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.13. Ferrari N.V. had a net margin of 14.43% and a return on equity of 128.49%. The company had revenue of $1.01 billion during the quarter. On average, equities analysts expect that Ferrari N.V. will post $3.19 EPS for the current fiscal year.
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Ferrari N.V. Profile
Ferrari NV, known as New Business Netherlands NV, is an Italy-based company, incorporated in the Netherlands, that is engaged in designing, manufacturing and selling sports cars under the Ferrari brand. Its products include nine sports car models, including seven sports cars: 458 Italia, 488 GTB, 458 Spider, 488 Spider, F12 Berlinetta, 458 Speciale and 458 Speciale A; as well as two grand tourer (GT) cars: California T and FF.
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