MQS Management LLC Acquires Shares of 575 Ferrari N.V. $RACE

MQS Management LLC acquired a new stake in Ferrari N.V. (NYSE:RACE) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 575 shares of the company’s stock, valued at approximately $282,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. GW&K Investment Management LLC increased its stake in shares of Ferrari by 288.9% during the first quarter. GW&K Investment Management LLC now owns 70 shares of the company’s stock worth $30,000 after purchasing an additional 52 shares during the period. Brooklyn Investment Group increased its stake in shares of Ferrari by 381.3% during the first quarter. Brooklyn Investment Group now owns 77 shares of the company’s stock worth $33,000 after purchasing an additional 61 shares during the period. GAMMA Investing LLC increased its stake in shares of Ferrari by 41.2% during the second quarter. GAMMA Investing LLC now owns 72 shares of the company’s stock worth $35,000 after purchasing an additional 21 shares during the period. Centerpoint Advisors LLC bought a new position in shares of Ferrari during the first quarter worth approximately $43,000. Finally, Gordian Capital Singapore Pte Ltd increased its stake in shares of Ferrari by 42.9% during the first quarter. Gordian Capital Singapore Pte Ltd now owns 100 shares of the company’s stock worth $43,000 after purchasing an additional 30 shares during the period.

Analysts Set New Price Targets

RACE has been the topic of a number of recent research reports. Citigroup lowered their target price on Ferrari from $579.00 to $529.00 and set a “buy” rating on the stock in a research note on Thursday, October 16th. Cfra Research lowered Ferrari from a “hold” rating to a “moderate sell” rating in a research note on Thursday, July 31st. Royal Bank Of Canada reiterated an “outperform” rating on shares of Ferrari in a research note on Monday, August 4th. Zacks Research lowered Ferrari from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 29th. Finally, Deutsche Bank Aktiengesellschaft upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, September 2nd. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Ferrari currently has a consensus rating of “Buy” and a consensus target price of $505.50.

Ferrari Trading Down 0.2%

Shares of NYSE:RACE opened at $407.42 on Tuesday. The company has a market capitalization of $98.75 billion, a P/E ratio of 42.05, a P/E/G ratio of 4.33 and a beta of 1.08. Ferrari N.V. has a 1 year low of $372.31 and a 1 year high of $519.10. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.09 and a quick ratio of 3.94. The business’s 50 day simple moving average is $458.86 and its 200 day simple moving average is $468.40.

Ferrari (NYSE:RACE) last issued its earnings results on Thursday, July 31st. The company reported $2.70 earnings per share for the quarter, beating analysts’ consensus estimates of $2.57 by $0.13. The firm had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.05 billion. Ferrari had a return on equity of 45.41% and a net margin of 22.95%.The company’s revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.29 EPS. Ferrari has set its FY 2025 guidance at 9.751- EPS. On average, research analysts anticipate that Ferrari N.V. will post 9.22 EPS for the current fiscal year.

About Ferrari

Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.