Silphium Asset Management Ltd Lowers Stake in Ferrari N.V. $RACE

Silphium Asset Management Ltd decreased its position in Ferrari N.V. (NYSE:RACE) by 7.4% in the second quarter, Holdings Channel reports. The firm owned 7,520 shares of the company’s stock after selling 603 shares during the period. Ferrari accounts for 1.3% of Silphium Asset Management Ltd’s investment portfolio, making the stock its 26th largest holding. Silphium Asset Management Ltd’s holdings in Ferrari were worth $3,690,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in Ferrari by 41.2% during the second quarter. GAMMA Investing LLC now owns 72 shares of the company’s stock valued at $35,000 after buying an additional 21 shares during the period. Creekmur Asset Management LLC lifted its position in Ferrari by 660.0% during the 2nd quarter. Creekmur Asset Management LLC now owns 76 shares of the company’s stock worth $37,000 after acquiring an additional 66 shares during the period. Brooklyn Investment Group raised its position in Ferrari by 381.3% during the 1st quarter. Brooklyn Investment Group now owns 77 shares of the company’s stock worth $33,000 after buying an additional 61 shares during the last quarter. Centerpoint Advisors LLC purchased a new stake in shares of Ferrari in the first quarter worth about $43,000. Finally, Gordian Capital Singapore Pte Ltd grew its holdings in 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 acquiring an additional 30 shares during the period.

Ferrari Stock Up 0.9%

Shares of NYSE:RACE opened at $384.99 on Wednesday. The company has a current ratio of 4.90, a quick ratio of 3.78 and a debt-to-equity ratio of 0.76. The business has a 50-day moving average price of $426.63 and a 200 day moving average price of $460.86. Ferrari N.V. has a 12-month low of $372.31 and a 12-month high of $519.10. The company has a market capitalization of $93.31 billion, a price-to-earnings ratio of 38.89, a PEG ratio of 4.04 and a beta of 1.07.

Ferrari (NYSE:RACE) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.35 by $0.15. The business had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Ferrari had a net margin of 22.65% and a return on equity of 44.20%. Ferrari has set its FY 2025 guidance at 10.290- EPS. Sell-side analysts expect that Ferrari N.V. will post 9.22 EPS for the current year.

Analysts Set New Price Targets

Several research firms have commented on RACE. JPMorgan Chase & Co. lowered their price objective on Ferrari from $460.00 to $457.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 12th. HSBC raised Ferrari from a “hold” rating to a “buy” rating and set a $470.00 price target for the company in a report on Thursday, October 2nd. Citigroup decreased their target price on Ferrari from $579.00 to $529.00 and set a “buy” rating on the stock in a research report on Thursday, October 16th. Hsbc Global Res raised shares of Ferrari from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Tuesday, September 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Ferrari presently has an average rating of “Buy” and an average price target of $498.00.

Ferrari Company Profile

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.