Night Squared LP Makes New Investment in Ferrari N.V. $RACE

Key Points

• Night Squared LP acquired 2,500 shares of Ferrari N.V. in the first quarter, valued at approximately $1,070,000.
• Ferrari recently reported earnings of $2.70 per share, exceeding analysts' expectations of $2.57, with quarterly revenue up 4.4% year-over-year.
• The stock has received mixed ratings from analysts, with a consensus rating of "Moderate Buy" and an average price target of $528.33.

Night Squared LP purchased a new position in Ferrari N.V. (NYSE:RACE - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,500 shares of the company's stock, valued at approximately $1,070,000.

A number of other hedge funds also recently bought and sold shares of RACE. GW&K Investment Management LLC boosted its stake in Ferrari by 288.9% in the 1st quarter. GW&K Investment Management LLC now owns 70 shares of the company's stock worth $30,000 after purchasing an additional 52 shares in the last quarter. Park Square Financial Group LLC bought a new position in Ferrari during the 4th quarter valued at about $32,000. Alpine Bank Wealth Management bought a new position in Ferrari during the 1st quarter valued at about $33,000. Brooklyn Investment Group lifted its stake in Ferrari by 381.3% during the 1st quarter. Brooklyn Investment Group now owns 77 shares of the company's stock valued at $33,000 after acquiring an additional 61 shares during the period. Finally, Webster Bank N. A. bought a new position in Ferrari during the 1st quarter valued at about $43,000.

Ferrari Stock Performance

Ferrari stock traded up $2.20 during midday trading on Wednesday, hitting $494.28. The stock had a trading volume of 319,486 shares, compared to its average volume of 420,976. The firm's fifty day moving average is $478.88 and its two-hundred day moving average is $467.04. The company has a market capitalization of $119.80 billion, a PE ratio of 51.01, a P/E/G ratio of 5.44 and a beta of 1.10. Ferrari N.V. has a 52-week low of $391.54 and a 52-week high of $519.10. The company has a current ratio of 5.09, a quick ratio of 3.94 and a debt-to-equity ratio of 0.89.

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

Wall Street Analyst Weigh In

RACE has been the topic of several research analyst reports. UBS Group upped their target price on shares of Ferrari from $540.00 to $570.00 and gave the company a "buy" rating in a research note on Wednesday. Wall Street Zen cut shares of Ferrari from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Zacks Research cut shares of Ferrari from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 29th. Cfra Research cut shares of Ferrari from a "hold" rating to a "moderate sell" rating in a research note on Thursday, July 31st. Finally, Deutsche Bank Aktiengesellschaft raised shares of Ferrari from a "hold" rating to a "buy" rating in a research report on Tuesday. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $531.67.

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.