748 Shares in Ferrari N.V. $RACE Bought by Denali Advisors LLC

Key Points

• Denali Advisors LLC has acquired 748 shares of Ferrari N.V. valued at approximately $367,000, signaling institutional interest in the company.
• Ferrari's recent earnings report showed an EPS of $2.70, exceeding estimates, and a revenue increase of 4.4% year-over-year, with an average target price from analysts currently set at $505.50.
• The stock has experienced significant rating changes, with two analysts upgrading it to a Strong Buy and ten giving it a Buy rating, indicating positive outlook among market analysts.

Denali Advisors LLC bought a new position in shares of Ferrari N.V. (NYSE:RACE - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 748 shares of the company's stock, valued at approximately $367,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. GW&K Investment Management LLC boosted its stake in 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 acquiring an additional 52 shares in the last quarter. GAMMA Investing LLC boosted its stake in Ferrari by 41.2% during the second quarter. GAMMA Investing LLC now owns 72 shares of the company's stock worth $35,000 after acquiring an additional 21 shares in the last quarter. Alpine Bank Wealth Management bought a new position in Ferrari during the first quarter worth $33,000. Brooklyn Investment Group boosted its stake in Ferrari by 381.3% during the first quarter. Brooklyn Investment Group now owns 77 shares of the company's stock worth $33,000 after acquiring an additional 61 shares in the last quarter. Finally, Centerpoint Advisors LLC bought a new position in Ferrari during the first quarter worth $43,000.

Analyst Ratings Changes

RACE has been the topic of several research analyst reports. Royal Bank Of Canada reissued an "outperform" rating on shares of Ferrari in a research note on Monday, August 4th. UBS Group cut their target price on shares of Ferrari from $579.00 to $529.00 and set a "buy" rating on the stock in a research note on Thursday, October 16th. HSBC raised shares of Ferrari from a "hold" rating to a "buy" rating and set a $470.00 price objective on the stock in a research note on Thursday, October 2nd. Cfra Research lowered shares of Ferrari from a "hold" rating to a "moderate sell" rating in a research note on Thursday, July 31st. Finally, Hsbc Global Res raised shares of Ferrari from a "hold" rating to a "strong-buy" rating in a research note on Thursday, October 2nd. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $505.50.

Ferrari Stock Performance

Shares of RACE stock opened at $402.96 on Friday. The firm has a 50-day moving average of $461.02 and a 200-day moving average of $467.77. The company has a market cap of $97.67 billion, a P/E ratio of 41.59, a P/E/G ratio of 4.18 and a beta of 1.08. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.09 and a quick ratio of 3.94. Ferrari N.V. has a one year low of $372.31 and a one year high of $519.10.

Ferrari (NYSE:RACE - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $2.70 EPS for the quarter, beating the consensus estimate of $2.57 by $0.13. The company had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.05 billion. Ferrari had a net margin of 22.95% and a return on equity of 45.41%. The firm's revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.29 earnings per share. Ferrari has set its FY 2025 guidance at 9.751- EPS. Equities research analysts forecast 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.

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