AlpenGlobal Capital LLC Makes New $4.03 Million Investment in Ferrari N.V. $RACE

Key Points

• AlpenGlobal Capital LLC disclosed a new stake in Ferrari during the first quarter, buying 11,902 shares worth about $4.03 million. The position represents roughly 2.6% of its portfolio and is its 15th largest holding.
• Several major investment firms also increased their Ferrari holdings recently, while analysts remain broadly constructive on the stock. Ferrari now has a Moderate Buy consensus rating with an average price target of $471.97.
• Ferrari shares were up 0.6% and opened at $376.78, with the company carrying a market cap of $88.15 billion. News flow was mixed, with positive F1-related coverage supporting sentiment but some reports pointing to ongoing performance issues in racing.

AlpenGlobal Capital LLC acquired a new stake in Ferrari N.V. (NYSE:RACE - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,902 shares of the company's stock, valued at approximately $4,028,000. Ferrari accounts for about 2.6% of AlpenGlobal Capital LLC's investment portfolio, making the stock its 15th biggest position.

Several other large investors have also recently bought and sold shares of RACE. Benjamin Edwards Inc. boosted its holdings in shares of Ferrari by 3.7% during the second quarter. Benjamin Edwards Inc. now owns 613 shares of the company's stock worth $299,000 after acquiring an additional 22 shares during the period. Pacific Sun Financial Corp increased its stake in shares of Ferrari by 2.5% during the third quarter. Pacific Sun Financial Corp now owns 1,008 shares of the company's stock worth $489,000 after purchasing an additional 25 shares during the period. Horizon Investments LLC lifted its holdings in Ferrari by 33.3% during the 3rd quarter. Horizon Investments LLC now owns 104 shares of the company's stock worth $50,000 after purchasing an additional 26 shares during the last quarter. Evergreen Capital Management LLC lifted its holdings in Ferrari by 1.4% during the 2nd quarter. Evergreen Capital Management LLC now owns 1,928 shares of the company's stock worth $946,000 after purchasing an additional 26 shares during the last quarter. Finally, Enhancing Capital LLC boosted its stake in Ferrari by 1.6% in the 3rd quarter. Enhancing Capital LLC now owns 1,808 shares of the company's stock valued at $877,000 after purchasing an additional 28 shares during the period.

Key Headlines Impacting Ferrari

Here are the key news stories impacting Ferrari this week:

• Positive Sentiment: Mercedes boss Toto Wolff said Ferrari could challenge Mercedes for the rest of the F1 season, a comment that may boost sentiment around Ferrari’s competitive outlook and brand visibility. Toto Wolff warns Ferrari will challenge Mercedes for 'rest of the F1 season'
• Positive Sentiment: Ferrari’s Madrid track filming day and its data-gathering efforts ahead of rivals highlight ongoing F1 development, which can support enthusiasm around the team’s performance momentum. First look: Ferrari gives Madrid track its F1 debut on filming day Ferrari begins gathering what could be crucial data ahead of its F1 rivals
• Neutral Sentiment: Several articles covered Ferrari cars in drag races and enthusiast content, which may help brand exposure but is unlikely to materially affect the stock. Is the Ferrari Pista faster than the Ferrari F8 Tributo in drag race? Lamborghini Revuelto faces Ferrari 296 GTB in drag race
• Negative Sentiment: An article on Ferrari’s Austria engine upgrade said the race exposed problems the update could not fix, which could weigh on sentiment if investors view it as a sign of persistent performance issues in F1. Ferrari brought an engine upgrade to Austria - then the race exposed everything it could not fix
• Negative Sentiment: Coverage of a Ferrari race car crash at Watkins Glen and a classic Mini destroying a tuned Ferrari in a drag race may be mildly negative for brand optics, though likely limited in financial impact. Ferrari race car crash at Watkins Glen during 130 mph run Classic Mini Destroys Tuned Ferrari 488 In Wild Drag Race Battle

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Wolfe Research initiated coverage on Ferrari in a research report on Tuesday. They set an "outperform" rating on the stock. UBS Group upped their price target on shares of Ferrari from $483.00 to $497.00 and gave the stock a "buy" rating in a report on Thursday, July 2nd. Jefferies Financial Group raised Ferrari from a "hold" rating to a "buy" rating in a research note on Tuesday, March 31st. Sanford C. Bernstein reiterated an "outperform" rating on shares of Ferrari in a research note on Tuesday, June 2nd. Finally, Morgan Stanley raised Ferrari from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $388.00 to $438.00 in a report on Monday, June 15th. Three research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $471.97.

Ferrari Stock Up 0.6%

Shares of NYSE:RACE opened at $376.78 on Friday. The firm has a market cap of $88.15 billion, a P/E ratio of 36.16, a P/E/G ratio of 3.22 and a beta of 0.92. Ferrari N.V. has a 12-month low of $312.51 and a 12-month high of $519.10. The business has a fifty day simple moving average of $352.36 and a 200 day simple moving average of $352.64. The company has a quick ratio of 4.08, a current ratio of 5.20 and a debt-to-equity ratio of 0.72.

About Ferrari

Ferrari N.V. NYSE: RACE is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company's core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.

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