Baader Bank Aktiengesellschaft Increases Stock Holdings in Ferrari N.V. $RACE

Key Points

• Baader Bank Aktiengesellschaft increased its holdings in Ferrari N.V. by 68.5%, owning 3,421 shares worth $1,678,000 after acquiring an additional 1,391 shares in the second quarter.
• A number of hedge funds have also raised their positions in Ferrari, with Squarepoint Ops LLC increasing its holdings by 129.3% in the fourth quarter.
• Research analysts show positive sentiment towards Ferrari, with eight analysts giving a “Buy” rating, while the average target price is set at $531.67.

Baader Bank Aktiengesellschaft lifted its holdings in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 68.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,421 shares of the company's stock after acquiring an additional 1,391 shares during the quarter. Baader Bank Aktiengesellschaft's holdings in Ferrari were worth $1,678,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GW&K Investment Management LLC grew its stake in Ferrari by 288.9% in 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. Park Square Financial Group LLC purchased a new stake in shares of Ferrari in the fourth quarter worth $32,000. Alpine Bank Wealth Management purchased a new stake in shares of Ferrari in the first quarter worth $33,000. Brooklyn Investment Group grew its stake in shares of Ferrari by 381.3% in the first quarter. Brooklyn Investment Group now owns 77 shares of the company's stock worth $33,000 after acquiring an additional 61 shares during the last quarter. Finally, Webster Bank N. A. bought a new position in shares of Ferrari during the first quarter valued at $43,000.

Ferrari Stock Performance

RACE stock traded down $3.94 during trading on Friday, reaching $479.83. The stock had a trading volume of 456,640 shares, compared to its average volume of 280,396. Ferrari N.V. has a 52 week low of $391.54 and a 52 week high of $519.10. The stock's 50 day moving average is $477.14 and its two-hundred day moving average is $466.65. The company has a current ratio of 5.09, a quick ratio of 3.94 and a debt-to-equity ratio of 0.89. The firm has a market cap of $116.30 billion, a PE ratio of 49.52, a PEG ratio of 5.51 and a beta of 1.10.

Ferrari (NYSE:RACE - Get Free Report) last posted 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. Ferrari had a return on equity of 45.41% and a net margin of 22.95%.The company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the prior year, the company earned $2.29 earnings per share. Ferrari's revenue was up 4.4% on a year-over-year basis. Ferrari has set its FY 2025 guidance at 9.751- EPS. As a group, equities analysts anticipate that Ferrari N.V. will post 9.22 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RACE. UBS Group upped their price target on Ferrari from $540.00 to $570.00 and gave the company a "buy" rating in a report on Wednesday, September 3rd. Cfra Research downgraded Ferrari from a "hold" rating to a "moderate sell" rating in a report on Thursday, July 31st. Citigroup reaffirmed a "sell" rating on shares of Ferrari in a report on Monday, August 11th. Deutsche Bank Aktiengesellschaft raised Ferrari from a "hold" rating to a "buy" rating in a report on Tuesday, September 2nd. Finally, Zacks Research downgraded Ferrari from a "strong-buy" rating to a "hold" rating in a report on Friday, August 29th. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.