Barings LLC Buys 19,616 Shares of Ferrari N.V. $RACE

Key Points

• Barings LLC significantly increased its Ferrari stake in the first quarter, buying 19,616 additional shares and boosting its holdings by 823.5% to 21,998 shares worth about $7.35 million.
• Ferrari remains broadly favored by Wall Street, with recent ratings including buy and outperform calls; the stock currently has a consensus rating of “Moderate Buy” and an average price target of $471.97.
• Ferrari shares were trading at $382.59, giving the luxury automaker a market cap of $89.51 billion, with the stock sitting below its 12-month high of $519.10 but above its 12-month low of $312.51.

Barings LLC boosted its stake in Ferrari N.V. (NYSE:RACE - Free Report) by 823.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,998 shares of the company's stock after buying an additional 19,616 shares during the quarter. Barings LLC's holdings in Ferrari were worth $7,347,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Benjamin Edwards Inc. lifted its holdings in Ferrari by 3.7% during the 2nd quarter. Benjamin Edwards Inc. now owns 613 shares of the company's stock valued at $299,000 after purchasing an additional 22 shares during the last quarter. Pacific Sun Financial Corp increased its holdings 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 buying an additional 25 shares in the last quarter. Horizon Investments LLC raised its stake in shares of Ferrari by 33.3% in the third quarter. Horizon Investments LLC now owns 104 shares of the company's stock valued at $50,000 after acquiring an additional 26 shares during the last quarter. Evergreen Capital Management LLC raised its stake in shares of Ferrari by 1.4% in the second quarter. Evergreen Capital Management LLC now owns 1,928 shares of the company's stock valued at $946,000 after acquiring an additional 26 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Ferrari by 14.4% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 222 shares of the company's stock worth $108,000 after acquiring an additional 28 shares in the last quarter.

Ferrari Price Performance

Shares of RACE stock opened at $382.59 on Friday. The firm has a market cap of $89.51 billion, a price-to-earnings ratio of 36.71, a PEG 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 company has a quick ratio of 4.08, a current ratio of 5.20 and a debt-to-equity ratio of 0.72. The stock has a 50-day moving average price of $355.46 and a 200 day moving average price of $352.45.

Analyst Upgrades and Downgrades

RACE has been the topic of a number of recent analyst reports. Sanford C. Bernstein reissued an "outperform" rating on shares of Ferrari in a research note on Tuesday, June 2nd. UBS Group lifted their price target on Ferrari from $483.00 to $497.00 and gave the company a "buy" rating in a report on Thursday, July 2nd. Wolfe Research assumed coverage on shares of Ferrari in a research report on Tuesday, July 7th. They set an "outperform" rating on the stock. Jefferies Financial Group raised shares of Ferrari from a "hold" rating to a "buy" rating in a report on Tuesday, March 31st. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Ferrari in a research report on Wednesday, July 8th. Three analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, Ferrari currently has a consensus rating of "Moderate Buy" and an average target price of $471.97.

Ferrari Profile

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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