Biglari Capital CORP. purchased a new stake in Ferrari N.V. (NYSE:RACE - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 346,981 shares of the company's stock, valued at approximately $129,177,556,000. Ferrari makes up about 10.8% of Biglari Capital CORP.'s portfolio, making the stock its 2nd biggest position. Biglari Capital CORP. owned approximately 0.15% of Ferrari as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Benjamin Edwards Inc. raised its stake 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 period. Pacific Sun Financial Corp grew 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 valued at $489,000 after buying an additional 25 shares in the last quarter. Horizon Investments LLC grew its holdings in shares of Ferrari by 33.3% during the third quarter. Horizon Investments LLC now owns 104 shares of the company's stock valued at $50,000 after buying an additional 26 shares in the last quarter. Evergreen Capital Management LLC raised its position in Ferrari by 1.4% during the second quarter. Evergreen Capital Management LLC now owns 1,928 shares of the company's stock valued at $946,000 after buying an additional 26 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Ferrari by 14.4% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 222 shares of the company's stock valued at $108,000 after buying an additional 28 shares during the period.
Ferrari Stock Down 0.6%
RACE opened at $421.86 on Wednesday. The company has a market capitalization of $98.69 billion, a PE ratio of 39.17, a price-to-earnings-growth ratio of 3.65 and a beta of 0.91. The company has a debt-to-equity ratio of 0.86, a current ratio of 4.85 and a quick ratio of 3.70. Ferrari N.V. has a fifty-two week low of $312.51 and a fifty-two week high of $504.49. The business has a 50-day moving average of $386.88 and a 200-day moving average of $361.63.
Ferrari (NYSE:RACE - Get Free Report) last issued its quarterly earnings data on Friday, July 31st. The company reported $2.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.83 by $0.16. Ferrari had a net margin of 22.29% and a return on equity of 42.83%. The firm had revenue of $2.21 billion during the quarter, compared to analysts' expectations of $2.14 billion. During the same period in the prior year, the company posted $2.38 earnings per share. Ferrari's revenue for the quarter was up 8.4% on a year-over-year basis. Equities research analysts forecast that Ferrari N.V. will post 11.18 EPS for the current fiscal year.
Analysts Set New Price Targets
RACE has been the subject of a number of research reports. Citigroup restated a "neutral" rating on shares of Ferrari in a research report on Monday, August 3rd. Needham & Company LLC upgraded Ferrari to a "neutral" rating in a report on Friday, July 31st. Weiss Ratings reissued a "hold (c)" rating on shares of Ferrari in a research report on Wednesday, July 8th. Evercore restated an "outperform" rating and set a $485.00 price target on shares of Ferrari in a report on Friday, July 31st. Finally, Sanford C. Bernstein boosted their price objective on shares of Ferrari from $402.00 to $460.00 and gave the company an "outperform" rating in a research report on Friday, July 31st. Three investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $477.15.
View Our Latest Research Report on RACE
About Ferrari
(
Free Report)
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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