Biglari Sardar purchased a new position in Ferrari N.V. (NYSE:RACE - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 56,400 shares of the company's stock, valued at approximately $20,997,156,000. Ferrari comprises approximately 33.7% of Biglari Sardar's investment portfolio, making the stock its biggest position.
A number of other large investors have also made changes to their positions in the business. Fideuram Asset Management Ireland dac purchased a new stake in shares of Ferrari during the 4th quarter valued at $29,000. Entrust Financial LLC acquired a new position in Ferrari during the 4th quarter valued at about $33,000. Bellevue Asset Management LLC purchased a new stake in Ferrari in the first quarter valued at about $34,000. Bamco Inc. NY boosted its holdings in Ferrari by 790.9% in the fourth quarter. Bamco Inc. NY now owns 98 shares of the company's stock worth $36,000 after acquiring an additional 87 shares in the last quarter. Finally, Dunhill Financial LLC acquired a new stake in Ferrari in the second quarter worth about $38,000.
Wall Street Analyst Weigh In
RACE has been the topic of several recent analyst reports. Needham & Company LLC upgraded shares of Ferrari to a "neutral" rating in a report on Friday, July 31st. Citigroup reissued a "neutral" rating on shares of Ferrari in a research report on Monday, August 3rd. UBS Group cut their price target on shares of Ferrari from $497.00 to $490.00 and set a "buy" rating on the stock in a research note on Friday, July 31st. Evercore reissued an "outperform" rating and set a $485.00 price objective on shares of Ferrari in a report on Friday, July 31st. Finally, Wolfe Research started coverage on Ferrari in a research note on Tuesday, July 7th. They issued an "outperform" rating for the company. Three equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Ferrari currently has an average rating of "Moderate Buy" and an average target price of $477.15.
Check Out Our Latest Research Report on Ferrari
Ferrari Price Performance
Shares of NYSE:RACE opened at $421.86 on Wednesday. Ferrari N.V. has a twelve month low of $312.51 and a twelve month high of $504.49. The company has a current ratio of 4.85, a quick ratio of 3.70 and a debt-to-equity ratio of 0.86. The company has a market cap 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's 50 day moving average is $386.88 and its 200 day moving average is $361.63.
Ferrari (NYSE:RACE - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The company reported $2.99 EPS for the quarter, beating the consensus estimate of $2.83 by $0.16. The business had revenue of $2.21 billion during the quarter, compared to analysts' expectations of $2.14 billion. Ferrari had a net margin of 22.29% and a return on equity of 42.83%. The business's quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.38 EPS. On average, sell-side analysts forecast that Ferrari N.V. will post 11.18 EPS for the current year.
Ferrari Company Profile
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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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