Callan Family Office LLC Boosts Stake in Ferrari N.V. (NYSE:RACE)

Key Points

• Callan Family Office LLC increased its stake in Ferrari N.V. by 146.3% during the first quarter, now holding 2,763 shares valued at approximately $1.18 million.
• Several institutional investors have also increased their positions, with GW&K Investment Management boosting its stake by 288.9%.
• Ferrari reported earnings of $2.70 per share for the last quarter, surpassing estimates, and achieved a revenue increase of 4.4% year-over-year.

Callan Family Office LLC increased its stake in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 146.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,763 shares of the company's stock after buying an additional 1,641 shares during the quarter. Callan Family Office LLC's holdings in Ferrari were worth $1,182,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. GW&K Investment Management LLC raised its position in Ferrari by 288.9% during the 1st 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 last quarter. Park Square Financial Group LLC bought a new position in shares of Ferrari in the 4th quarter worth about $32,000. Alpine Bank Wealth Management bought a new position in shares of Ferrari in the 1st quarter worth about $33,000. Webster Bank N. A. bought a new position in shares of Ferrari in the 1st quarter worth about $43,000. Finally, Cornerstone Planning Group LLC raised its position in shares of Ferrari by 140.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 101 shares of the company's stock worth $45,000 after acquiring an additional 59 shares in the last quarter.

Ferrari Stock Performance

Shares of RACE stock traded down $4.01 during trading hours on Friday, hitting $460.42. 314,075 shares of the company were exchanged, compared to its average volume of 429,697. The firm has a fifty day simple moving average of $478.28 and a 200 day simple moving average of $465.62. Ferrari N.V. has a 52-week low of $391.54 and a 52-week high of $519.10. The stock has a market capitalization of $111.60 billion, a price-to-earnings ratio of 47.52, a P/E/G ratio of 4.88 and a beta of 1.09. The company has a current ratio of 5.09, a quick ratio of 3.94 and a debt-to-equity ratio of 0.89.

Ferrari (NYSE:RACE - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $2.70 earnings per share (EPS) 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 business had revenue of $2.12 billion for the quarter, compared to analysts' expectations of $2.05 billion. During the same period in the previous year, the business posted $2.29 EPS. The firm's quarterly revenue was up 4.4% compared to the same quarter last year. Research analysts predict that Ferrari N.V. will post 9.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RACE. Wall Street Zen downgraded Ferrari from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Royal Bank Of Canada restated an "outperform" rating on shares of Ferrari in a research note on Monday, August 4th. UBS Group raised their target price on Ferrari from $520.00 to $560.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Cfra Research downgraded Ferrari from a "hold" rating to a "moderate sell" rating in a research note on Thursday, July 31st. Finally, Citigroup reiterated a "sell" rating on shares of Ferrari in a research note on Monday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $526.25.

About Ferrari

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.