Dynamic Technology Lab Private Ltd Raises Stake in Ferrari N.V. $RACE

Key Points

• Dynamic Technology Lab Private Ltd significantly increased its holdings in Ferrari N.V. by 75.1% in Q1, acquiring an additional 1,535 shares and bringing its total to 3,580 shares worth approximately $1.5 million.
• Institutional interest in Ferrari remains high, with GW&K Investment Management increasing its stake by 288.9% and other funds also acquiring new positions during the same period.
• Recent analyst ratings for Ferrari show a consensus of seven buy ratings and a target price increase from $540 to $570, reflecting strong market confidence in the stock's performance.

Dynamic Technology Lab Private Ltd grew its holdings in Ferrari N.V. (NYSE:RACE - Free Report) by 75.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,580 shares of the company's stock after buying an additional 1,535 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in Ferrari were worth $1,532,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Baird Financial Group Inc. raised its position in Ferrari by 7.4% during the fourth quarter. Baird Financial Group Inc. now owns 12,678 shares of the company's stock worth $5,386,000 after acquiring an additional 871 shares during the period. Ethic Inc. increased its stake in shares of Ferrari by 3.5% during the fourth quarter. Ethic Inc. now owns 3,197 shares of the company's stock worth $1,358,000 after purchasing an additional 108 shares in the last quarter. Focus Partners Wealth lifted its stake in Ferrari by 10.5% in the 4th quarter. Focus Partners Wealth now owns 8,832 shares of the company's stock valued at $3,752,000 after buying an additional 841 shares in the last quarter. Jefferies Financial Group Inc. boosted its holdings in Ferrari by 113.4% in the 4th quarter. Jefferies Financial Group Inc. now owns 6,615 shares of the company's stock worth $2,825,000 after buying an additional 56,008 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Ferrari by 15.5% in the 4th quarter. Janus Henderson Group PLC now owns 91,356 shares of the company's stock worth $38,917,000 after buying an additional 12,293 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages have commented on RACE. Citigroup reissued a "sell" rating on shares of Ferrari in a report on Monday, August 11th. Deutsche Bank Aktiengesellschaft upgraded Ferrari from a "hold" rating to a "buy" rating in a report on Tuesday, September 2nd. Wall Street Zen lowered shares of Ferrari from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Royal Bank Of Canada reissued an "outperform" rating on shares of Ferrari in a research note on Monday, August 4th. Finally, UBS Group boosted their price target on shares of Ferrari from $540.00 to $570.00 and gave the stock a "buy" rating in a research report on Wednesday, September 3rd. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Ferrari currently has an average rating of "Moderate Buy" and an average price target of $531.67.

Ferrari Trading Down 1.2%

Shares of NYSE:RACE traded down $5.85 during mid-day trading on Wednesday, reaching $473.77. 321,220 shares of the company were exchanged, compared to its average volume of 418,669. Ferrari N.V. has a 1 year low of $391.54 and a 1 year high of $519.10. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.09 and a quick ratio of 3.94. The firm's 50-day simple moving average is $479.19 and its 200 day simple moving average is $466.47. The firm has a market cap of $114.83 billion, a price-to-earnings ratio of 48.89, a P/E/G ratio of 5.46 and a beta of 1.10.

Ferrari (NYSE:RACE - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $2.70 EPS for the quarter, beating the consensus estimate of $2.57 by $0.13. Ferrari had a net margin of 22.95% and a return on equity of 45.41%. The business had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same quarter last year, the firm posted $2.29 earnings per share. The business's revenue for the quarter was up 4.4% compared to the same quarter last year. Ferrari has set its FY 2025 guidance at 9.751- EPS. Equities research analysts forecast that Ferrari N.V. will post 9.22 EPS for the current year.

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.