Focus Partners Wealth Acquires 3,769 Shares of Ferrari N.V. $RACE

Key Points

• Focus Partners Wealth increased its stake in Ferrari N.V. by 42.7%, acquiring an additional 3,769 shares during the first quarter, bringing its total holdings to 12,601 shares valued at approximately $5.39 million.
• Multiple hedge funds, including GW&K Investment Management and Brooklyn Investment Group, significantly increased their positions in Ferrari, showcasing strong investor interest and confidence in the company.
• Ferrari recently reported better-than-expected earnings per share of $2.70 for its last quarter, exceeding analyst estimates and indicating a 4.4% year-over-year revenue growth.

Focus Partners Wealth boosted its holdings in Ferrari N.V. (NYSE:RACE - Free Report) by 42.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,601 shares of the company's stock after acquiring an additional 3,769 shares during the quarter. Focus Partners Wealth's holdings in Ferrari were worth $5,392,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. GW&K Investment Management LLC increased its position in shares of 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 in the last quarter. Park Square Financial Group LLC acquired a new stake in shares of Ferrari during the 4th quarter worth about $32,000. Alpine Bank Wealth Management acquired a new stake in shares of Ferrari during the 1st quarter worth about $33,000. Brooklyn Investment Group increased its position in shares of Ferrari by 381.3% during the 1st quarter. Brooklyn Investment Group now owns 77 shares of the company's stock worth $33,000 after purchasing an additional 61 shares in the last quarter. Finally, Webster Bank N. A. acquired a new stake in shares of Ferrari during the 1st quarter worth about $43,000.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RACE. Zacks Research cut shares of Ferrari from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 29th. Deutsche Bank Aktiengesellschaft upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a research report on Tuesday, September 2nd. Cfra Research cut shares of Ferrari from a "hold" rating to a "moderate sell" rating in a research report on Thursday, July 31st. UBS Group increased their target price 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. Finally, Royal Bank Of Canada restated an "outperform" rating on shares of Ferrari in a research report on Monday, August 4th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $531.67.

Ferrari Stock Down 0.3%

Shares of NYSE:RACE opened at $477.89 on Monday. Ferrari N.V. has a one year low of $391.54 and a one year high of $519.10. The company has a 50 day moving average of $478.37 and a 200-day moving average of $466.15. 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 stock has a market cap of $115.83 billion, a price-to-earnings ratio of 49.32, a P/E/G ratio of 5.45 and a beta of 1.09.

Ferrari (NYSE:RACE - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $2.70 EPS for the quarter, topping 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 company had revenue of $2.12 billion during the quarter, compared to analysts' expectations of $2.05 billion. During the same quarter in the previous year, the company earned $2.29 EPS. Ferrari's revenue was up 4.4% on a year-over-year basis. Ferrari has set its FY 2025 guidance at 9.751- EPS. On average, sell-side analysts forecast that Ferrari N.V. will post 9.22 earnings per share for the current year.

Ferrari Profile

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.

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