Ferrari N.V. $RACE Shares Sold by Gateway Investment Advisers LLC

Key Points

• Gateway Investment Advisers LLC reduced its stake in Ferrari N.V. by 40.1% during Q2, now holding 2,490 shares valued at approximately $1.22 million.
• Several institutional investors also adjusted their positions, with new investments totaling around $1.86 million in the same period.
• Analyst ratings for Ferrari vary, with eight analysts

Gateway Investment Advisers LLC cut its position in Ferrari N.V. (NYSE:RACE - Free Report) by 40.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,490 shares of the company's stock after selling 1,666 shares during the period. Gateway Investment Advisers LLC's holdings in Ferrari were worth $1,222,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. GW&K Investment Management LLC increased its position in shares of Ferrari by 288.9% in the 1st quarter. GW&K Investment Management LLC now owns 70 shares of the company's stock valued at $30,000 after purchasing an additional 52 shares during the last quarter. Park Square Financial Group LLC purchased a new position in shares of Ferrari in the 4th quarter valued at $32,000. Alpine Bank Wealth Management purchased a new position in shares of Ferrari in the 1st quarter valued at $33,000. Brooklyn Investment Group grew its position in shares of Ferrari by 381.3% in the 1st quarter. Brooklyn Investment Group now owns 77 shares of the company's stock valued at $33,000 after buying an additional 61 shares during the last quarter. Finally, Webster Bank N. A. purchased a new position in shares of Ferrari in the 1st quarter valued at $43,000.

Analyst Ratings Changes

RACE has been the topic of a number of recent analyst reports. Zacks Research downgraded shares of Ferrari from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 29th. Berenberg Bank initiated coverage on shares of Ferrari in a research report on Tuesday, September 16th. They issued a "buy" rating on the stock. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Ferrari in a research report on Monday, August 4th. Cfra Research downgraded shares of Ferrari from a "hold" rating to a "moderate sell" rating in a research report on Thursday, July 31st. Finally, Citigroup reissued a "sell" rating on shares of Ferrari in a research report on Monday, August 11th. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $531.67.

Ferrari Stock Down 0.8%

Shares of NYSE RACE traded down $3.94 during trading on Friday, reaching $479.83. 456,640 shares of the stock were exchanged, compared to its average volume of 280,396. The business's 50-day moving average price is $477.14 and its 200 day moving average price is $466.71. Ferrari N.V. has a twelve month low of $391.54 and a twelve month high of $519.10. The company has a quick ratio of 3.94, a current ratio of 5.09 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $116.30 billion, a price-to-earnings ratio of 49.52, a price-to-earnings-growth ratio of 5.46 and a beta of 1.10.

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