Ghisallo Capital Management LLC Takes $6.24 Million Position in Ferrari N.V. $RACE

Key Points

• Ghisallo Capital Management LLC acquired a new stake in Ferrari N.V., purchasing 14,706 shares valued at approximately $6.24 million, highlighting growing interest in the luxury automaker.
• Several other institutional investors increased their positions in Ferrari, including Schonfeld Strategic Advisors LLC, which boosted its holdings by over 111% during the fourth quarter.
• Analysts have mixed views on Ferrari's stock, with ratings ranging from "buy" to "sell," and a consensus target price of $528.33 according to MarketBeat.com.

Ghisallo Capital Management LLC purchased a new position in Ferrari N.V. (NYSE:RACE - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 14,706 shares of the company's stock, valued at approximately $6,239,000.

Several other large investors have also bought and sold shares of the business. GW&K Investment Management LLC boosted its stake in shares of Ferrari by 288.9% during the first 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 in the last quarter. Park Square Financial Group LLC acquired a new stake in shares of Ferrari during the fourth quarter valued at about $32,000. Alpine Bank Wealth Management acquired a new stake in shares of Ferrari during the first quarter valued at about $33,000. Brooklyn Investment Group lifted its stake in shares of Ferrari by 381.3% in the first quarter. Brooklyn Investment Group now owns 77 shares of the company's stock worth $33,000 after acquiring an additional 61 shares during the period. Finally, Webster Bank N. A. acquired a new position in shares of Ferrari in the first quarter worth approximately $43,000.

Wall Street Analysts Forecast Growth

RACE has been the topic of a number of recent analyst reports. Cfra Research lowered Ferrari from a "hold" rating to a "moderate sell" rating in a research note on Thursday, July 31st. Citigroup reissued a "sell" rating on shares of Ferrari in a research note on Monday, August 11th. UBS Group boosted their price target on Ferrari from $540.00 to $570.00 and gave the company a "buy" rating in a research note on Wednesday. Wall Street Zen lowered Ferrari from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Finally, Deutsche Bank Aktiengesellschaft raised Ferrari from a "hold" rating to a "buy" rating in a research note on Tuesday. 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 company's stock. According to MarketBeat, Ferrari has an average rating of "Moderate Buy" and an average target price of $531.67.

Ferrari Price Performance

RACE traded up $0.98 during trading on Thursday, reaching $495.80. 330,894 shares of the company were exchanged, compared to its average volume of 420,053. The company's 50-day moving average is $479.27 and its two-hundred day moving average is $467.22. The company has a market cap of $120.17 billion, a price-to-earnings ratio of 51.17, a P/E/G ratio of 5.44 and a beta of 1.10. The company has a quick ratio of 3.94, a current ratio of 5.09 and a debt-to-equity ratio of 0.89. Ferrari N.V. has a 12-month low of $391.54 and a 12-month high of $519.10.

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

Ferrari Company 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.