Infusive Asset Management Inc. Sells 1,203 Shares of Ferrari N.V. $RACE

Key Points

• Infusive Asset Management Inc. has decreased its stake in Ferrari N.V. by 7.3%, selling 1,203 shares and now holding 15,208 shares valued at $6.5 million.
• Ferrari's stock recently received mixed ratings from analysts, with a consensus rating of "Moderate Buy" and a price target averaging $531.67.
• In its last quarterly earnings, Ferrari reported an EPS of $2.70, beating the consensus estimate, and had revenue growth of 4.4% year-over-year.

Infusive Asset Management Inc. cut its position in Ferrari N.V. (NYSE:RACE - Free Report) by 7.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,208 shares of the company's stock after selling 1,203 shares during the period. Ferrari comprises about 3.0% of Infusive Asset Management Inc.'s portfolio, making the stock its 11th largest position. Infusive Asset Management Inc.'s holdings in Ferrari were worth $6,507,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. GW&K Investment Management LLC raised its holdings 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 worth $30,000 after acquiring an additional 52 shares during the period. Park Square Financial Group LLC bought a new position in Ferrari in the fourth quarter valued at $32,000. Alpine Bank Wealth Management bought a new position in Ferrari in the first quarter valued at $33,000. Brooklyn Investment Group grew its position in Ferrari by 381.3% in the first quarter. Brooklyn Investment Group now owns 77 shares of the company's stock valued at $33,000 after purchasing an additional 61 shares in the last quarter. Finally, Webster Bank N. A. bought a new position in Ferrari in the first quarter valued at $43,000.

Ferrari Price Performance

Shares of NYSE:RACE traded down $6.13 during midday trading on Friday, hitting $489.06. The stock had a trading volume of 279,249 shares, compared to its average volume of 327,287. The company has a market capitalization of $118.54 billion, a P/E ratio of 50.47, a price-to-earnings-growth ratio of 5.57 and a beta of 1.09. 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's 50-day moving average price is $479.60 and its 200-day moving average price is $466.55. Ferrari N.V. has a fifty-two week low of $391.54 and a fifty-two week high of $519.10.

Ferrari (NYSE:RACE - Get Free Report) last announced 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 company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.05 billion. Ferrari had a net margin of 22.95% and a return on equity of 45.41%. The firm's revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.29 EPS. Ferrari has set its FY 2025 guidance at 9.751- EPS. As a group, equities research analysts predict that Ferrari N.V. will post 9.22 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. UBS Group lifted their price objective on shares of Ferrari from $540.00 to $570.00 and gave the company a "buy" rating in a research report on Wednesday. Royal Bank Of Canada reissued an "outperform" rating on shares of Ferrari in a research report on Monday, August 4th. Citigroup reissued a "sell" rating on shares of Ferrari in a research report on Monday, August 11th. Deutsche Bank Aktiengesellschaft raised shares of Ferrari from a "hold" rating to a "buy" rating in a research report on Tuesday, September 2nd. Finally, Cfra Research downgraded shares of Ferrari from a "hold" rating to a "moderate sell" rating in a report on Thursday, July 31st. Seven 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. According to data from MarketBeat.com, Ferrari has an average rating of "Moderate Buy" and a consensus price target of $531.67.

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.