Ferrari N.V. $RACE Shares Purchased by Kayne Anderson Rudnick Investment Management LLC

Key Points

• Kayne Anderson Rudnick Investment Management LLC increased its stake in Ferrari N.V. by 26.8% during the first quarter, bringing its total holdings to 5,153 shares valued at approximately $2.205 million.
• Several hedge funds, including First Trust Advisors LP, have also boosted their positions in Ferrari, with First Trust Advisors increasing its stake by 36.8% in the fourth quarter.
• Ferrari reported $2.70 EPS for the last quarter, exceeding expectations of $2.57, with a revenue increase of 4.4% year-over-year, totaling $2.12 billion.

Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 26.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,153 shares of the company's stock after purchasing an additional 1,088 shares during the period. Kayne Anderson Rudnick Investment Management LLC's holdings in Ferrari were worth $2,205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in RACE. Goldman Sachs Group Inc. raised its holdings in shares of Ferrari by 52.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,277,115 shares of the company's stock worth $974,332,000 after purchasing an additional 781,587 shares during the last quarter. Groupe la Francaise purchased a new position in shares of Ferrari during the first quarter worth $238,818,000. Nuveen LLC purchased a new position in shares of Ferrari during the first quarter worth $233,200,000. Vanguard Group Inc. raised its holdings in shares of Ferrari by 8.1% during the first quarter. Vanguard Group Inc. now owns 5,071,130 shares of the company's stock worth $2,165,683,000 after purchasing an additional 377,929 shares during the last quarter. Finally, Citigroup Inc. raised its holdings in shares of Ferrari by 155.1% during the first quarter. Citigroup Inc. now owns 269,862 shares of the company's stock worth $115,469,000 after purchasing an additional 164,092 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Wall Street Zen cut shares of Ferrari from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Cfra Research lowered shares of Ferrari from a "hold" rating to a "moderate sell" rating in a research report on Thursday, July 31st. Royal Bank Of Canada restated an "outperform" rating on shares of Ferrari in a research report on Monday, August 4th. UBS Group raised their price target on shares of Ferrari from $520.00 to $560.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Finally, Citigroup restated a "sell" rating on shares of Ferrari in a research report on Monday, August 11th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $528.33.

Ferrari Price Performance

Shares of NYSE RACE traded down $1.04 during trading on Friday, hitting $477.95. The company had a trading volume of 186,867 shares, compared to its average volume of 501,894. The stock has a fifty day simple moving average of $478.16 and a two-hundred day simple moving average of $467.21. Ferrari N.V. has a fifty-two week low of $391.54 and a fifty-two week high of $519.10. The firm has a market capitalization of $115.84 billion, a price-to-earnings ratio of 49.32, a price-to-earnings-growth ratio of 5.16 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.

Ferrari (NYSE:RACE - Get Free Report) last announced its 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. Ferrari had a net margin of 22.95% and a return on equity of 45.41%. The business had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same quarter last year, the business earned $2.29 earnings per share. The company'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. On average, research analysts expect that Ferrari N.V. will post 9.22 earnings per share for the current 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.