Mediolanum International Funds Ltd Acquires 4,937 Shares of Ferrari N.V. (NYSE:RACE)

Key Points

• Mediolanum International Funds Ltd increased its stake in Ferrari N.V. by 54.4%, owning 14,008 shares valued at $6.09 million as of its most recent SEC filing.
• Ferrari reported a quarterly earnings per share of $2.42, exceeding analysts' expectations, with revenue of $1.94 billion, marking a 13% increase compared to the previous year.
• Several analysts updated their ratings on Ferrari's stock, with UBS Group raising the price target from $520.00 to $560.00, reflecting a consensus rating of "Moderate Buy".

Mediolanum International Funds Ltd lifted its holdings in Ferrari N.V. (NYSE:RACE - Free Report) by 54.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,008 shares of the company's stock after purchasing an additional 4,937 shares during the period. Mediolanum International Funds Ltd's holdings in Ferrari were worth $6,089,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in RACE. American Century Companies Inc. increased its position in shares of Ferrari by 11.5% in the fourth quarter. American Century Companies Inc. now owns 6,239 shares of the company's stock worth $2,651,000 after acquiring an additional 642 shares in the last quarter. LPL Financial LLC boosted its holdings in shares of Ferrari by 18.8% during the fourth quarter. LPL Financial LLC now owns 43,792 shares of the company's stock worth $18,605,000 after purchasing an additional 6,930 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Ferrari by 62.4% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 19,692 shares of the company's stock worth $8,451,000 after purchasing an additional 7,563 shares during the period. Level Four Advisory Services LLC boosted its holdings in shares of Ferrari by 9.0% during the fourth quarter. Level Four Advisory Services LLC now owns 2,061 shares of the company's stock worth $876,000 after purchasing an additional 170 shares during the period. Finally, Brown Brothers Harriman & Co. boosted its holdings in shares of Ferrari by 0.9% during the fourth quarter. Brown Brothers Harriman & Co. now owns 7,709 shares of the company's stock worth $3,275,000 after purchasing an additional 71 shares during the period.

Ferrari Stock Performance

NYSE:RACE traded down $8.18 during mid-day trading on Wednesday, hitting $497.24. 222,426 shares of the company's stock traded hands, compared to its average volume of 398,246. Ferrari N.V. has a 12 month low of $391.54 and a 12 month high of $519.10. The firm has a 50 day moving average of $485.78 and a two-hundred day moving average of $464.32. The firm has a market capitalization of $120.52 billion, a price-to-earnings ratio of 52.63, a price-to-earnings-growth ratio of 5.56 and a beta of 1.09. The company has a current ratio of 5.09, a quick ratio of 4.04 and a debt-to-equity ratio of 0.93.

Ferrari (NYSE:RACE - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.06. Ferrari had a net margin of 23.00% and a return on equity of 46.46%. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period last year, the business posted $1.95 EPS. The business's quarterly revenue was up 13.0% on a year-over-year basis. On average, equities analysts forecast that Ferrari N.V. will post 9.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RACE has been the subject of several research reports. UBS Group raised their price target on shares of Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Wall Street Zen cut shares of Ferrari from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $526.25.

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.