MetLife Investment Management LLC Sells 1,726 Shares of Ferrari N.V. $RACE

Key Points

• MetLife Investment Management LLC reduced its stake in Ferrari N.V. by 11.7%, now holding 13,054 shares after selling 1,726 shares in the first quarter.
• Institutional investors like Vanguard Group and Goldman Sachs increased their positions in Ferrari, with Goldman Sachs raising its stake by 52.3%.
• Analysts have set a consensus price target of $528.33 for Ferrari shares, with ratings ranging from "buy" to "sell" based on recent reports.

MetLife Investment Management LLC trimmed its holdings in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 11.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,054 shares of the company's stock after selling 1,726 shares during the period. MetLife Investment Management LLC's holdings in Ferrari were worth $5,555,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings 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 purchasing an additional 52 shares during the period. Park Square Financial Group LLC acquired a new stake in shares of Ferrari during the fourth quarter worth $32,000. Alpine Bank Wealth Management acquired a new stake in shares of Ferrari during the first quarter worth $33,000. Brooklyn Investment Group raised its holdings in shares of Ferrari by 381.3% during the first quarter. Brooklyn Investment Group now owns 77 shares of the company's stock worth $33,000 after purchasing an additional 61 shares during the period. Finally, Webster Bank N. A. acquired a new stake in shares of Ferrari during the first quarter worth $43,000.

Analyst Ratings Changes

A number of brokerages have weighed in on RACE. Citigroup reissued a "sell" rating on shares of Ferrari in a report on Monday, August 11th. Cfra Research cut shares of Ferrari from a "hold" rating to a "moderate sell" rating in a report on Thursday, July 31st. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Ferrari in a report on Monday, August 4th. UBS Group increased their price objective on shares of Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Finally, Wall Street Zen cut shares of Ferrari from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Ferrari presently has an average rating of "Moderate Buy" and a consensus target price of $528.33.

Ferrari Stock Down 0.2%

Shares of RACE stock traded down $1.04 during trading on Friday, hitting $477.95. 186,867 shares of the company were exchanged, compared to its average volume of 427,336. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.94 and a current ratio of 5.09. The firm has a market capitalization of $115.84 billion, a price-to-earnings ratio of 49.32, a P/E/G ratio of 5.44 and a beta of 1.09. The business's 50-day simple moving average is $478.16 and its 200 day simple moving average is $467.21. Ferrari N.V. has a twelve month low of $391.54 and a twelve month high of $519.10.

Ferrari (NYSE:RACE - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $2.70 EPS for the quarter, topping the consensus estimate of $2.57 by $0.13. The business had revenue of $2.12 billion during 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% compared to the same quarter last year. During the same period last year, the company posted $2.29 earnings per share. Ferrari has set its FY 2025 guidance at 9.751- EPS. As a group, analysts forecast that Ferrari N.V. will post 9.22 EPS 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.