M&T Bank Corp Sells 899 Shares of Ferrari N.V. (NYSE:RACE)

M&T Bank Corp decreased its position in Ferrari N.V. (NYSE:RACE - Free Report) by 3.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,534 shares of the company's stock after selling 899 shares during the quarter. M&T Bank Corp's holdings in Ferrari were worth $9,642,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Park Square Financial Group LLC purchased a new position in Ferrari during the fourth quarter valued at $32,000. Alpine Bank Wealth Management purchased a new stake in Ferrari in the first quarter worth about $33,000. Webster Bank N. A. bought a new position in shares of Ferrari in the first quarter worth about $43,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Ferrari during the 1st quarter valued at about $48,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Ferrari by 60.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 148 shares of the company's stock valued at $63,000 after buying an additional 56 shares in the last quarter.

Ferrari Price Performance

RACE traded down $7.43 during trading on Friday, reaching $490.51. 268,265 shares of the company traded hands, compared to its average volume of 347,112. The company has a market cap of $118.89 billion, a P/E ratio of 51.91, a PEG ratio of 5.66 and a beta of 1.09. The company has a debt-to-equity ratio of 0.93, a quick ratio of 4.04 and a current ratio of 5.09. Ferrari N.V. has a 12-month low of $391.54 and a 12-month high of $509.13. The firm has a fifty day simple moving average of $481.54 and a 200 day simple moving average of $457.65.

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

Analyst Ratings Changes

A number of research firms have commented on RACE. JPMorgan Chase & Co. decreased their target price on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Barclays raised shares of Ferrari from an "equal weight" rating to an "overweight" rating in a research note on Friday, March 28th. Kepler Capital Markets upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a research note on Friday, March 28th. UBS Group upped their target price 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 lowered Ferrari from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $526.25.

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.