Osmosis Investment Management UK Ltd Takes $1.20 Million Position in Ferrari N.V. $RACE

Key Points

• Osmosis Investment Management acquired 3,236 Ferrari shares worth approximately $1.2 million in the second quarter. Several other institutional investors also initiated or increased positions.
• Ferrari reported quarterly EPS of $2.99, beating estimates of $2.83, while revenue rose 8.4% year over year to $2.21 billion. Analysts expect full-year EPS of $11.18.
• Despite shares trading down 2.8% at $424.31, Ferrari maintains a “Moderate Buy” consensus rating, with analysts’ average price target at $477.15.

Osmosis Investment Management UK Ltd acquired a new stake in shares of Ferrari N.V. (NYSE:RACE - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,236 shares of the company's stock, valued at approximately $1,200,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of RACE. Fideuram Asset Management Ireland dac bought a new position in Ferrari in the 4th quarter valued at $29,000. Entrust Financial LLC bought a new position in shares of Ferrari in the fourth quarter worth $33,000. Bamco Inc. NY increased its holdings in shares of Ferrari by 790.9% in the fourth quarter. Bamco Inc. NY now owns 98 shares of the company's stock worth $36,000 after purchasing an additional 87 shares during the period. Bellevue Asset Management LLC purchased a new stake in shares of Ferrari in the first quarter worth $34,000. Finally, Dunhill Financial LLC purchased a new stake in shares of Ferrari in the second quarter worth $38,000.

Ferrari Trading Down 2.8%

NYSE RACE opened at $424.31 on Tuesday. The firm has a market cap of $99.27 billion, a PE ratio of 39.39, a price-to-earnings-growth ratio of 3.75 and a beta of 0.91. Ferrari N.V. has a 1-year low of $312.51 and a 1-year high of $504.49. The stock has a 50-day moving average of $385.77 and a 200-day moving average of $361.05. The company has a current ratio of 4.85, a quick ratio of 3.70 and a debt-to-equity ratio of 0.86.

Ferrari (NYSE:RACE - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The company reported $2.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.16. The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.14 billion. Ferrari had a return on equity of 42.83% and a net margin of 22.29%.Ferrari's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the company earned $2.38 EPS. As a group, sell-side analysts forecast that Ferrari N.V. will post 11.18 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on RACE shares. Evercore restated an "outperform" rating and set a $485.00 target price on shares of Ferrari in a research report on Friday, July 31st. UBS Group lowered their price target on Ferrari from $497.00 to $490.00 and set a "buy" rating on the stock in a report on Friday, July 31st. Morgan Stanley reiterated an "overweight" rating and set a $442.00 price target on shares of Ferrari in a research report on Friday, July 31st. Sanford C. Bernstein boosted their price objective on Ferrari from $402.00 to $460.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Finally, Wolfe Research assumed coverage on shares of Ferrari in a research report on Tuesday, July 7th. They issued an "outperform" rating on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $477.15.

Ferrari Company Profile

Ferrari N.V. NYSE: RACE is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company's core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.

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