Ferrari N.V. $RACE Shares Sold by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP reduced its holdings in Ferrari N.V. by 67.7%, now owning only 6,431 shares after selling 13,472 shares during the first quarter.
• In contrast, GW&K Investment Management LLC increased its position by 288.9%, acquiring an additional 52 shares, while other institutional investors also shifted their investments in Ferrari.
• Ferrari reported $2.70 earnings per share for the last quarter, exceeding expectations, with a projected EPS of 9.22 for the current fiscal year.

Quantbot Technologies LP reduced its stake in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 67.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,431 shares of the company's stock after selling 13,472 shares during the period. Quantbot Technologies LP's holdings in Ferrari were worth $2,752,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in RACE. First Trust Advisors LP boosted its holdings in shares of Ferrari by 36.8% during the 4th quarter. First Trust Advisors LP now owns 15,485 shares of the company's stock worth $6,584,000 after purchasing an additional 4,162 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Ferrari by 3.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 176,138 shares of the company's stock worth $74,832,000 after purchasing an additional 6,662 shares during the last quarter. MetLife Investment Management LLC grew its holdings in shares of Ferrari by 30.7% in the fourth quarter. MetLife Investment Management LLC now owns 14,780 shares of the company's stock valued at $6,332,000 after purchasing an additional 3,474 shares during the period. TD Waterhouse Canada Inc. grew its holdings in shares of Ferrari by 13.6% in the fourth quarter. TD Waterhouse Canada Inc. now owns 9,319 shares of the company's stock valued at $3,955,000 after purchasing an additional 1,116 shares during the period. Finally, OneDigital Investment Advisors LLC grew its holdings in shares of Ferrari by 4.3% in the fourth quarter. OneDigital Investment Advisors LLC now owns 3,209 shares of the company's stock valued at $1,363,000 after purchasing an additional 131 shares during the period.

Ferrari Stock Up 0.9%

Shares of NYSE RACE traded up $4.1790 during midday trading on Friday, hitting $471.1990. The company's stock had a trading volume of 319,786 shares, compared to its average volume of 603,656. The business's fifty day simple moving average is $476.99 and its two-hundred day simple moving average is $466.95. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.09 and a quick ratio of 3.94. Ferrari N.V. has a 1 year low of $391.54 and a 1 year high of $519.10. The firm has a market capitalization of $114.21 billion, a price-to-earnings ratio of 48.63, a price-to-earnings-growth ratio of 5.09 and a beta of 1.09.

Ferrari (NYSE:RACE - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $2.70 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 during the quarter, compared to analyst estimates of $2.05 billion. During the same quarter last year, the firm posted $2.29 earnings per share. The business'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, equities analysts predict that Ferrari N.V. will post 9.22 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Royal Bank Of Canada reissued an "outperform" rating on shares of Ferrari in a report on Monday, August 4th. Citigroup reissued a "sell" rating on shares of Ferrari in a report on Monday, August 11th. Wall Street Zen lowered 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 report on Thursday, July 31st. Finally, UBS Group upped their price objective on shares of Ferrari from $520.00 to $560.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Seven 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.com, the company has an average rating of "Moderate Buy" and an average 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.