Vident Advisory LLC Increases Stake in Ferrari N.V. $RACE

Key Points

• Vident Advisory LLC increased its holdings in Ferrari N.V. by 160.6% during the first quarter, owning a total of 6,884 shares worth approximately $2.95 million at the end of the reporting period.
• Ferrari reported an earnings per share (EPS) of $2.70 for the last quarter, exceeding analyst expectations of $2.57, along with a quarterly revenue of $2.12 billion.
• Despite mixed ratings from analysts, with a consensus of "Moderate Buy," the average target price for Ferrari's stock stands at $528.33.

Vident Advisory LLC increased its stake in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 160.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,884 shares of the company's stock after purchasing an additional 4,242 shares during the quarter. Vident Advisory LLC's holdings in Ferrari were worth $2,945,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. GW&K Investment Management LLC lifted its position 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 valued at $30,000 after buying an additional 52 shares during the last quarter. Park Square Financial Group LLC purchased a new stake in shares of Ferrari during the fourth quarter valued at about $32,000. Alpine Bank Wealth Management purchased a new stake in shares of Ferrari during the first quarter valued at about $33,000. Brooklyn Investment Group lifted its position in shares of Ferrari by 381.3% during the first quarter. Brooklyn Investment Group now owns 77 shares of the company's stock valued at $33,000 after buying an additional 61 shares during the last quarter. Finally, Webster Bank N. A. purchased a new stake in shares of Ferrari during the first quarter valued at about $43,000.

Ferrari Stock Performance

RACE traded down $6.13 during trading on Friday, reaching $489.06. 279,110 shares of the company's stock were exchanged, compared to its average volume of 419,168. Ferrari N.V. has a 1 year low of $391.54 and a 1 year high of $519.10. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.09 and a quick ratio of 3.94. The stock has a market capitalization of $118.54 billion, a P/E ratio of 50.47, a price-to-earnings-growth ratio of 5.64 and a beta of 1.10. The company's fifty day simple moving average is $479.65 and its 200-day simple moving average is $467.17.

Ferrari (NYSE:RACE - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $2.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.57 by $0.13. Ferrari had a net margin of 22.95% and a return on equity of 45.41%. The company had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same period last year, the firm posted $2.29 EPS. Ferrari'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. As a group, research analysts predict that Ferrari N.V. will post 9.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on RACE. Zacks Research lowered shares of Ferrari from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 29th. Wall Street Zen cut Ferrari from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Cfra Research cut Ferrari from a "hold" rating to a "moderate sell" rating in a research note on Thursday, July 31st. UBS Group increased their price target on Ferrari from $540.00 to $570.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Citigroup reiterated a "sell" rating on shares of Ferrari in a research note on Monday, August 11th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $531.67.

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.