WCM Investment Management LLC Sells 40,101 Shares of Ferrari N.V. (NYSE:RACE)

WCM Investment Management LLC trimmed its holdings in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 5.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 750,504 shares of the company's stock after selling 40,101 shares during the period. WCM Investment Management LLC owned 0.31% of Ferrari worth $322,499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of RACE. Charles Schwab Investment Management Inc. lifted its stake in shares of Ferrari by 8.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,139 shares of the company's stock worth $4,307,000 after acquiring an additional 755 shares during the period. Fox Run Management L.L.C. acquired a new stake in shares of Ferrari during the 4th quarter valued at approximately $853,000. Zurich Insurance Group Ltd FI increased its stake in Ferrari by 13.2% in the 4th quarter. Zurich Insurance Group Ltd FI now owns 79,796 shares of the company's stock valued at $34,042,000 after purchasing an additional 9,274 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Ferrari by 2.6% during the fourth quarter. Russell Investments Group Ltd. now owns 128,482 shares of the company's stock worth $54,847,000 after purchasing an additional 3,277 shares during the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. purchased a new stake in Ferrari during the fourth quarter worth $3,371,000.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Wall Street Zen downgraded Ferrari from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Kepler Capital Markets upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a research report on Friday, March 28th. UBS Group upped their target price on Ferrari from $520.00 to $560.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Barclays upgraded Ferrari from an "equal weight" rating to an "overweight" rating in a research report on Friday, March 28th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Ferrari presently has a consensus rating of "Moderate Buy" and a consensus target price of $526.25.

Ferrari Stock Down 0.2%

RACE stock traded down $1.12 during mid-day trading on Thursday, hitting $490.44. 201,602 shares of the company were exchanged, compared to its average volume of 344,980. The firm has a fifty day simple moving average of $477.96 and a 200 day simple moving average of $455.07. The company has a market capitalization of $118.87 billion, a PE ratio of 51.90, a price-to-earnings-growth ratio of 5.59 and a beta of 1.09. Ferrari N.V. has a twelve month low of $391.54 and a twelve month high of $509.13. The company has a current ratio of 5.09, a quick ratio of 4.04 and a debt-to-equity ratio of 0.93.

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

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.