GAMMA Investing LLC Raises Holdings in Ferrari N.V. $RACE

GAMMA Investing LLC boosted its stake in shares of Ferrari N.V. (NYSE:RACE) by 41.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 72 shares of the company’s stock after acquiring an additional 21 shares during the quarter. GAMMA Investing LLC’s holdings in Ferrari were worth $35,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. GW&K Investment Management LLC lifted its holdings in Ferrari by 288.9% in the 1st quarter. GW&K Investment Management LLC now owns 70 shares of the company’s stock worth $30,000 after buying an additional 52 shares during the period. Alpine Bank Wealth Management purchased a new stake in Ferrari in the 1st quarter worth approximately $33,000. Brooklyn Investment Group lifted its holdings in Ferrari by 381.3% in the 1st quarter. Brooklyn Investment Group now owns 77 shares of the company’s stock worth $33,000 after buying an additional 61 shares during the period. Centerpoint Advisors LLC purchased a new stake in Ferrari in the 1st quarter worth approximately $43,000. Finally, Gordian Capital Singapore Pte Ltd lifted its holdings in Ferrari by 42.9% in the 1st quarter. Gordian Capital Singapore Pte Ltd now owns 100 shares of the company’s stock worth $43,000 after buying an additional 30 shares during the period.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Zacks Research cut Ferrari from a “strong-buy” rating to a “hold” rating in a report on Friday, August 29th. Berenberg Bank set a $570.00 target price on Ferrari in a research note on Friday. HSBC upgraded Ferrari from a “hold” rating to a “buy” rating and set a $470.00 target price for the company in a research note on Thursday. Deutsche Bank Aktiengesellschaft upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, September 2nd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Ferrari in a research note on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Ferrari has a consensus rating of “Moderate Buy” and an average price target of $528.80.

Ferrari Stock Down 0.6%

RACE stock opened at $500.91 on Monday. Ferrari N.V. has a twelve month low of $391.54 and a twelve month high of $519.10. The company has a quick ratio of 3.94, a current ratio of 5.09 and a debt-to-equity ratio of 0.89. The firm has a market cap of $121.41 billion, a PE ratio of 51.69, a price-to-earnings-growth ratio of 4.04 and a beta of 1.08. The business has a 50 day moving average of $473.20 and a 200 day moving average of $469.54.

Ferrari (NYSE:RACE) last posted its quarterly earnings data on Thursday, July 31st. The company reported $2.70 earnings per share for the quarter, beating analysts’ consensus estimates of $2.57 by $0.13. Ferrari had a return on equity of 45.41% and a net margin of 22.95%.The company had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same quarter last year, the company earned $2.29 EPS. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. Ferrari has set its FY 2025 guidance at 9.751- EPS. On average, research analysts forecast that Ferrari N.V. will post 9.22 EPS for the current fiscal year.

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.