Biglari Capital CORP. Purchases 66,400 Shares of Ferrari N.V. $RACE

Biglari Capital CORP. raised its position in shares of Ferrari N.V. (NYSE:RACE) by 29.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 291,981 shares of the company’s stock after purchasing an additional 66,400 shares during the period. Ferrari accounts for about 10.6% of Biglari Capital CORP.’s investment portfolio, making the stock its 2nd largest position. Biglari Capital CORP. owned approximately 0.12% of Ferrari worth $98,821,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in RACE. Deutsche Bank AG increased its stake in shares of Ferrari by 3.9% during the 4th quarter. Deutsche Bank AG now owns 973,583 shares of the company’s stock worth $359,797,000 after purchasing an additional 36,670 shares during the last quarter. HighTower Advisors LLC boosted its holdings in Ferrari by 94.4% in the fourth quarter. HighTower Advisors LLC now owns 25,068 shares of the company’s stock worth $9,284,000 after purchasing an additional 12,175 shares in the last quarter. Vanguard Group Inc. increased its position in Ferrari by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 5,213,450 shares of the company’s stock worth $1,937,388,000 after buying an additional 58,506 shares during the last quarter. Baer Investment Advisory LLC acquired a new position in Ferrari during the fourth quarter worth $1,970,000. Finally, China Universal Asset Management Co. Ltd. raised its stake in shares of Ferrari by 716.8% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,487 shares of the company’s stock valued at $3,136,000 after acquiring an additional 7,448 shares in the last quarter.

Ferrari Trading Up 5.5%

Shares of RACE opened at $380.09 on Tuesday. The stock has a fifty day moving average price of $361.11 and a two-hundred day moving average price of $352.31. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.08 and a current ratio of 5.20. Ferrari N.V. has a 52-week low of $312.51 and a 52-week high of $515.00. The company has a market cap of $88.92 billion, a price-to-earnings ratio of 36.47, a PEG ratio of 3.09 and a beta of 0.92.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on RACE shares. UBS Group boosted their price objective on Ferrari from $483.00 to $497.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Sanford C. Bernstein reissued an “outperform” rating on shares of Ferrari in a research note on Tuesday, June 2nd. Jefferies Financial Group upgraded Ferrari from a “hold” rating to a “buy” rating in a research report on Tuesday, March 31st. Morgan Stanley upgraded Ferrari from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $388.00 to $438.00 in a research note on Monday, June 15th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Ferrari in a report on Wednesday, July 8th. Three research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $471.97.

Ferrari 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.