Ferrari N.V. $RACE Shares Sold by WCM Investment Management LLC

WCM Investment Management LLC lessened its stake in shares of Ferrari N.V. (NYSE:RACE) by 39.6% during the second quarter, Holdings Channel.com reports. The fund owned 453,188 shares of the company’s stock after selling 297,316 shares during the period. WCM Investment Management LLC’s holdings in Ferrari were worth $222,561,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in RACE. Goldman Sachs Group Inc. increased its stake in shares of Ferrari by 52.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,277,115 shares of the company’s stock valued at $974,332,000 after acquiring an additional 781,587 shares during the period. Groupe la Francaise acquired a new position in shares of Ferrari during the first quarter valued at approximately $238,818,000. Nuveen LLC acquired a new position in shares of Ferrari during the first quarter valued at approximately $233,200,000. Vanguard Group Inc. increased its stake in shares of Ferrari by 8.1% during the first quarter. Vanguard Group Inc. now owns 5,071,130 shares of the company’s stock valued at $2,165,683,000 after acquiring an additional 377,929 shares during the period. Finally, Citigroup Inc. increased its stake in shares of Ferrari by 155.1% during the first quarter. Citigroup Inc. now owns 269,862 shares of the company’s stock valued at $115,469,000 after acquiring an additional 164,092 shares during the period.

Ferrari Trading Up 1.8%

Ferrari stock opened at $389.15 on Thursday. The company has a 50 day moving average price of $467.21 and a 200 day moving average price of $468.84. Ferrari N.V. has a 52 week low of $372.31 and a 52 week high of $519.10. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.94 and a current ratio of 5.09. The firm has a market capitalization of $94.32 billion, a price-to-earnings ratio of 40.16, a P/E/G ratio of 4.04 and a beta of 1.08.

Ferrari (NYSE:RACE) last posted its quarterly earnings data on Thursday, July 31st. The company reported $2.70 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 firm had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same quarter last year, the business posted $2.29 EPS. The company’s revenue was up 4.4% on a year-over-year basis. Ferrari has set its FY 2025 guidance at 9.751- EPS. Research analysts forecast that Ferrari N.V. will post 9.22 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on RACE. Royal Bank Of Canada restated an “outperform” rating on shares of Ferrari in a research report on Monday, August 4th. UBS Group lifted their price target on shares of Ferrari from $570.00 to $579.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Berenberg Bank set a $570.00 price target on shares of Ferrari in a research report on Friday, October 3rd. HSBC upgraded shares of Ferrari from a “hold” rating to a “buy” rating and set a $470.00 price target on the stock in a research report on Thursday, October 2nd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Ferrari in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $519.83.

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.