Mutual Advisors LLC Sells 84 Shares of Ferrari N.V. $RACE

Mutual Advisors LLC reduced its stake in Ferrari N.V. (NYSE:RACE) by 8.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 936 shares of the company’s stock after selling 84 shares during the period. Mutual Advisors LLC’s holdings in Ferrari were worth $485,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. GW&K Investment Management LLC grew its stake 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 acquiring an additional 52 shares in the last quarter. Alpine Bank Wealth Management bought a new position in Ferrari in the 1st quarter worth about $33,000. Brooklyn Investment Group grew its stake 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 acquiring an additional 61 shares in the last quarter. GAMMA Investing LLC grew its stake in Ferrari by 41.2% in the 2nd quarter. GAMMA Investing LLC now owns 72 shares of the company’s stock worth $35,000 after acquiring an additional 21 shares in the last quarter. Finally, Centerpoint Advisors LLC bought a new position in Ferrari in the 1st quarter worth about $43,000.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Ferrari in a research note on Wednesday, October 8th. UBS Group lowered their price target on shares of Ferrari from $579.00 to $529.00 and set a “buy” rating for the company in a research report on Thursday. Cfra Research cut shares of Ferrari from a “hold” rating to a “moderate sell” rating in a research report on Thursday, July 31st. Zacks Research downgraded shares of Ferrari from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 29th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, September 2nd. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $514.00.

Ferrari Price Performance

Shares of RACE opened at $399.26 on Monday. The company has a market cap of $96.77 billion, a price-to-earnings ratio of 41.20, a price-to-earnings-growth ratio of 4.23 and a beta of 1.08. Ferrari N.V. has a twelve month low of $372.31 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 company has a 50 day moving average of $465.18 and a two-hundred day moving average of $468.84.

Ferrari (NYSE:RACE) 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. The business had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Ferrari had a net margin of 22.95% and a return on equity of 45.41%. The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the company posted $2.29 earnings per share. Ferrari has set its FY 2025 guidance at 9.751- EPS. As a group, analysts predict 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.