Ferrari N.V. (RACE) Position Increased by Strategic Global Advisors LLC
Strategic Global Advisors LLC increased its position in shares of Ferrari N.V. (NYSE:RACE) by 0.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,034 shares of the company’s stock after buying an additional 38 shares during the period. Strategic Global Advisors LLC’s holdings in Ferrari N.V. were worth $519,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. purchased a new stake in Ferrari N.V. during the first quarter worth $127,000. PNC Financial Services Group Inc. boosted its holdings in Ferrari N.V. by 48.3% during the first quarter. PNC Financial Services Group Inc. now owns 1,798 shares of the company’s stock worth $135,000 after buying an additional 586 shares in the last quarter. Opera Trading Capital purchased a new stake in Ferrari N.V. during the second quarter worth $172,000. Ameriprise Financial Inc. purchased a new stake in Ferrari N.V. during the second quarter worth $216,000. Finally, BNP Paribas Arbitrage SA boosted its holdings in Ferrari N.V. by 128.4% during the second quarter. BNP Paribas Arbitrage SA now owns 2,723 shares of the company’s stock worth $234,000 after buying an additional 1,531 shares in the last quarter. 29.78% of the stock is currently owned by hedge funds and other institutional investors.
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A number of equities analysts have weighed in on RACE shares. UBS AG restated a “buy” rating and set a $125.00 price objective (up from $100.00) on shares of Ferrari N.V. in a research report on Thursday, August 3rd. Goldman Sachs Group, Inc. (The) started coverage on shares of Ferrari N.V. in a research report on Wednesday. They set a “neutral” rating and a $131.00 price objective for the company. Evercore ISI upped their price objective on shares of Ferrari N.V. from $46.00 to $105.00 and gave the stock an “in-line” rating in a research report on Friday, September 1st. Berenberg Bank restated a “buy” rating on shares of Ferrari N.V. in a research report on Monday, August 14th. Finally, Bank of America Corporation restated a “buy” rating and set a $100.00 price objective (up from $90.00) on shares of Ferrari N.V. in a research report on Friday, June 16th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. Ferrari N.V. has a consensus rating of “Hold” and a consensus price target of $101.75.
Ferrari N.V. (NYSE:RACE) traded up 0.75% during trading on Friday, reaching $110.05. 554,953 shares of the company’s stock were exchanged. Ferrari N.V. has a 52 week low of $47.26 and a 52 week high of $118.10. The stock has a 50-day moving average price of $111.25 and a 200 day moving average price of $88.58. The firm has a market capitalization of $20.79 billion, a price-to-earnings ratio of 36.84 and a beta of 1.78.
Ferrari N.V. (NYSE:RACE) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.13. The business had revenue of $1.01 billion during the quarter. Ferrari N.V. had a return on equity of 128.49% and a net margin of 14.43%. Equities research analysts forecast that Ferrari N.V. will post $3.24 earnings per share for the current fiscal year.
Ferrari N.V. Company Profile
Ferrari NV, known as New Business Netherlands NV, is an Italy-based company, incorporated in the Netherlands, that is engaged in designing, manufacturing and selling sports cars under the Ferrari brand. Its products include nine sports car models, including seven sports cars: 458 Italia, 488 GTB, 458 Spider, 488 Spider, F12 Berlinetta, 458 Speciale and 458 Speciale A; as well as two grand tourer (GT) cars: California T and FF.
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