Ferrari N.V. (RACE) Shares Sold by Chiron Investment Management LLC
Chiron Investment Management LLC reduced its stake in shares of Ferrari N.V. (NYSE:RACE) by 13.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 119,500 shares of the company’s stock after selling 19,100 shares during the period. Ferrari N.V. makes up 3.1% of Chiron Investment Management LLC’s investment portfolio, making the stock its 16th biggest position. Chiron Investment Management LLC owned about 0.06% of Ferrari N.V. worth $10,279,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of RACE. Bank of New York Mellon Corp lifted its stake in Ferrari N.V. by 124.2% in the second quarter. Bank of New York Mellon Corp now owns 811,847 shares of the company’s stock worth $69,836,000 after purchasing an additional 449,795 shares during the last quarter. FMR LLC lifted its stake in Ferrari N.V. by 4.6% in the first quarter. FMR LLC now owns 126,742 shares of the company’s stock worth $9,424,000 after purchasing an additional 5,620 shares during the last quarter. Geode Capital Management LLC bought a new stake in Ferrari N.V. in the first quarter worth $1,005,000. KCG Holdings Inc. bought a new stake in Ferrari N.V. in the first quarter worth $356,000. Finally, Bank of America Corp DE lifted its stake in Ferrari N.V. by 4.3% in the first quarter. Bank of America Corp DE now owns 896,521 shares of the company’s stock worth $66,665,000 after purchasing an additional 36,852 shares during the last quarter. 29.78% of the stock is owned by institutional investors.
Ferrari N.V. (NYSE:RACE) traded up 0.48% during mid-day trading on Wednesday, reaching $116.22. 167,783 shares of the company’s stock traded hands. The stock has a market capitalization of $21.96 billion, a PE ratio of 55.08 and a beta of 1.70. The stock has a 50-day moving average price of $112.75 and a 200-day moving average price of $94.50. Ferrari N.V. has a 12-month low of $50.39 and a 12-month high of $118.10.
Ferrari N.V. (NYSE:RACE) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.13. The business had revenue of $1.01 billion during the quarter. Ferrari N.V. had a net margin of 14.43% and a return on equity of 128.49%. Equities research analysts expect that Ferrari N.V. will post $3.18 EPS for the current year.
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Several analysts have weighed in on RACE shares. Zacks Investment Research downgraded shares of Ferrari N.V. from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Berenberg Bank reissued a “buy” rating on shares of Ferrari N.V. in a research note on Monday, August 14th. Morgan Stanley downgraded shares of Ferrari N.V. from an “overweight” rating to an “underweight” rating and set a $100.00 price target for the company. in a research note on Thursday, September 7th. UBS AG reissued a “buy” rating and issued a $125.00 price target (up from $100.00) on shares of Ferrari N.V. in a research note on Thursday, August 3rd. Finally, Evercore ISI boosted their price target on shares of Ferrari N.V. from $46.00 to $105.00 and gave the stock an “in-line” rating in a research note on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. Ferrari N.V. currently has a consensus rating of “Hold” and an average price target of $101.75.
About Ferrari N.V.
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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