Financial Advocates Investment Management Decreases Stake in Ferrari N.V. $RACE

Financial Advocates Investment Management trimmed its position in shares of Ferrari N.V. (NYSE:RACE) by 43.5% during the second quarter, Holdings Channel reports. The institutional investor owned 1,394 shares of the company’s stock after selling 1,073 shares during the quarter. Financial Advocates Investment Management’s holdings in Ferrari were worth $684,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in RACE. Brooklyn Investment Group grew its holdings in Ferrari by 381.3% during 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 shares of Ferrari by 41.2% during the second quarter. GAMMA Investing LLC now owns 72 shares of the company’s stock worth $35,000 after purchasing an additional 21 shares in the last quarter. Creekmur Asset Management LLC grew its stake in shares of Ferrari by 660.0% during the second quarter. Creekmur Asset Management LLC now owns 76 shares of the company’s stock worth $37,000 after purchasing an additional 66 shares in the last quarter. Centerpoint Advisors LLC purchased a new position in Ferrari in the first quarter valued at $43,000. Finally, Gordian Capital Singapore Pte Ltd raised its stake in Ferrari by 42.9% in the first quarter. Gordian Capital Singapore Pte Ltd now owns 100 shares of the company’s stock valued at $43,000 after buying an additional 30 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on RACE shares. Hsbc Global Res raised Ferrari from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 2nd. Cfra Research downgraded Ferrari from a “hold” rating to a “moderate sell” rating in a report on Thursday, July 31st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Ferrari in a research note on Monday. Evercore ISI reduced their price objective on shares of Ferrari from $580.00 to $475.00 and set an “outperform” rating for the company in a research report on Friday, October 31st. Finally, Berenberg Bank set a $570.00 target price on shares of Ferrari in a report on Friday, October 3rd. Three analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $498.00.

Ferrari Price Performance

Shares of NYSE RACE opened at $383.10 on Thursday. The stock has a market cap of $92.85 billion, a P/E ratio of 38.70, a P/E/G ratio of 4.08 and a beta of 1.07. Ferrari N.V. has a twelve month low of $372.31 and a twelve month high of $519.10. The stock has a 50 day moving average of $424.89 and a two-hundred day moving average of $460.32. The company has a current ratio of 4.90, a quick ratio of 3.78 and a debt-to-equity ratio of 0.76.

Ferrari (NYSE:RACE) last announced its earnings results on Tuesday, November 4th. The company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.35 by $0.15. The business had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Ferrari had a net margin of 22.65% and a return on equity of 44.20%. Ferrari has set its FY 2025 guidance at 10.290- EPS. On average, research analysts forecast that Ferrari N.V. will post 9.22 earnings per share for the current year.

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.