Korea Investment CORP Has $62.71 Million Stock Position in Ferrari N.V. $RACE

Korea Investment CORP cut its stake in Ferrari N.V. (NYSE:RACE) by 10.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 128,381 shares of the company’s stock after selling 14,597 shares during the period. Korea Investment CORP owned 0.05% of Ferrari worth $62,706,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brooklyn Investment Group lifted its position in shares of Ferrari by 381.3% in the 1st quarter. Brooklyn Investment Group now owns 77 shares of the company’s stock worth $33,000 after purchasing an additional 61 shares during the period. GAMMA Investing LLC increased its position 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 buying an additional 21 shares during the period. Creekmur Asset Management LLC raised its stake in 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 buying an additional 66 shares during the last quarter. Centerpoint Advisors LLC acquired a new position in Ferrari in the first quarter valued at $43,000. Finally, Gordian Capital Singapore Pte Ltd lifted its holdings 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 during the period.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on RACE shares. Sanford C. Bernstein decreased their price target on Ferrari from $554.00 to $475.00 and set an “outperform” rating for the company in a report on Friday, October 10th. Weiss Ratings restated a “hold (c+)” rating on shares of Ferrari in a research report on Monday. Evercore ISI decreased their target price on Ferrari from $580.00 to $475.00 and set an “outperform” rating for the company in a research note on Friday, October 31st. The Goldman Sachs Group upgraded Ferrari to a “strong-buy” rating in a report on Monday. Finally, Citigroup cut their price target on Ferrari from $579.00 to $529.00 and set a “buy” rating on the stock in a report on Thursday, October 16th. Three investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $498.00.

Ferrari Trading Down 0.5%

NYSE RACE opened at $383.10 on Friday. The company has a quick ratio of 3.78, a current ratio of 4.90 and a debt-to-equity ratio of 0.76. Ferrari N.V. has a 52 week low of $372.31 and a 52 week high of $519.10. The business has a 50 day moving average price of $422.87 and a 200-day moving average price of $459.78. The company has a market cap of $92.86 billion, a price-to-earnings ratio of 38.70, a P/E/G ratio of 4.05 and a beta of 1.07.

Ferrari (NYSE:RACE) last issued its earnings results on Tuesday, November 4th. The company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.35 by $0.15. Ferrari had a return on equity of 44.20% and a net margin of 22.65%.The company had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Ferrari has set its FY 2025 guidance at 10.290- EPS. As a group, equities analysts expect 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.