Mediolanum International Funds Ltd Acquires 8,770 Shares of Ferrari N.V. $RACE

Mediolanum International Funds Ltd raised its stake in Ferrari N.V. (NYSE:RACE) by 40.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,407 shares of the company’s stock after purchasing an additional 8,770 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Ferrari were worth $14,656,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mather Group LLC. purchased a new stake in Ferrari in the 3rd quarter valued at about $27,000. Root Financial Partners LLC purchased a new stake in Ferrari in the 3rd quarter worth about $28,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Ferrari in the second quarter worth about $30,000. Virtus Advisers LLC purchased a new position in Ferrari in the 2nd quarter valued at approximately $34,000. Finally, GAMMA Investing LLC grew its position in shares of Ferrari by 41.2% in the second quarter. GAMMA Investing LLC now owns 72 shares of the company’s stock valued at $35,000 after purchasing an additional 21 shares in the last quarter.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RACE. Sanford C. Bernstein reissued an “outperform” rating and issued a $395.00 price target on shares of Ferrari in a report on Friday, January 9th. UBS Group lowered their target price on shares of Ferrari from $563.00 to $555.00 and set a “buy” rating on the stock in a research note on Friday, January 9th. Evercore ISI reduced their price target 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. Loop Capital set a $481.67 price objective on Ferrari in a research report on Thursday, December 4th. Finally, HSBC reissued a “hold” rating on shares of Ferrari in a research note on Tuesday, January 13th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $480.67.

Ferrari Trading Down 1.6%

NYSE RACE opened at $333.00 on Monday. The company has a market capitalization of $80.71 billion, a price-to-earnings ratio of 33.64, a PEG ratio of 3.62 and a beta of 1.01. 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 twelve month low of $331.01 and a twelve month high of $519.10. The stock’s 50-day simple moving average is $367.32 and its two-hundred day simple moving average is $421.65.

Ferrari (NYSE:RACE) last issued its quarterly 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. Research analysts forecast that Ferrari N.V. will post 9.22 EPS for the current fiscal year.

About Ferrari

Ferrari N.V. (NYSE: RACE) is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company’s core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.