WCM Investment Management LLC Decreases Stake in Ferrari N.V. $RACE

WCM Investment Management LLC reduced its position in Ferrari N.V. (NYSE:RACE) by 39.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 453,188 shares of the company’s stock after selling 297,316 shares during the period. WCM Investment Management LLC owned approximately 0.19% of Ferrari worth $222,561,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allianz Asset Management GmbH boosted its position in Ferrari by 26.1% in the 2nd quarter. Allianz Asset Management GmbH now owns 156,779 shares of the company’s stock valued at $76,937,000 after buying an additional 32,491 shares during the last quarter. Rheos Capital Works Inc. boosted its position in Ferrari by 14.1% in the 2nd quarter. Rheos Capital Works Inc. now owns 161,700 shares of the company’s stock valued at $79,353,000 after buying an additional 20,000 shares during the last quarter. Generali Asset Management SPA SGR lifted its position in shares of Ferrari by 3.4% during the second quarter. Generali Asset Management SPA SGR now owns 43,205 shares of the company’s stock worth $21,202,000 after purchasing an additional 1,405 shares during the last quarter. Harbour Investments Inc. lifted its position in shares of Ferrari by 11.8% during the second quarter. Harbour Investments Inc. now owns 466 shares of the company’s stock worth $229,000 after purchasing an additional 49 shares during the last quarter. Finally, TD Asset Management Inc lifted its position in shares of Ferrari by 1.1% during the second quarter. TD Asset Management Inc now owns 415,850 shares of the company’s stock worth $203,677,000 after purchasing an additional 4,434 shares during the last quarter.

Analyst Upgrades and Downgrades

RACE has been the topic of several research analyst reports. Sanford C. Bernstein reduced their price target on shares of Ferrari from $554.00 to $475.00 and set an “outperform” rating on the stock in a research report on Friday, October 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ferrari in a research report on Wednesday, October 8th. Berenberg Bank set a $570.00 price target on shares of Ferrari in a research report on Friday, October 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ferrari in a research report on Monday, August 4th. Finally, HSBC raised shares of Ferrari from a “hold” rating to a “buy” rating and set a $470.00 price target on the stock in a research report on Thursday, October 2nd. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $519.83.

Ferrari Price Performance

Shares of NYSE:RACE opened at $389.15 on Thursday. The firm’s 50 day moving average is $467.21 and its two-hundred day moving average is $468.84. Ferrari N.V. has a 52 week low of $372.31 and a 52 week high of $519.10. The firm has a market capitalization of $94.32 billion, a P/E ratio of 40.16, a PEG ratio of 4.04 and a beta of 1.08. The company has a current ratio of 5.09, a quick ratio of 3.94 and a debt-to-equity ratio of 0.89.

Ferrari (NYSE:RACE) last announced its quarterly earnings results on Thursday, July 31st. The company reported $2.70 EPS for the quarter, beating the consensus estimate of $2.57 by $0.13. Ferrari had a net margin of 22.95% and a return on equity of 45.41%. The company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same quarter last year, the business earned $2.29 earnings per share. Ferrari’s revenue was up 4.4% compared to the same quarter last year. Ferrari has set its FY 2025 guidance at 9.751- EPS. Analysts anticipate that Ferrari N.V. will post 9.22 earnings per share for the current 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.