Barings LLC Buys 19,616 Shares of Ferrari N.V. $RACE

Barings LLC lifted its position in Ferrari N.V. (NYSE:RACE) by 823.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,998 shares of the company’s stock after acquiring an additional 19,616 shares during the period. Barings LLC’s holdings in Ferrari were worth $7,347,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Fideuram Asset Management Ireland dac acquired a new position in Ferrari during the fourth quarter valued at approximately $29,000. Entrust Financial LLC acquired a new stake in Ferrari in the fourth quarter worth $33,000. Bellevue Asset Management LLC acquired a new stake in Ferrari in the first quarter worth $34,000. Bamco Inc. NY boosted its position in shares of Ferrari by 790.9% during the fourth quarter. Bamco Inc. NY now owns 98 shares of the company’s stock worth $36,000 after purchasing an additional 87 shares in the last quarter. Finally, CoreCap Advisors LLC boosted its position in shares of Ferrari by 70.0% during the fourth quarter. CoreCap Advisors LLC now owns 102 shares of the company’s stock worth $38,000 after purchasing an additional 42 shares in the last quarter.

Analyst Ratings Changes

A number of analysts recently commented on RACE shares. Weiss Ratings restated a “hold (c)” rating on shares of Ferrari in a research report on Wednesday, July 8th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Ferrari in a report on Tuesday, June 2nd. UBS Group lifted their target price on Ferrari from $483.00 to $497.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Wolfe Research started coverage on Ferrari in a research note on Tuesday, July 7th. They issued an “outperform” rating for the company. Finally, Morgan Stanley upgraded Ferrari from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $388.00 to $438.00 in a report on Monday, June 15th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $471.97.

Ferrari Trading Up 1.8%

Shares of NYSE:RACE opened at $382.59 on Friday. Ferrari N.V. has a 12 month low of $312.51 and a 12 month high of $519.10. The company has a quick ratio of 4.08, a current ratio of 5.20 and a debt-to-equity ratio of 0.72. The company’s fifty day simple moving average is $355.46 and its 200 day simple moving average is $352.45. The firm has a market cap of $89.51 billion, a price-to-earnings ratio of 36.71, a PEG ratio of 3.22 and a beta of 0.92.

Ferrari Profile

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.