Ferrari N.V. $RACE Stock Acquired by Ninety One UK Ltd

Ninety One UK Ltd lifted its holdings in Ferrari N.V. (NYSE:RACE) by 12.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 941,574 shares of the company’s stock after buying an additional 103,264 shares during the period. Ninety One UK Ltd’s holdings in Ferrari were worth $370,470,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Ninety One North America Inc. lifted its holdings in shares of Ferrari by 184.7% in the 3rd quarter. Ninety One North America Inc. now owns 29,821 shares of the company’s stock valued at $11,733,000 after acquiring an additional 19,347 shares during the last quarter. Strategy Asset Managers LLC purchased a new position in Ferrari in the third quarter worth about $210,000. Generate Investment Management Ltd increased its stake in Ferrari by 45.9% during the third quarter. Generate Investment Management Ltd now owns 37,196 shares of the company’s stock worth $14,612,000 after acquiring an additional 11,707 shares during the last quarter. GAMMA Investing LLC increased its stake in Ferrari by 55.3% during the third quarter. GAMMA Investing LLC now owns 146 shares of the company’s stock worth $57,000 after acquiring an additional 52 shares during the last quarter. Finally, Grove Bank & Trust increased its stake in Ferrari by 51.5% during the third quarter. Grove Bank & Trust now owns 100 shares of the company’s stock worth $39,000 after acquiring an additional 34 shares during the last quarter.

Ferrari Trading Up 2.8%

Shares of RACE stock traded up $10.68 during trading hours on Thursday, reaching $398.02. 406,624 shares of the stock were exchanged, compared to its average volume of 600,493. The firm has a market capitalization of $93.12 billion, a price-to-earnings ratio of 36.91, a price-to-earnings-growth ratio of 3.37 and a beta of 0.93. Ferrari N.V. has a 12-month low of $312.51 and a 12-month high of $437.15. The company’s 50-day moving average price is $407.64 and its 200-day moving average price is $374.87. The company has a current ratio of 4.85, a quick ratio of 3.70 and a debt-to-equity ratio of 0.86.

Ferrari (NYSE:RACE) last posted its quarterly earnings data on Friday, July 31st. The company reported $2.99 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.16. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.14 billion. Ferrari had a net margin of 22.29% and a return on equity of 42.83%. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.38 EPS. As a group, equities analysts anticipate that Ferrari N.V. will post 11.16 earnings per share for the current year.

Analyst Ratings Changes

RACE has been the topic of a number of recent research reports. Sanford C. Bernstein restated a “buy” rating on shares of Ferrari in a research report on Tuesday, September 29th. The Goldman Sachs Group reiterated a “buy” rating on shares of Ferrari in a report on Tuesday, August 11th. Citigroup reissued a “neutral” rating on shares of Ferrari in a research report on Monday, August 3rd. Needham & Company LLC upgraded Ferrari to a “neutral” rating in a report on Friday, July 31st. Finally, Wolfe Research initiated coverage on Ferrari in a report on Tuesday, July 7th. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, Ferrari currently has an average rating of “Moderate Buy” and an average price target of $464.74.

Ferrari Profile

Ferrari N.V. is an Italian luxury automotive company that designs, develops, manufactures and sells high-performance sports cars. Its product portfolio includes mid- and front-engine sports cars, grand touring models, special-series vehicles and limited-edition automobiles. Ferrari also develops hybrid and other electrified models while maintaining a focus on performance, craftsmanship, design and exclusivity.

The company generates additional activities through its racing operations, vehicle personalization programs, financial services, merchandise, licensing and branded experiences.