Janney Montgomery Scott LLC Sells 34,837 Shares of Ferrari N.V. $RACE

Janney Montgomery Scott LLC cut its stake in shares of Ferrari N.V. (NYSE:RACE) by 68.4% during the first quarter, HoldingsChannel.com reports. The fund owned 16,111 shares of the company’s stock after selling 34,837 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Ferrari were worth $5,453,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Community Bank N.A. purchased a new stake in shares of Ferrari in the third quarter valued at approximately $33,000. Fideuram Asset Management Ireland dac bought a new position in Ferrari in the fourth quarter worth approximately $29,000. Entrust Financial LLC purchased a new position in Ferrari during the 4th quarter worth $33,000. Bamco Inc. NY increased its holdings in Ferrari by 790.9% during the 4th quarter. Bamco Inc. NY now owns 98 shares of the company’s stock worth $36,000 after purchasing an additional 87 shares during the period. Finally, CoreCap Advisors LLC raised its position in Ferrari by 70.0% during the 4th quarter. CoreCap Advisors LLC now owns 102 shares of the company’s stock valued at $38,000 after purchasing an additional 42 shares in the last quarter.

Ferrari Stock Up 0.1%

Ferrari stock opened at $385.23 on Friday. The business has a fifty day moving average of $348.91 and a two-hundred day moving average of $352.28. 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 firm has a market cap of $90.12 billion, a P/E ratio of 36.97, a P/E/G ratio of 3.68 and a beta of 0.92. Ferrari N.V. has a twelve month low of $312.51 and a twelve month high of $519.10.

Analyst Ratings Changes

Several brokerages have weighed in on RACE. Weiss Ratings reiterated a “hold (c)” rating on shares of Ferrari in a report on Friday, April 10th. Jefferies Financial Group upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, March 31st. UBS Group lifted their price objective on Ferrari from $483.00 to $497.00 and gave the company a “buy” rating in a report on Thursday. Morgan Stanley raised shares of Ferrari from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $388.00 to $438.00 in a research note on Monday, June 15th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of Ferrari in a research report on Tuesday, June 2nd. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Ferrari presently has an average rating of “Moderate Buy” and a consensus target price of $471.97.

Trending Headlines about Ferrari

Here are the key news stories impacting Ferrari this week:

• Positive Sentiment: Ferrari unveiled a limited-edition V12 model with a manual gearbox, a move aimed at traditional enthusiasts and a likely support for the brand’s high-margin luxury image. Ferrari appeals to traditionalists with new V12 manual gearbox limited edition
• Positive Sentiment: Lewis Hamilton put Ferrari on pole for the Silverstone sprint, creating fresh buzz around the Ferrari F1 team and boosting the brand’s global exposure. Motor racing-ecstatic Hamilton puts Ferrari on pole for Silverstone sprint
• Positive Sentiment: Hamilton also took pole for the Silverstone sprint race, reinforcing momentum around Ferrari’s motorsport performance and media coverage. Hamilton takes pole for Silverstone sprint race
• Neutral Sentiment: Ferrari promoted its weekend racing schedule across Europe and Japan, which is supportive of brand visibility but not a major direct earnings catalyst. Weekend preview: Ferrari on track in Europe and Japan
• Negative Sentiment: One racing preview noted Ferrari may face a power deficit at Silverstone, a reminder that on-track performance risks can temper some of the positive buzz around the brand. Hamilton expects power deficit to hurt Ferrari at Silverstone

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.