U S Global Investors Inc. Has $2.68 Million Stock Position in Ferrari N.V. $RACE

U S Global Investors Inc. increased its stake in Ferrari N.V. (NYSE:RACE) by 36.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,925 shares of the company’s stock after purchasing an additional 2,110 shares during the period. U S Global Investors Inc.’s holdings in Ferrari were worth $2,682,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Benjamin Edwards Inc. lifted its position in Ferrari by 3.7% during the second quarter. Benjamin Edwards Inc. now owns 613 shares of the company’s stock worth $299,000 after purchasing an additional 22 shares during the period. Pacific Sun Financial Corp increased its holdings in Ferrari by 2.5% in the 3rd quarter. Pacific Sun Financial Corp now owns 1,008 shares of the company’s stock valued at $489,000 after buying an additional 25 shares during the period. Horizon Investments LLC increased its holdings in Ferrari by 33.3% in the 3rd quarter. Horizon Investments LLC now owns 104 shares of the company’s stock valued at $50,000 after buying an additional 26 shares during the period. Evergreen Capital Management LLC raised its position in shares of Ferrari by 1.4% in the 2nd quarter. Evergreen Capital Management LLC now owns 1,928 shares of the company’s stock valued at $946,000 after buying an additional 26 shares in the last quarter. Finally, Enhancing Capital LLC raised its position in shares of Ferrari by 1.6% in the 3rd quarter. Enhancing Capital LLC now owns 1,808 shares of the company’s stock valued at $877,000 after buying an additional 28 shares in the last quarter.

Ferrari News Summary

Here are the key news stories impacting Ferrari this week:

• Positive Sentiment: Mercedes boss Toto Wolff said Ferrari could challenge Mercedes for the rest of the F1 season, a comment that may boost sentiment around Ferrari’s competitive outlook and brand visibility. Toto Wolff warns Ferrari will challenge Mercedes for ‘rest of the F1 season’
• Positive Sentiment: Ferrari’s Madrid track filming day and its data-gathering efforts ahead of rivals highlight ongoing F1 development, which can support enthusiasm around the team’s performance momentum. First look: Ferrari gives Madrid track its F1 debut on filming day Ferrari begins gathering what could be crucial data ahead of its F1 rivals
• Neutral Sentiment: Several articles covered Ferrari cars in drag races and enthusiast content, which may help brand exposure but is unlikely to materially affect the stock. Is the Ferrari Pista faster than the Ferrari F8 Tributo in drag race? Lamborghini Revuelto faces Ferrari 296 GTB in drag race
• Negative Sentiment: An article on Ferrari’s Austria engine upgrade said the race exposed problems the update could not fix, which could weigh on sentiment if investors view it as a sign of persistent performance issues in F1. Ferrari brought an engine upgrade to Austria – then the race exposed everything it could not fix
• Negative Sentiment: Coverage of a Ferrari race car crash at Watkins Glen and a classic Mini destroying a tuned Ferrari in a drag race may be mildly negative for brand optics, though likely limited in financial impact. Ferrari race car crash at Watkins Glen during 130 mph run Classic Mini Destroys Tuned Ferrari 488 In Wild Drag Race Battle

Wall Street Analysts Forecast Growth

RACE has been the topic of several analyst reports. Wolfe Research started coverage on shares of Ferrari in a research report on Tuesday. They set an “outperform” rating on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Ferrari in a research report on Wednesday. Morgan Stanley upgraded Ferrari from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $388.00 to $438.00 in a research note on Monday, June 15th. UBS Group raised their target price on Ferrari from $483.00 to $497.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Finally, Jefferies Financial Group upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, March 31st. Three 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $471.97.

Ferrari Price Performance

Shares of Ferrari stock traded up $2.11 during midday trading on Friday, hitting $376.78. 250,131 shares of the company traded hands, compared to its average volume of 498,534. The stock has a market cap of $88.15 billion, a price-to-earnings ratio of 36.16, a PEG ratio of 3.22 and a beta of 0.92. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.08 and a current ratio of 5.20. The firm’s fifty day moving average price is $352.36 and its 200-day moving average price is $352.64. Ferrari N.V. has a 12 month low of $312.51 and a 12 month high of $519.10.

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.