Generate Investment Management Ltd Purchases 11,707 Shares of Ferrari N.V. $RACE

Generate Investment Management Ltd lifted its position in Ferrari N.V. (NYSE:RACE) by 45.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 37,196 shares of the company’s stock after acquiring an additional 11,707 shares during the quarter. Generate Investment Management Ltd’s holdings in Ferrari were worth $14,612,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in shares of Ferrari by 55.3% in the third quarter. GAMMA Investing LLC now owns 146 shares of the company’s stock worth $57,000 after buying an additional 52 shares during the period. Grove Bank & Trust raised its position in Ferrari by 51.5% during the third quarter. Grove Bank & Trust now owns 100 shares of the company’s stock valued at $39,000 after buying an additional 34 shares during the period. Farther Finance Advisors LLC raised its position in Ferrari by 12.4% during the third quarter. Farther Finance Advisors LLC now owns 2,322 shares of the company’s stock valued at $912,000 after buying an additional 257 shares during the period. Sapient Capital LLC purchased a new stake in Ferrari in the 3rd quarter worth about $270,000. Finally, CoreCap Advisors LLC lifted its stake in Ferrari by 59.8% in the 3rd quarter. CoreCap Advisors LLC now owns 163 shares of the company’s stock worth $64,000 after acquiring an additional 61 shares in the last quarter.

Ferrari Stock Performance

RACE traded down $4.35 during midday trading on Wednesday, reaching $387.25. The company’s stock had a trading volume of 197,204 shares, compared to its average volume of 600,726. Ferrari N.V. has a twelve month low of $312.51 and a twelve month high of $437.15. The company has a current ratio of 4.85, a quick ratio of 3.70 and a debt-to-equity ratio of 0.86. The stock has a market cap of $90.60 billion, a P/E ratio of 35.96, a PEG ratio of 3.35 and a beta of 0.93. The company has a fifty day simple moving average of $408.03 and a 200 day simple moving average of $374.42.

Ferrari (NYSE:RACE) last released its earnings results 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. Ferrari had a return on equity of 42.83% and a net margin of 22.29%. The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same period last year, the business earned $2.38 earnings per share. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. Research analysts expect that Ferrari N.V. will post 11.16 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on RACE. Banca Akros lowered Ferrari to a “neutral” rating in a research report on Monday, August 24th. Wolfe Research assumed coverage on shares of Ferrari in a research report on Tuesday, July 7th. They issued an “outperform” rating for the company. Needham & Company LLC upgraded shares of Ferrari to a “neutral” rating in a report on Friday, July 31st. Berenberg Bank reaffirmed a “buy” rating on shares of Ferrari in a research note on Monday, September 28th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Ferrari in a research report on Friday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, Ferrari has a consensus rating of “Moderate Buy” and an average target price 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.