Chung Wu Investment Group LLC Takes Position in Ferrari N.V. $RACE

Chung Wu Investment Group LLC purchased a new position in shares of Ferrari N.V. (NYSE:RACE) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 120 shares of the company’s stock, valued at approximately $59,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RACE. GW&K Investment Management LLC lifted its stake in shares of Ferrari by 288.9% in the first quarter. GW&K Investment Management LLC now owns 70 shares of the company’s stock worth $30,000 after acquiring an additional 52 shares in the last quarter. GAMMA Investing LLC increased its holdings in Ferrari by 41.2% during the 2nd quarter. GAMMA Investing LLC now owns 72 shares of the company’s stock worth $35,000 after purchasing an additional 21 shares during the last quarter. Alpine Bank Wealth Management acquired a new position in shares of Ferrari in the 1st quarter valued at approximately $33,000. Brooklyn Investment Group boosted its stake in shares of Ferrari by 381.3% during the 1st quarter. Brooklyn Investment Group now owns 77 shares of the company’s stock valued at $33,000 after buying an additional 61 shares during the last quarter. Finally, Centerpoint Advisors LLC acquired a new stake in shares of Ferrari during the first quarter worth approximately $43,000.

Ferrari Stock Performance

Shares of NYSE RACE opened at $500.91 on Monday. The company has a quick ratio of 3.94, a current ratio of 5.09 and a debt-to-equity ratio of 0.89. The firm’s 50-day moving average price is $473.20 and its two-hundred day moving average price is $469.54. Ferrari N.V. has a 52-week low of $391.54 and a 52-week high of $519.10. The stock has a market capitalization of $121.41 billion, a P/E ratio of 51.69, a P/E/G ratio of 4.04 and a beta of 1.08.

Ferrari (NYSE:RACE) last posted its earnings results on Thursday, July 31st. The company reported $2.70 EPS for the quarter, beating the consensus estimate of $2.57 by $0.13. The company had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.05 billion. Ferrari had a return on equity of 45.41% and a net margin of 22.95%.The business’s revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.29 earnings per share. Ferrari has set its FY 2025 guidance at 9.751- EPS. As a group, sell-side analysts forecast that Ferrari N.V. will post 9.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on RACE shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ferrari in a report on Saturday, September 27th. Zacks Research lowered shares of Ferrari from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 29th. Hsbc Global Res upgraded Ferrari from a “hold” rating to a “strong-buy” rating in a research note on Thursday. Berenberg Bank set a $570.00 price objective on Ferrari in a report on Friday. Finally, UBS Group upped their price objective on Ferrari from $570.00 to $579.00 and gave the company a “buy” rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $528.80.

Ferrari Profile

Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.