Ferrari N.V. $RACE Stock Holdings Trimmed by Granite Group Advisors LLC

Granite Group Advisors LLC decreased its holdings in Ferrari N.V. (NYSE:RACE) by 43.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 442 shares of the company’s stock after selling 335 shares during the quarter. Granite Group Advisors LLC’s holdings in Ferrari were worth $217,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sound View Wealth Advisors Group LLC grew its position in Ferrari by 1.0% in the 1st quarter. Sound View Wealth Advisors Group LLC now owns 2,198 shares of the company’s stock valued at $940,000 after buying an additional 21 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Ferrari by 41.2% in the 2nd quarter. GAMMA Investing LLC now owns 72 shares of the company’s stock worth $35,000 after acquiring an additional 21 shares during the period. Rehmann Capital Advisory Group boosted its holdings in shares of Ferrari by 3.9% in the first quarter. Rehmann Capital Advisory Group now owns 697 shares of the company’s stock valued at $299,000 after acquiring an additional 26 shares in the last quarter. Inspire Investing LLC raised its holdings in Ferrari by 0.7% during the second quarter. Inspire Investing LLC now owns 4,332 shares of the company’s stock worth $2,126,000 after purchasing an additional 28 shares in the last quarter. Finally, Aviso Financial Inc. lifted its position in Ferrari by 1.1% in the first quarter. Aviso Financial Inc. now owns 2,835 shares of the company’s stock worth $1,213,000 after purchasing an additional 30 shares during the period.

Ferrari Trading Up 1.0%

Shares of RACE opened at $382.60 on Wednesday. The business’s 50-day moving average price is $468.29 and its 200 day moving average price is $469.39. The company has a current ratio of 5.09, a quick ratio of 3.94 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $92.74 billion, a P/E ratio of 39.48, a P/E/G ratio of 4.01 and a beta of 1.08. Ferrari N.V. has a 1-year low of $372.31 and a 1-year high of $519.10.

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on RACE shares. Royal Bank Of Canada reiterated an “outperform” rating on shares of Ferrari in a research report on Monday, August 4th. UBS Group lifted their target price on Ferrari from $570.00 to $579.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. Cfra Research cut shares of Ferrari from a “hold” rating to a “moderate sell” rating in a research report on Thursday, July 31st. Weiss Ratings restated a “buy (b)” rating on shares of Ferrari in a research report on Wednesday, October 8th. Finally, Zacks Research downgraded shares of Ferrari from a “strong-buy” rating to a “hold” rating in a report on Friday, August 29th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $519.83.

About Ferrari

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.