Jafra Capital Management LP Takes Position in Ferrari NV (RACE)
Jafra Capital Management LP bought a new stake in shares of Ferrari NV (NYSE:RACE) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 13,900 shares of the company’s stock, valued at approximately $1,877,000.
Other large investors have also made changes to their positions in the company. Partners Capital Investment Group LLP lifted its position in shares of Ferrari by 26.2% during the 2nd quarter. Partners Capital Investment Group LLP now owns 30,022 shares of the company’s stock valued at $4,053,000 after buying an additional 6,225 shares in the last quarter. Geneva Partners LLC acquired a new position in Ferrari in the 2nd quarter valued at $397,000. CIBC Private Wealth Group LLC raised its stake in Ferrari by 22.9% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 14,486 shares of the company’s stock valued at $1,956,000 after purchasing an additional 2,695 shares during the last quarter. Fiera Capital Corp acquired a new position in Ferrari in the 1st quarter valued at $8,624,000. Finally, State of Wisconsin Investment Board acquired a new position in Ferrari in the 2nd quarter valued at $12,756,000. Hedge funds and other institutional investors own 34.28% of the company’s stock.
Several research firms recently commented on RACE. ValuEngine downgraded Ferrari from a “buy” rating to a “hold” rating in a research note on Monday, August 20th. Morgan Stanley raised Ferrari from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $110.00 to $120.00 in a research note on Thursday, August 2nd. Goldman Sachs Group began coverage on Ferrari in a research note on Friday, May 25th. They issued a “neutral” rating for the company. Zacks Investment Research downgraded Ferrari from a “strong-buy” rating to a “sell” rating in a research note on Wednesday, July 4th. Finally, HSBC raised Ferrari from a “hold” rating to a “buy” rating in a research note on Wednesday, August 29th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Ferrari presently has a consensus rating of “Buy” and a consensus price target of $144.00.
Ferrari (NYSE:RACE) last issued its earnings results on Wednesday, August 1st. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.10. Ferrari had a return on equity of 72.38% and a net margin of 17.18%. The business had revenue of $906.00 million during the quarter, compared to the consensus estimate of $925.46 million. During the same period last year, the company earned $0.72 EPS. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. sell-side analysts forecast that Ferrari NV will post 3.66 EPS for the current fiscal year.
Ferrari N.V., through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports cars, GT cars, special series cars, limited edition supercars, limited editions series, and one-off cars; and open air roadsters and two-seater mid-rear-engined roadsters.
Further Reading: How to calculate the intrinsic value of a stock
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