Mediolanum International Funds Ltd Raises Position in Ferrari N.V. $RACE

Mediolanum International Funds Ltd lifted its holdings in shares of Ferrari N.V. (NYSE:RACE) by 15.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,978 shares of the company’s stock after purchasing an additional 5,510 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Ferrari were worth $13,620,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fideuram Asset Management Ireland dac purchased a new position in Ferrari during the fourth quarter worth about $29,000. Entrust Financial LLC purchased a new stake in Ferrari in the 4th quarter valued at about $33,000. Bellevue Asset Management LLC purchased a new stake in Ferrari in the 1st quarter valued at about $34,000. Bamco Inc. NY increased its stake in shares of Ferrari by 790.9% during the 4th quarter. Bamco Inc. NY now owns 98 shares of the company’s stock valued at $36,000 after acquiring an additional 87 shares during the last quarter. Finally, CoreCap Advisors LLC increased its stake in shares of Ferrari by 70.0% during the 4th quarter. CoreCap Advisors LLC now owns 102 shares of the company’s stock valued at $38,000 after acquiring an additional 42 shares during the last quarter.

Analyst Upgrades and Downgrades

RACE has been the topic of several research analyst reports. UBS Group raised their target price on shares of Ferrari from $483.00 to $497.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Wolfe Research assumed coverage on shares of Ferrari in a research report on Tuesday, July 7th. They set an “outperform” rating for the company. Morgan Stanley raised shares of Ferrari from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $388.00 to $438.00 in a research report on Monday, June 15th. Jefferies Financial Group raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, March 31st. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of Ferrari in a report on Tuesday, June 2nd. Three research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $471.97.

Ferrari Stock Performance

Shares of NYSE:RACE opened at $377.68 on Monday. The firm has a market capitalization of $88.36 billion, a PE ratio of 36.24, a P/E/G ratio of 3.23 and a beta of 0.92. The company has a debt-to-equity ratio of 0.72, a current ratio of 5.20 and a quick ratio of 4.08. The business has a 50-day moving average of $356.23 and a two-hundred day moving average of $352.46. Ferrari N.V. has a 12 month low of $312.51 and a 12 month high of $519.10.

Ferrari Profile

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.