Wellington Management Group LLP Acquires New Stake in Ferrari N.V. $RACE

Wellington Management Group LLP acquired a new stake in Ferrari N.V. (NYSE:RACE) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 362,817 shares of the company’s stock, valued at approximately $134,543,000. Wellington Management Group LLP owned approximately 0.16% of Ferrari as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RACE. Fideuram Asset Management Ireland dac purchased a new position in shares of Ferrari in the fourth quarter worth about $29,000. Entrust Financial LLC acquired a new stake in Ferrari in the 4th quarter valued at about $33,000. Bellevue Asset Management LLC acquired a new stake in Ferrari in the 1st quarter valued at about $34,000. Bamco Inc. NY lifted its stake in Ferrari by 790.9% in the 4th quarter. Bamco Inc. NY now owns 98 shares of the company’s stock worth $36,000 after purchasing an additional 87 shares in the last quarter. Finally, Dunhill Financial LLC acquired a new position in shares of Ferrari during the 2nd quarter worth approximately $38,000.

Analyst Ratings Changes

RACE has been the subject of a number of analyst reports. Evercore restated an “outperform” rating and issued a $485.00 price target on shares of Ferrari in a research report on Friday, July 31st. UBS Group lowered their price objective on Ferrari from $497.00 to $490.00 and set a “buy” rating on the stock in a research note on Friday, July 31st. Needham & Company LLC upgraded Ferrari to a “neutral” rating in a report on Friday, July 31st. Sanford C. Bernstein raised their target price on Ferrari from $402.00 to $460.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Ferrari in a report on Wednesday, July 8th. Three research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Ferrari presently has a consensus rating of “Moderate Buy” and an average price target of $477.15.

Ferrari Stock Up 0.6%

Shares of NYSE RACE opened at $422.94 on Tuesday. The company has a market capitalization of $98.95 billion, a P/E ratio of 39.27, a P/E/G ratio of 3.61 and a beta of 0.91. The company has a debt-to-equity ratio of 0.86, a current ratio of 4.85 and a quick ratio of 3.70. The company has a 50 day simple moving average of $391.72 and a 200-day simple moving average of $363.75. Ferrari N.V. has a 1 year low of $312.51 and a 1 year high of $504.49.

Ferrari (NYSE:RACE) last released its quarterly earnings data on Friday, July 31st. The company reported $2.99 EPS for the quarter, beating 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 firm had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same period in the prior year, the firm posted $2.38 earnings per share. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. On average, equities research analysts predict that Ferrari N.V. will post 11.18 earnings per share for the current year.

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.