Y Intercept Hong Kong Ltd Lowers Holdings in Ferrari N.V. $RACE

Y Intercept Hong Kong Ltd lowered its holdings in Ferrari N.V. (NYSE:RACE) by 66.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,690 shares of the company’s stock after selling 3,392 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Ferrari were worth $820,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its position in shares of Ferrari by 78.9% during the first quarter. AQR Capital Management LLC now owns 3,568 shares of the company’s stock worth $1,527,000 after acquiring an additional 1,574 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Ferrari by 31.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 194 shares of the company’s stock worth $82,000 after purchasing an additional 46 shares in the last quarter. Woodline Partners LP acquired a new position in Ferrari during the 1st quarter worth $1,519,000. Sivia Capital Partners LLC increased its holdings in Ferrari by 67.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 913 shares of the company’s stock worth $448,000 after purchasing an additional 368 shares during the period. Finally, GAMMA Investing LLC raised its position in Ferrari by 41.2% in the 2nd quarter. GAMMA Investing LLC now owns 72 shares of the company’s stock valued at $35,000 after purchasing an additional 21 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RACE. HSBC restated a “hold” rating on shares of Ferrari in a research note on Tuesday, January 13th. Evercore ISI lowered their price target on shares of Ferrari from $580.00 to $475.00 and set an “outperform” rating for the company in a report on Friday, October 31st. BNP Paribas Exane upgraded shares of Ferrari to a “strong-buy” rating in a report on Thursday, December 11th. Citigroup decreased their price objective on shares of Ferrari from $579.00 to $529.00 and set a “buy” rating for the company in a research report on Thursday, October 16th. Finally, Oddo Bhf lowered Ferrari to a “neutral” rating in a report on Wednesday, December 10th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $480.67.

Ferrari Trading Up 1.0%

NYSE RACE opened at $336.57 on Tuesday. The firm’s fifty day moving average price is $366.42 and its 200 day moving average price is $420.45. Ferrari N.V. has a 12 month low of $331.01 and a 12 month high of $519.10. The company has a debt-to-equity ratio of 0.76, a current ratio of 4.90 and a quick ratio of 3.78. The company has a market capitalization of $81.58 billion, a price-to-earnings ratio of 34.00, a price-to-earnings-growth ratio of 3.62 and a beta of 0.99.

Ferrari (NYSE:RACE) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.35 by $0.15. Ferrari had a net margin of 22.65% and a return on equity of 44.20%. The firm had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.94 billion. On average, sell-side analysts expect that Ferrari N.V. will post 9.22 earnings per share for the current fiscal year.

Ferrari Company 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.