USS Investment Management Ltd Acquires 206,463 Shares of Ferrari N.V. $RACE

USS Investment Management Ltd lifted its holdings in Ferrari N.V. (NYSE:RACE) by 902.0% in the 1st quarter, Holdings Channel reports. The firm owned 229,353 shares of the company’s stock after buying an additional 206,463 shares during the quarter. USS Investment Management Ltd’s holdings in Ferrari were worth $76,588,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Norges Bank bought a new position in Ferrari during the fourth quarter valued at about $779,894,000. Groupama Asset Managment boosted its stake in shares of Ferrari by 5.7% during the 3rd quarter. Groupama Asset Managment now owns 16,990,621 shares of the company’s stock worth $8,244,189,000 after acquiring an additional 916,821 shares in the last quarter. Ninety One UK Ltd bought a new stake in shares of Ferrari during the 4th quarter worth about $338,785,000. Morgan Stanley increased its holdings in shares of Ferrari by 43.4% during the 4th quarter. Morgan Stanley now owns 2,546,564 shares of the company’s stock valued at $941,109,000 after acquiring an additional 771,039 shares during the last quarter. Finally, Viking Global Investors LP increased its holdings in shares of Ferrari by 432.7% during the 2nd quarter. Viking Global Investors LP now owns 721,269 shares of the company’s stock valued at $353,526,000 after acquiring an additional 585,872 shares during the last quarter.

Trending Headlines about Ferrari

Here are the key news stories impacting Ferrari this week:

• Positive Sentiment: Ferrari continued repurchasing stock under its €3.5 billion buyback plan, including 62,641 shares bought in late June, reinforcing management’s commitment to returning cash to shareholders. Ferrari Details June Share Buybacks Under €3.5 Billion Program
• Positive Sentiment: Separately, Ferrari reported additional purchases under its ongoing €250 million second-tranche buyback program, which can support earnings per share and signal confidence in the business. FERRARI N.V.: PERIODIC REPORT ON THE BUYBACK PROGRAM
• Neutral Sentiment: Reuters reported that Ferrari is joining BMW, Tesla, and others in switching some vehicle wiring from copper to cheaper aluminum, a cost-efficiency move that could help margins over time but is not yet a near-term earnings catalyst. Ferrari and BMW join Tesla, China in switch from copper to cheaper aluminium
• Neutral Sentiment: Several motorsport headlines pointed to Ferrari’s disappointing Austrian Grand Prix performance, including strategy criticism and a drop in race pace, which may weigh on sentiment around the brand but does not directly affect core automotive fundamentals. Hamilton questions Ferrari’s ‘suboptimum’ Austrian GP strategy
• Negative Sentiment: Lewis Hamilton’s comments that Ferrari got a “reality check” in Austria and reports of Charles Leclerc’s slide from P2 to P8 suggest competitive struggles, which could dampen enthusiasm among fans and investors focused on Ferrari’s racing halo effect. Ferrari got a reality check in Austria, Hamilton admits

Analyst Upgrades and Downgrades

RACE has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their price objective on Ferrari from $407.00 to $447.00 and gave the company an “overweight” rating in a research note on Tuesday, March 3rd. Morgan Stanley raised Ferrari from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $388.00 to $438.00 in a research report on Monday, June 15th. UBS Group lowered their price target on Ferrari from $555.00 to $483.00 and set a “buy” rating on the stock in a report on Wednesday, April 1st. Sanford C. Bernstein reissued an “outperform” rating on shares of Ferrari in a research report on Tuesday, June 2nd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Ferrari in a research note on Friday, April 10th. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $470.70.

Ferrari Trading Up 1.3%

Ferrari stock opened at $373.14 on Wednesday. Ferrari N.V. has a 52 week low of $312.51 and a 52 week high of $519.10. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.08 and a current ratio of 5.20. The firm has a market capitalization of $87.30 billion, a PE ratio of 35.81, a PEG ratio of 3.51 and a beta of 0.93. The business’s 50-day simple moving average is $347.79 and its 200-day simple moving average is $351.87.

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.