Marietta Investment Partners LLC Decreases Stake in Ferrari N.V. $RACE

by · The Cerbat Gem

Marietta Investment Partners LLC lowered its position in shares of Ferrari N.V. (NYSE:RACEFree Report) by 58.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,600 shares of the company’s stock after selling 9,385 shares during the quarter. Marietta Investment Partners LLC’s holdings in Ferrari were worth $2,234,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Benjamin Edwards Inc. increased its position in shares of Ferrari by 3.7% during the second quarter. Benjamin Edwards Inc. now owns 613 shares of the company’s stock valued at $299,000 after acquiring an additional 22 shares during the last quarter. Pacific Sun Financial Corp boosted its position in Ferrari by 2.5% in the third quarter. Pacific Sun Financial Corp now owns 1,008 shares of the company’s stock worth $489,000 after purchasing an additional 25 shares during the last quarter. Horizon Investments LLC boosted its position in Ferrari by 33.3% in the third quarter. Horizon Investments LLC now owns 104 shares of the company’s stock worth $50,000 after purchasing an additional 26 shares during the last quarter. Evergreen Capital Management LLC grew its stake in Ferrari by 1.4% in the 2nd quarter. Evergreen Capital Management LLC now owns 1,928 shares of the company’s stock valued at $946,000 after purchasing an additional 26 shares during the period. Finally, Enhancing Capital LLC grew its stake in Ferrari by 1.6% in the 3rd quarter. Enhancing Capital LLC now owns 1,808 shares of the company’s stock valued at $877,000 after purchasing an additional 28 shares during the period.

Ferrari News Summary

Here are the key news stories impacting Ferrari this week:

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on RACE shares. Jefferies Financial Group upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, March 31st. Sanford C. Bernstein restated an “outperform” rating on shares of Ferrari in a research report on Tuesday, June 2nd. Morgan Stanley upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $388.00 to $438.00 in a report on Monday, June 15th. UBS Group lifted their price objective on shares of Ferrari from $483.00 to $497.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Ferrari in a research note on Friday, April 10th. Three 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $471.97.

Read Our Latest Analysis on Ferrari

Ferrari Stock Performance

NYSE:RACE opened at $385.23 on Monday. The company has a market capitalization of $90.13 billion, a P/E ratio of 36.97, a P/E/G ratio of 3.68 and a beta of 0.92. The business has a fifty day simple moving average of $348.91 and a two-hundred day simple moving average of $352.16. The company has a debt-to-equity ratio of 0.72, a current ratio of 5.20 and a quick ratio of 4.08. Ferrari N.V. has a 1 year low of $312.51 and a 1 year high of $519.10.

About Ferrari

(Free Report)

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.

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