Silphium Asset Management Ltd Reduces Holdings in Ferrari N.V. $RACE

Silphium Asset Management Ltd reduced its stake in Ferrari N.V. (NYSE:RACE) by 29.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,320 shares of the company’s stock after selling 2,200 shares during the quarter. Silphium Asset Management Ltd’s holdings in Ferrari were worth $2,581,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of RACE. AQR Capital Management LLC lifted its stake 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 buying an additional 1,574 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Ferrari by 31.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 194 shares of the company’s stock valued at $82,000 after acquiring an additional 46 shares during the period. Woodline Partners LP purchased a new position in Ferrari in the 1st quarter worth $1,519,000. Sivia Capital Partners LLC lifted its position 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 acquiring an additional 368 shares during the period. Finally, GAMMA Investing LLC grew its stake in Ferrari by 41.2% during 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 during the last quarter.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RACE. BNP Paribas Exane upgraded Ferrari to a “strong-buy” rating in a research note on Thursday, December 11th. HSBC reissued a “hold” rating on shares of Ferrari in a research report on Tuesday, January 13th. UBS Group dropped their price objective on shares of Ferrari from $563.00 to $555.00 and set a “buy” rating on the stock in a report on Friday, January 9th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $395.00 price objective on shares of Ferrari in a research note on Friday, January 9th. Finally, Loop Capital set a $481.67 target price on shares of Ferrari in a research report on Thursday, December 4th. Three 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 issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $480.67.

Ferrari Price Performance

NYSE:RACE opened at $336.57 on Tuesday. 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 50 day moving average price of $366.42 and a 200-day moving average price of $420.45. Ferrari N.V. has a 1-year low of $331.01 and a 1-year high of $519.10. The firm has a market cap 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 released its quarterly earnings results on Tuesday, November 4th. The company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.35 by $0.15. The company had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.94 billion. Ferrari had a net margin of 22.65% and a return on equity of 44.20%. Equities research analysts forecast that Ferrari N.V. will post 9.22 EPS for the current 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.