U S Global Investors Inc. Has $2.68 Million Stock Holdings in Ferrari N.V. $RACE

U S Global Investors Inc. increased its position in Ferrari N.V. (NYSE:RACE) by 36.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,925 shares of the company’s stock after purchasing an additional 2,110 shares during the quarter. U S Global Investors Inc.’s holdings in Ferrari were worth $2,682,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of RACE. Norges Bank acquired a new position in Ferrari during the fourth quarter worth approximately $779,894,000. Groupama Asset Managment lifted its position in shares of Ferrari by 5.7% in the third quarter. Groupama Asset Managment now owns 16,990,621 shares of the company’s stock valued at $8,244,189,000 after buying an additional 916,821 shares during the last quarter. Ninety One UK Ltd acquired a new stake in shares of Ferrari in the fourth quarter valued at approximately $338,785,000. Morgan Stanley boosted its stake in shares of Ferrari by 43.4% during the 4th quarter. Morgan Stanley now owns 2,546,564 shares of the company’s stock worth $941,109,000 after acquiring an additional 771,039 shares during the period. Finally, Viking Global Investors LP boosted its stake 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 worth $353,526,000 after acquiring an additional 585,872 shares during the period.

Trending Headlines about Ferrari

Here are the key news stories impacting Ferrari this week:

• Positive Sentiment: Mercedes boss Toto Wolff said Ferrari could challenge Mercedes for the rest of the F1 season, a comment that may boost sentiment around Ferrari’s competitive outlook and brand visibility. Toto Wolff warns Ferrari will challenge Mercedes for ‘rest of the F1 season’
• Positive Sentiment: Ferrari’s Madrid track filming day and its data-gathering efforts ahead of rivals highlight ongoing F1 development, which can support enthusiasm around the team’s performance momentum. First look: Ferrari gives Madrid track its F1 debut on filming day Ferrari begins gathering what could be crucial data ahead of its F1 rivals
• Neutral Sentiment: Several articles covered Ferrari cars in drag races and enthusiast content, which may help brand exposure but is unlikely to materially affect the stock. Is the Ferrari Pista faster than the Ferrari F8 Tributo in drag race? Lamborghini Revuelto faces Ferrari 296 GTB in drag race
• Negative Sentiment: An article on Ferrari’s Austria engine upgrade said the race exposed problems the update could not fix, which could weigh on sentiment if investors view it as a sign of persistent performance issues in F1. Ferrari brought an engine upgrade to Austria – then the race exposed everything it could not fix
• Negative Sentiment: Coverage of a Ferrari race car crash at Watkins Glen and a classic Mini destroying a tuned Ferrari in a drag race may be mildly negative for brand optics, though likely limited in financial impact. Ferrari race car crash at Watkins Glen during 130 mph run Classic Mini Destroys Tuned Ferrari 488 In Wild Drag Race Battle

Ferrari Stock Performance

Shares of NYSE:RACE traded up $2.11 on Friday, reaching $376.78. 250,131 shares of the company’s stock were exchanged, compared to its average volume of 498,534. Ferrari N.V. has a twelve month low of $312.51 and a twelve month high of $519.10. The company has a fifty day moving average of $352.36 and a 200-day moving average of $352.64. The company has a market capitalization of $88.15 billion, a price-to-earnings ratio of 36.16, a PEG ratio of 3.22 and a beta of 0.92. The company has a current ratio of 5.20, a quick ratio of 4.08 and a debt-to-equity ratio of 0.72.

Wall Street Analyst Weigh In

RACE has been the topic of a number of research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Ferrari in a research note on Wednesday. Wolfe Research started coverage on shares of Ferrari in a research report on Tuesday. They set an “outperform” rating for the company. Morgan Stanley upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $388.00 to $438.00 in a report on Monday, June 15th. UBS Group increased their price objective on shares of Ferrari from $483.00 to $497.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Ferrari in a report on Tuesday, June 2nd. Three analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $471.97.

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.