Neuburgh Advisers LLC Grows Position in Ferrari NV (NYSE:RACE)

Neuburgh Advisers LLC grew its holdings in shares of Ferrari NV (NYSE:RACE) by 16.7% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,078 shares of the company’s stock after purchasing an additional 154 shares during the period. Neuburgh Advisers LLC’s holdings in Ferrari were worth $175,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Nissay Asset Management Corp Japan ADV raised its holdings in shares of Ferrari by 26.0% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 23,124 shares of the company’s stock worth $3,094,000 after purchasing an additional 4,778 shares during the period. Raymond James & Associates grew its position in Ferrari by 25.2% in the 1st quarter. Raymond James & Associates now owns 42,506 shares of the company’s stock valued at $5,705,000 after buying an additional 8,542 shares in the last quarter. AKO Capital LLP boosted its position in shares of Ferrari by 4.3% during the 1st quarter. AKO Capital LLP now owns 3,187,667 shares of the company’s stock valued at $427,150,000 after purchasing an additional 132,631 shares in the last quarter. New York State Common Retirement Fund boosted its position in shares of Ferrari by 19.7% during the 1st quarter. New York State Common Retirement Fund now owns 185,554 shares of the company’s stock valued at $24,827,000 after purchasing an additional 30,554 shares in the last quarter. Finally, Greenleaf Trust bought a new position in shares of Ferrari during the 1st quarter valued at about $245,000. Institutional investors and hedge funds own 36.60% of the company’s stock.

Shares of Ferrari stock traded down $1.39 on Friday, reaching $153.05. 7,881 shares of the company were exchanged, compared to its average volume of 467,825. Ferrari NV has a one year low of $93.85 and a one year high of $170.54. The company has a market capitalization of $28.54 billion, a price-to-earnings ratio of 38.25, a PEG ratio of 2.29 and a beta of 1.35. The company has a current ratio of 3.77, a quick ratio of 3.20 and a debt-to-equity ratio of 1.48. The company has a 50-day moving average of $159.04 and a 200 day moving average of $148.05.



Ferrari (NYSE:RACE) last posted its quarterly earnings results on Friday, August 2nd. The company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.06. Ferrari had a return on equity of 50.99% and a net margin of 23.42%. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Analysts predict that Ferrari NV will post 4.03 earnings per share for the current year.

RACE has been the subject of a number of analyst reports. Redburn Partners began coverage on shares of Ferrari in a research note on Wednesday, June 5th. They set a “neutral” rating and a $143.04 price objective for the company. Zacks Investment Research lowered shares of Ferrari from a “buy” rating to a “hold” rating in a research report on Thursday, August 15th. Societe Generale upgraded Ferrari from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Bank of America increased their price target on Ferrari from $150.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Finally, Credit Suisse Group restated an “outperform” rating and issued a $185.00 price objective (up previously from $158.00) on shares of Ferrari in a research note on Thursday, June 20th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $168.48.

About Ferrari

Ferrari N.V., through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hypercars; Fuori series, one-off, and track cars; and Icona cars. It also provides non-registered racing cars; and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.

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Institutional Ownership by Quarter for Ferrari (NYSE:RACE)

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