Calamos Wealth Management LLC Purchases 384 Shares of Ferrari (NYSE:RACE)

Calamos Wealth Management LLC increased its holdings in Ferrari (NYSE:RACE) by 9.5% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 4,406 shares of the company’s stock after purchasing an additional 384 shares during the quarter. Calamos Wealth Management LLC’s holdings in Ferrari were worth $1,799,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in RACE. IAG Wealth Partners LLC purchased a new position in shares of Ferrari in the 1st quarter valued at approximately $33,000. Register Financial Advisors LLC acquired a new stake in shares of Ferrari during the first quarter worth about $33,000. Pittenger & Anderson Inc. boosted its holdings in shares of Ferrari by 168.6% in the 1st quarter. Pittenger & Anderson Inc. now owns 94 shares of the company’s stock valued at $41,000 after acquiring an additional 59 shares during the last quarter. Spire Wealth Management purchased a new stake in Ferrari in the first quarter valued at $46,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Ferrari in the first quarter worth about $48,000.

Ferrari Price Performance

Shares of NYSE:RACE traded up $6.90 during midday trading on Friday, hitting $483.94. 214,685 shares of the stock were exchanged, compared to its average volume of 275,129. The company has a current ratio of 4.35, a quick ratio of 3.32 and a debt-to-equity ratio of 1.01. The company has a 50 day moving average price of $427.61 and a 200-day moving average price of $419.55. Ferrari has a twelve month low of $285.02 and a twelve month high of $484.26. The stock has a market cap of $89.41 billion, a P/E ratio of 61.81, a PEG ratio of 4.85 and a beta of 0.99.

Ferrari (NYSE:RACE) last announced its quarterly earnings data on Thursday, August 1st. The company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.08. The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.63 billion. Ferrari had a net margin of 21.84% and a return on equity of 45.13%. The company’s revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.99 EPS. On average, research analysts forecast that Ferrari will post 8.71 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on RACE shares. Barclays raised shares of Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, August 2nd. UBS Group lifted their target price on shares of Ferrari from $448.00 to $478.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Finally, Jefferies Financial Group assumed coverage on shares of Ferrari in a research note on Friday, May 10th. They set a “hold” rating and a $403.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Ferrari has an average rating of “Moderate Buy” and a consensus target price of $461.67.

About Ferrari

Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.