Mesirow Financial Investment Management Inc. Cuts Stock Position in Ferrari N.V. $RACE

Mesirow Financial Investment Management Inc. lessened its holdings in shares of Ferrari N.V. (NYSE:RACE) by 55.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 485 shares of the company’s stock after selling 615 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Ferrari were worth $239,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Callan Family Office LLC boosted its stake in shares of Ferrari by 58.5% during the second quarter. Callan Family Office LLC now owns 4,378 shares of the company’s stock valued at $2,148,000 after acquiring an additional 1,615 shares during the last quarter. TD Asset Management Inc increased its holdings in Ferrari by 1.1% during the 2nd quarter. TD Asset Management Inc now owns 415,850 shares of the company’s stock worth $203,677,000 after purchasing an additional 4,434 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in Ferrari by 26.5% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,599 shares of the company’s stock worth $5,205,000 after purchasing an additional 2,220 shares during the last quarter. Rheos Capital Works Inc. grew its position in shares of Ferrari by 14.1% in the 2nd quarter. Rheos Capital Works Inc. now owns 161,700 shares of the company’s stock worth $79,353,000 after acquiring an additional 20,000 shares in the last quarter. Finally, Bridgewater Advisors Inc. acquired a new position in shares of Ferrari in the 1st quarter worth approximately $492,000.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on RACE shares. Deutsche Bank Aktiengesellschaft upgraded Ferrari from a “hold” rating to a “buy” rating in a research report on Tuesday, September 2nd. Citigroup cut their target price on Ferrari from $579.00 to $529.00 and set a “buy” rating on the stock in a research report on Thursday, October 16th. UBS Group cut their target price on Ferrari from $579.00 to $529.00 and set a “buy” rating on the stock in a research report on Thursday, October 16th. Zacks Research downgraded Ferrari from a “strong-buy” rating to a “hold” rating in a report on Friday, August 29th. Finally, HSBC upgraded Ferrari from a “hold” rating to a “buy” rating and set a $470.00 price target on the stock in a report on Thursday, October 2nd. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Ferrari currently has an average rating of “Buy” and an average target price of $501.14.

Ferrari Stock Performance

Shares of NYSE RACE opened at $404.46 on Monday. The business’s 50-day moving average price is $453.19 and its two-hundred day moving average price is $467.78. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.09 and a quick ratio of 3.94. Ferrari N.V. has a one year low of $372.31 and a one year high of $519.10. The company has a market capitalization of $98.03 billion, a P/E ratio of 41.74, a price-to-earnings-growth ratio of 4.28 and a beta of 1.08.

Ferrari (NYSE:RACE) last issued its earnings results on Thursday, July 31st. The company reported $2.70 EPS for the quarter, beating analysts’ consensus estimates of $2.57 by $0.13. Ferrari had a return on equity of 45.41% and a net margin of 22.95%.The firm had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the previous year, the company posted $2.29 earnings per share. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. Analysts anticipate that Ferrari N.V. will post 9.22 earnings per share for the current fiscal year.

Ferrari Company Profile

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.