Marietta Investment Partners LLC Trims Stock Holdings in Ferrari N.V. $RACE

Marietta Investment Partners LLC lowered its holdings in Ferrari N.V. (NYSE:RACE) by 58.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,600 shares of the company’s stock after selling 9,385 shares during the period. Marietta Investment Partners LLC’s holdings in Ferrari were worth $2,234,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Fideuram Asset Management Ireland dac purchased a new position in Ferrari in the 4th quarter valued at approximately $29,000. Community Bank N.A. bought a new stake in Ferrari during the 3rd quarter valued at $33,000. Entrust Financial LLC purchased a new stake in shares of Ferrari during the fourth quarter worth $33,000. Bellevue Asset Management LLC purchased a new stake in shares of Ferrari during the first quarter worth $34,000. Finally, Bamco Inc. NY boosted its holdings in shares of Ferrari by 790.9% in the fourth quarter. Bamco Inc. NY now owns 98 shares of the company’s stock worth $36,000 after acquiring an additional 87 shares during the period.

Key Ferrari News

Here are the key news stories impacting Ferrari this week:

• Positive Sentiment: Ferrari unveiled a limited-edition V12 model with a manual gearbox, a move aimed at traditional enthusiasts and a likely support for the brand’s high-margin luxury image. Ferrari appeals to traditionalists with new V12 manual gearbox limited edition
• Positive Sentiment: Lewis Hamilton put Ferrari on pole for the Silverstone sprint, creating fresh buzz around the Ferrari F1 team and boosting the brand’s global exposure. Motor racing-ecstatic Hamilton puts Ferrari on pole for Silverstone sprint
• Positive Sentiment: Hamilton also took pole for the Silverstone sprint race, reinforcing momentum around Ferrari’s motorsport performance and media coverage. Hamilton takes pole for Silverstone sprint race
• Neutral Sentiment: Ferrari promoted its weekend racing schedule across Europe and Japan, which is supportive of brand visibility but not a major direct earnings catalyst. Weekend preview: Ferrari on track in Europe and Japan
• Negative Sentiment: One racing preview noted Ferrari may face a power deficit at Silverstone, a reminder that on-track performance risks can temper some of the positive buzz around the brand. Hamilton expects power deficit to hurt Ferrari at Silverstone

Ferrari Stock Up 0.1%

RACE opened at $385.23 on Monday. The company has a fifty day moving average price of $348.91 and a 200-day moving average price of $352.16. The firm has a market capitalization of $90.13 billion, a P/E ratio of 36.97, a price-to-earnings-growth ratio of 3.68 and a beta of 0.92. The company has a debt-to-equity ratio of 0.72, a current ratio of 5.20 and a quick ratio of 4.08. Ferrari N.V. has a one year low of $312.51 and a one year high of $519.10.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on RACE shares. Jefferies Financial Group upgraded Ferrari from a “hold” rating to a “buy” rating in a research report on Tuesday, March 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Ferrari in a report on Friday, April 10th. Morgan Stanley upgraded Ferrari from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $388.00 to $438.00 in a research note on Monday, June 15th. UBS Group lifted their target price on Ferrari from $483.00 to $497.00 and gave the company a “buy” rating in a report on Thursday. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of Ferrari in a research report on Tuesday, June 2nd. Three investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $471.97.

Ferrari 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.