Miura Global Management LLC Has $1.65 Million Holdings in Ferrari (NYSE:RACE)

Miura Global Management LLC trimmed its position in Ferrari (NYSE:RACE) by 41.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,500 shares of the company’s stock after selling 2,500 shares during the quarter. Ferrari makes up approximately 1.9% of Miura Global Management LLC’s portfolio, making the stock its 16th largest position. Miura Global Management LLC’s holdings in Ferrari were worth $1,645,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Jennison Associates LLC raised its position in Ferrari by 910.1% during the third quarter. Jennison Associates LLC now owns 2,926,616 shares of the company’s stock valued at $1,368,622,000 after buying an additional 2,636,869 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Ferrari by 47,023.5% in the 3rd quarter. International Assets Investment Management LLC now owns 1,180,916 shares of the company’s stock valued at $5,551,600,000 after purchasing an additional 1,178,410 shares during the period. Marshall Wace LLP increased its holdings in shares of Ferrari by 108.4% in the 2nd quarter. Marshall Wace LLP now owns 887,108 shares of the company’s stock valued at $361,961,000 after purchasing an additional 461,409 shares during the period. BNP Paribas Financial Markets lifted its position in shares of Ferrari by 89.9% in the third quarter. BNP Paribas Financial Markets now owns 220,418 shares of the company’s stock worth $103,621,000 after purchasing an additional 104,366 shares in the last quarter. Finally, Dnca Finance acquired a new stake in shares of Ferrari during the second quarter worth approximately $41,165,000.

Ferrari Stock Performance

RACE opened at $444.48 on Wednesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. The company has a market cap of $82.12 billion, a PE ratio of 51.62, a price-to-earnings-growth ratio of 4.10 and a beta of 0.95. The stock has a 50-day moving average of $457.54 and a 200-day moving average of $443.96. Ferrari has a 52-week low of $330.15 and a 52-week high of $498.23.

Ferrari (NYSE:RACE) last announced its earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.03). Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the company earned $1.98 EPS. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, equities research analysts forecast that Ferrari will post 8.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Evercore ISI upped their price objective on shares of Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. raised shares of Ferrari from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $385.00 to $525.00 in a research note on Friday, October 11th. Morgan Stanley lifted their price objective on Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a research report on Tuesday, August 27th. StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, UBS Group lifted their price target on Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Ferrari has a consensus rating of “Moderate Buy” and a consensus price target of $507.14.

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.