Janney Montgomery Scott LLC Cuts Stock Position in Ferrari N.V. $RACE

Janney Montgomery Scott LLC lessened its holdings in Ferrari N.V. (NYSE:RACE) by 68.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,111 shares of the company’s stock after selling 34,837 shares during the period. Janney Montgomery Scott LLC’s holdings in Ferrari were worth $5,453,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Fideuram Asset Management Ireland dac bought a new stake in shares of Ferrari in the 4th quarter worth about $29,000. Community Bank N.A. bought a new position in shares of Ferrari in the 3rd quarter valued at about $33,000. Entrust Financial LLC purchased a new position in Ferrari in the fourth quarter worth about $33,000. Bamco Inc. NY grew its position in 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 in the last quarter. Finally, CoreCap Advisors LLC increased its stake in Ferrari by 70.0% during the fourth quarter. CoreCap Advisors LLC now owns 102 shares of the company’s stock worth $38,000 after acquiring an additional 42 shares during the last quarter.

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 Trading Up 0.1%

RACE opened at $385.23 on Friday. The stock has a market cap of $90.12 billion, a price-to-earnings ratio of 36.97, a P/E/G ratio of 3.68 and a beta of 0.92. The stock’s 50 day moving average price is $348.91 and its 200-day moving average price is $352.28. Ferrari N.V. has a one year low of $312.51 and a one year high of $519.10. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.08 and a current ratio of 5.20.

Analyst Upgrades and Downgrades

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