Biglari Sardar Buys 16,500 Shares of Ferrari N.V. $RACE

Biglari Sardar lifted its stake in shares of Ferrari N.V. (NYSE:RACE) by 49.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,600 shares of the company’s stock after buying an additional 16,500 shares during the quarter. Ferrari comprises about 33.0% of Biglari Sardar’s holdings, making the stock its biggest holding. Biglari Sardar’s holdings in Ferrari were worth $16,787,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Ferrari by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 5,213,450 shares of the company’s stock valued at $1,937,388,000 after buying an additional 58,506 shares during the last quarter. Amundi lifted its position in Ferrari by 11.1% in the fourth quarter. Amundi now owns 3,303,264 shares of the company’s stock valued at $1,220,754,000 after acquiring an additional 330,896 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Ferrari by 8.4% in the first quarter. Bank of New York Mellon Corp now owns 2,808,855 shares of the company’s stock valued at $950,657,000 after acquiring an additional 218,830 shares in the last quarter. Morgan Stanley boosted its stake in Ferrari by 43.4% in the fourth quarter. Morgan Stanley now owns 2,546,564 shares of the company’s stock valued at $941,109,000 after acquiring an additional 771,039 shares in the last quarter. Finally, Norges Bank acquired a new position in Ferrari in the fourth quarter valued at $779,894,000.

Ferrari Price Performance

Shares of NYSE:RACE opened at $380.09 on Tuesday. The company has a 50-day simple moving average of $361.11 and a 200-day simple moving average of $352.31. Ferrari N.V. has a one year low of $312.51 and a one year high of $515.00. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.08 and a current ratio of 5.20. The stock has a market capitalization of $88.92 billion, a price-to-earnings ratio of 36.47, a PEG ratio of 3.09 and a beta of 0.92.

Analyst Ratings Changes

A number of research firms have recently commented on RACE. UBS Group lifted their target price on Ferrari from $483.00 to $497.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Wolfe Research started coverage on Ferrari in a research note on Tuesday, July 7th. They set an “outperform” rating on the stock. Jefferies Financial Group raised Ferrari from a “hold” rating to a “buy” rating in a research report on Tuesday, March 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of Ferrari in a research note on Wednesday, July 8th. Finally, Morgan Stanley raised Ferrari from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $388.00 to $438.00 in a report on Monday, June 15th. Three investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Ferrari currently has a consensus rating of “Moderate Buy” and an average target price of $471.97.

About Ferrari

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.