Arosa Capital Management LP Sells 1,300 Shares of Ferrari (NYSE:RACE)

Arosa Capital Management LP cut its holdings in Ferrari (NYSE:RACE) by 16.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,600 shares of the company’s stock after selling 1,300 shares during the quarter. Ferrari comprises approximately 1.2% of Arosa Capital Management LP’s holdings, making the stock its 18th largest position. Arosa Capital Management LP’s holdings in Ferrari were worth $3,103,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in RACE. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Ferrari during the 3rd quarter valued at about $29,000. Planning Capital Management Corp acquired a new stake in shares of Ferrari in the third quarter valued at about $30,000. Rothschild Investment LLC bought a new position in shares of Ferrari in the second quarter worth about $29,000. Ashton Thomas Securities LLC bought a new stake in Ferrari during the 3rd quarter valued at approximately $33,000. Finally, Valley Wealth Managers Inc. acquired a new stake in Ferrari in the 2nd quarter valued at approximately $33,000.

Analyst Ratings Changes

RACE has been the subject of several research reports. Morgan Stanley increased 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 shares of Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. raised shares of Ferrari from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $385.00 to $525.00 in a research report on Friday, October 11th. UBS Group boosted their price target on Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Evercore ISI raised their price objective on Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $507.14.

Ferrari Stock Up 0.6 %

Shares of Ferrari stock opened at $434.16 on Monday. Ferrari has a 1-year low of $330.15 and a 1-year high of $498.23. The firm’s 50-day moving average price is $459.00 and its two-hundred day moving average price is $443.68. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93.

Ferrari (NYSE:RACE) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $2.08 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 business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period in the prior year, the firm posted $1.98 EPS. Ferrari’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, sell-side analysts expect that Ferrari will post 8.58 EPS for the current year.

Ferrari 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.