Marsico Capital Management LLC Buys 10,385 Shares of Ferrari (NYSE:RACE)

Marsico Capital Management LLC grew its position in Ferrari (NYSE:RACE - Free Report) by 33.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,714 shares of the company's stock after acquiring an additional 10,385 shares during the period. Ferrari accounts for 0.5% of Marsico Capital Management LLC's portfolio, making the stock its 28th largest holding. Marsico Capital Management LLC's holdings in Ferrari were worth $17,035,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of RACE. Rothschild Investment LLC bought a new stake in Ferrari during the 2nd quarter worth about $29,000. IAG Wealth Partners LLC bought a new stake in shares of Ferrari during the first quarter valued at approximately $33,000. Register Financial Advisors LLC acquired a new stake in shares of Ferrari in the first quarter valued at approximately $33,000. Valley Wealth Managers Inc. bought a new position in Ferrari in the 2nd quarter worth approximately $33,000. Finally, Denver PWM LLC acquired a new position in Ferrari during the 2nd quarter worth $35,000.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. StockNews.com raised Ferrari from a "hold" rating to a "buy" rating in a research note on Monday, August 5th. Morgan Stanley boosted their price objective on Ferrari from $400.00 to $520.00 and gave the stock an "overweight" rating in a report on Tuesday, August 27th. Barclays raised shares of Ferrari from an "equal weight" rating to an "overweight" rating in a research note on Friday, August 2nd. Finally, UBS Group boosted their price target on shares of Ferrari from $448.00 to $478.00 and gave the stock a "buy" rating in a research note on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $481.67.

Ferrari Trading Down 1.1 %

Shares of NYSE:RACE traded down $5.01 during mid-day trading on Wednesday, reaching $457.81. The stock had a trading volume of 308,406 shares, compared to its average volume of 273,268. The firm has a 50 day simple moving average of $448.45 and a two-hundred day simple moving average of $429.05. Ferrari has a twelve month low of $285.02 and a twelve month high of $498.23. The firm has a market cap of $84.58 billion, a PE ratio of 59.11, a price-to-earnings-growth ratio of 4.98 and a beta of 1.00. The company has a current ratio of 4.35, a quick ratio of 3.32 and a debt-to-equity ratio of 1.01.

Ferrari (NYSE:RACE - Get Free Report) last posted its earnings results on Thursday, August 1st. The company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.08. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.63 billion. Ferrari had a net margin of 21.84% and a return on equity of 45.13%. The business's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period last year, the business posted $1.99 earnings per share. On average, research analysts predict that Ferrari will post 8.71 EPS for the current fiscal year.

About Ferrari

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.