Dalal Street Lowers stake in Ferrari N.V. (RACE)

Ferrari N.V. (RACE) : Dalal Street reduced its stake in Ferrari N.V. by 7.37% during the most recent quarter end. The investment management company now holds a total of 1,277,192 shares of Ferrari N.V. which is valued at $55.7 Million after selling 101,600 shares in Ferrari N.V. , the firm said in a disclosure report filed with the SEC on May 13, 2016.Ferrari N.V. makes up approximately 16.73% of Dalal Street’s portfolio.

Other Hedge Funds, Including , Corsair Capital Management sold out all of its stake in RACE during the most recent quarter. The investment firm sold 16,354 shares of RACE which is valued $713,852. Janney Montgomery Scott sold out all of its stake in RACE during the most recent quarter. The investment firm sold 2,460 shares of RACE which is valued $107,379. Ssi Investment Management Inc sold out all of its stake in RACE during the most recent quarter. The investment firm sold 47,645 shares of RACE which is valued $2.1 Million.Timber Hill boosted its stake in RACE in the latest quarter, The investment management firm added 3,456 additional shares and now holds a total of 15,098 shares of Ferrari N.V. which is valued at $652,687. Ferrari N.V. makes up approx 0.05% of Timber Hill’s portfolio. Cypress Capital Management (wy) added RACE to its portfolio by purchasing 500 company shares during the most recent quarter which is valued at $22,925. Ferrari N.V. makes up approx 0.03% of Cypress Capital Management (wy)’s portfolio.

On the company’s financial health, Ferrari N.V. reported $0.41 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on May 2, 2016. Analyst had a consensus of $0.29. The company had revenue of $675.00 million for the quarter, compared to analysts expectations of $645.65 million. The company’s revenue was up 8.7% compared to the same quarter last year.

Many Wall Street Analysts have commented on Ferrari N.V.. Company shares were Reiterated by UBS on May 4, 2016 to “Buy”, Firm has raised the Price Target to $ 50 from a previous price target of $48 .

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