Ferrari’s (NYSE:RACE) CEO Camilleri Buying Shares

Ferrari’s (NYSE:RACE) CEO Camilleri Buying Shares

$RACE

Last December Ferrari (NYSE:RACE) CEO Louis C. Camilleri’s purchased company stock, and he is now in the Pole position to earn millions of dollars, as the company drives forward on all 12 cylinders.

Last July, Ferrari announced MR. Camilleri, former Chairman & CEO of Philip Morris International, was to take the helm following the untimely death of CEO & Chairman Sergio Marchionne.

At the time, many shareholders found the news startling and their reaction put Ferrari back as shares got hammered, but in just 8 months later they are back on their winning pace.

Mr. Camilleri’s decision to buy shares for the 1st time on 14 December 2018 has made his moderate purchase of RACE stock worth over $1-M, and came 2 weeks before Ferrari announced a share buy back program, leading way to a 27% return so far.

During the earnings call on 31 January, Mr. Camilleri told analysts the iconic Italian Supercar maker could boost its financial targets forY 2020.

“We have a stronger order book, we are very bullish on the business.” 

The share price of RACE moved up by 11% on that day, post its Q-4 Y 2018 earnings release Vs the S&P Euro Stoxx 600 index return of 0.04% on the same day.

Ferrari’s stock price increase is primarily driven by earnings beats, and the upward trajectory at the EBITDA level continues, which will be the case going forward as confirmed by the Ferrari management guidance for Y 2019.

The RACE Buyback Program: On 28 December 2018 Ferrari announced to commencement of its 1st tranche of its share buyback as part of its multi-year share buyback program worth nearly $2-B, which is expected to be completed by Y 2022.

Ferrari’s Brand: Ferrari became the world’s strongest brand, with a score of 94.8 out of 100 and an AAA+ rating just last month.

The Italian supercar manufacturer claimed the title according to the latest Brand Finance Global 500 2019 report launched at the World Economic Forum in Davos.

Ferrari is the Aristocrat of the automotive sector.

HeffX-LTN overall technical outlook for RACE is Bullish across the board, and there is very little resistance here and none above 140.26. All of our Key indicators are Very Bullish in here.

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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