Marshall Wace North America L.P. acquired a new position in Ferrari NV (NYSE:RACE) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 111,014 shares of the company’s stock, valued at approximately $15,199,000.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Marshall Wace LLP increased its holdings in Ferrari by 939.8% in the 3rd quarter. Marshall Wace LLP now owns 679,898 shares of the company’s stock worth $93,563,000 after acquiring an additional 614,513 shares during the last quarter. Belpointe Asset Management LLC bought a new position in Ferrari in the 3rd quarter worth about $111,000. Vanguard Group Inc. boosted its stake in Ferrari by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 3,547,789 shares of the company’s stock worth $485,729,000 after purchasing an additional 71,965 shares during the period. Rehmann Capital Advisory Group boosted its stake in Ferrari by 74,767.1% in the 3rd quarter. Rehmann Capital Advisory Group now owns 118,290 shares of the company’s stock worth $864,000 after purchasing an additional 118,132 shares during the period. Finally, Redhawk Wealth Advisors Inc. bought a new position in Ferrari in the 3rd quarter worth about $554,000. 34.54% of the stock is owned by institutional investors.
Several research analysts have commented on the company. ValuEngine upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Friday, October 26th. Zacks Investment Research downgraded Ferrari from a “buy” rating to a “hold” rating in a research note on Friday, October 5th. Morgan Stanley restated an “equal weight” rating and issued a $140.00 target price (up previously from $120.00) on shares of Ferrari in a research note on Tuesday, October 2nd. Societe Generale upgraded Ferrari from a “sell” rating to a “hold” rating and raised their target price for the stock from $94.00 to $130.00 in a research note on Wednesday, October 10th. Finally, Jefferies Financial Group downgraded Ferrari from a “buy” rating to a “hold” rating in a research note on Thursday, October 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $145.67.
Shares of NYSE RACE opened at $104.84 on Friday. Ferrari NV has a 52 week low of $102.37 and a 52 week high of $149.85. The company has a quick ratio of 3.40, a current ratio of 4.05 and a debt-to-equity ratio of 1.53. The stock has a market capitalization of $20.32 billion, a price-to-earnings ratio of 32.87, a P/E/G ratio of 1.86 and a beta of 1.40.
Ferrari (NYSE:RACE) last issued its quarterly earnings results on Monday, November 5th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.02. The firm had revenue of $838.00 million during the quarter, compared to the consensus estimate of $864.50 million. Ferrari had a return on equity of 62.07% and a net margin of 21.34%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the company posted $0.74 EPS. On average, equities analysts forecast that Ferrari NV will post 3.57 earnings per share for the current fiscal year.
Ferrari N.V., through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports cars, GT cars, special series cars, limited edition supercars, limited editions series, and one-off cars; and open air roadsters and two-seater mid-rear-engined roadsters.
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