Aviva PLC Acquires 39,883 Shares of Ferrari NV (NYSE:RACE)

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Aviva PLC raised its stake in Ferrari NV (NYSE:RACE) by 95.8% in the first quarter, Holdings Channel reports. The fund owned 81,530 shares of the company’s stock after purchasing an additional 39,883 shares during the quarter. Aviva PLC’s holdings in Ferrari were worth $12,694,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of RACE. Coastal Investment Advisors Inc. grew its holdings in shares of Ferrari by 2.0% during the 4th quarter. Coastal Investment Advisors Inc. now owns 3,222 shares of the company’s stock valued at $542,000 after purchasing an additional 62 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Ferrari by 5.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,233 shares of the company’s stock valued at $188,000 after buying an additional 67 shares in the last quarter. Sowell Financial Services LLC grew its stake in shares of Ferrari by 48.6% during the fourth quarter. Sowell Financial Services LLC now owns 214 shares of the company’s stock worth $35,000 after buying an additional 70 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Ferrari by 3.2% during the first quarter. Sequoia Financial Advisors LLC now owns 2,357 shares of the company’s stock worth $360,000 after buying an additional 73 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Ferrari by 39.8% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 309 shares of the company’s stock worth $51,000 after buying an additional 88 shares in the last quarter. 34.09% of the stock is owned by hedge funds and other institutional investors.

NYSE:RACE traded down $8.19 on Thursday, reaching $167.49. 9,495 shares of the stock traded hands, compared to its average volume of 485,527. The company has a current ratio of 3.98, a quick ratio of 3.39 and a debt-to-equity ratio of 1.39. Ferrari NV has a 1-year low of $127.73 and a 1-year high of $180.95. The company’s 50 day moving average is $161.01 and its 200-day moving average is $161.68. The firm has a market capitalization of $32.41 billion, a price-to-earnings ratio of 41.65, a price-to-earnings-growth ratio of 4.91 and a beta of 0.92.

Ferrari (NYSE:RACE) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.99 EPS for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.09. Ferrari had a net margin of 18.23% and a return on equity of 47.13%. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $852.32 million. On average, equities research analysts forecast that Ferrari NV will post 2.98 EPS for the current fiscal year.

A number of brokerages recently weighed in on RACE. Credit Suisse Group reduced their price objective on Ferrari from $205.00 to $198.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 5th. CSFB reduced their price target on Ferrari from $205.00 to $198.00 and set an “outperform” rating on the stock in a report on Tuesday, May 5th. JPMorgan Chase & Co. lowered their price objective on Ferrari from $134.00 to $133.00 and set a “neutral” rating for the company in a research note on Tuesday, May 5th. Zacks Investment Research upgraded shares of Ferrari from a “sell” rating to a “hold” rating in a research report on Thursday, April 30th. Finally, Jefferies Financial Group lowered shares of Ferrari from a “hold” rating to an “underperform” rating and set a $108.00 target price on the stock. in a report on Tuesday, April 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company’s stock. Ferrari has an average rating of “Buy” and an average target price of $175.80.

About Ferrari

Ferrari N.V., through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hypercars; Fuori series, one-off, and track cars; and Icona cars. It also provides non-registered racing cars; and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.

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Institutional Ownership by Quarter for Ferrari (NYSE:RACE)

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