Cerebellum GP LLC bought a new position in shares of Ferrari NV (NYSE:RACE) during the 4th quarter, HoldingsChannel.com reports. The fund bought 2,612 shares of the company’s stock, valued at approximately $260,000.
Several other institutional investors have also recently bought and sold shares of RACE. Vanguard Group Inc increased its stake in shares of Ferrari by 2.1% during 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 last quarter. Rehmann Capital Advisory Group increased its stake in shares of Ferrari by 446.8% during the 3rd quarter. Rehmann Capital Advisory Group now owns 864 shares of the company’s stock worth $118,000 after purchasing an additional 706 shares during the last quarter. Marshall Wace North America L.P. purchased a new stake in shares of Ferrari during the 3rd quarter worth approximately $15,199,000. Marshall Wace LLP increased its stake in shares of Ferrari by 939.8% during the 3rd quarter. Marshall Wace LLP now owns 679,898 shares of the company’s stock worth $93,563,000 after purchasing an additional 614,513 shares during the last quarter. Finally, Belpointe Asset Management LLC purchased a new stake in shares of Ferrari during the 3rd quarter worth approximately $111,000. 34.48% of the stock is currently owned by hedge funds and other institutional investors.
Ferrari stock opened at $110.84 on Friday. Ferrari NV has a 1-year low of $93.85 and a 1-year high of $149.85. The company has a market capitalization of $21.01 billion, a P/E ratio of 34.75, a price-to-earnings-growth ratio of 2.00 and a beta of 1.34. The company has a quick ratio of 3.40, a current ratio of 4.05 and a debt-to-equity ratio of 1.53.
Ferrari (NYSE:RACE) last released its quarterly earnings results on Monday, November 5th. The company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.02. The firm had revenue of $838.00 million during the quarter, compared to analyst estimates of $864.50 million. Ferrari had a net margin of 21.34% and a return on equity of 62.07%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the business earned $0.74 EPS. Sell-side analysts forecast that Ferrari NV will post 3.57 EPS for the current year.
Several equities research analysts have recently issued reports on RACE shares. Jefferies Financial Group lowered shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Thursday, October 11th. ValuEngine upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Friday, October 26th. Morgan Stanley reiterated an “equal weight” rating and issued a $140.00 price objective (up from $120.00) on shares of Ferrari in a research note on Tuesday, October 2nd. Credit Suisse Group lifted their price objective on shares of Ferrari from $156.00 to $160.00 and gave the company an “outperform” rating in a research note on Thursday, September 20th. Finally, Zacks Investment Research lowered shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Friday, October 5th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Ferrari presently has an average rating of “Hold” and an average price target of $148.80.
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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.
Further Reading: Net Asset Value
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