National Asset Management Inc. Sells 283 Shares of Ferrari (NYSE:RACE)

National Asset Management Inc. decreased its position in Ferrari (NYSE:RACE) by 17.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,329 shares of the company’s stock after selling 283 shares during the quarter. National Asset Management Inc.’s holdings in Ferrari were worth $275,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of RACE. Dimensional Fund Advisors LP lifted its holdings in Ferrari by 33.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 55,812 shares of the company’s stock valued at $12,810,000 after acquiring an additional 14,112 shares during the period. The PNC Financial Services Group Inc. lifted its holdings in Ferrari by 15.2% in the first quarter. The PNC Financial Services Group Inc. now owns 10,381 shares of the company’s stock valued at $2,173,000 after acquiring an additional 1,367 shares during the period. Sowell Financial Services LLC lifted its holdings in Ferrari by 79.6% in the first quarter. Sowell Financial Services LLC now owns 878 shares of the company’s stock valued at $176,000 after acquiring an additional 389 shares during the period. Advisors Asset Management Inc. lifted its holdings in Ferrari by 3.9% in the first quarter. Advisors Asset Management Inc. now owns 3,331 shares of the company’s stock valued at $697,000 after acquiring an additional 124 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its holdings in Ferrari by 170.9% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 886 shares of the company’s stock valued at $186,000 after acquiring an additional 559 shares during the period. 31.77% of the stock is currently owned by institutional investors.

A number of analysts have commented on the company. Zacks Investment Research upgraded Ferrari from a “sell” rating to a “hold” rating in a research report on Wednesday. Oddo Bhf assumed coverage on Ferrari in a research report on Thursday, September 9th. They issued an “outperform” rating for the company. Exane BNP Paribas cut Ferrari from an “outperform” rating to a “neutral” rating and set a $256.00 price target for the company. in a research report on Monday, September 20th. Oddo Securities started coverage on Ferrari in a research report on Thursday, September 9th. They set an “outperform” rating for the company. Finally, BNP Paribas cut Ferrari from an “outperform” rating to a “neutral” rating and set a $256.00 target price for the company. in a research report on Thursday, September 16th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $236.18.

NYSE RACE opened at $217.46 on Friday. The stock has a market capitalization of $40.18 billion, a PE ratio of 39.97, a P/E/G ratio of 2.67 and a beta of 0.89. The business has a 50 day simple moving average of $216.58 and a two-hundred day simple moving average of $210.34. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.63 and a quick ratio of 2.94. Ferrari has a 1-year low of $176.03 and a 1-year high of $233.66.

Ferrari (NYSE:RACE) last posted its quarterly earnings data on Sunday, August 1st. The company reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.08). The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.05 billion. Ferrari had a net margin of 21.11% and a return on equity of 43.39%. Ferrari’s revenue for the quarter was up 81.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.04 earnings per share. On average, analysts anticipate that Ferrari will post 4.73 EPS for the current fiscal year.

Ferrari Profile

Ferrari NV is a holding company, which engages in the design, engineering, production, and sale of luxury sports cars. The firm’s models include the F12Berlinetta, 488GTB, 488 Spider, 458 Speciale, California T, the LaFerrari Hybrid, LaFerrari, and the FF four-wheel drive. It participates in car racing such as Formula One.

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Institutional Ownership by Quarter for Ferrari (NYSE:RACE)

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