Rational Advisors LLC purchased a new position in Ferrari (NYSE:RACE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,901 shares of the company’s stock, valued at approximately $619,000.
Several other hedge funds also recently made changes to their positions in RACE. Rehmann Capital Advisory Group bought a new stake in Ferrari during the third quarter valued at approximately $263,000. Comerica Bank grew its position in Ferrari by 18.5% during the third quarter. Comerica Bank now owns 12,040 shares of the company’s stock valued at $1,411,000 after buying an additional 1,880 shares during the period. Sei Investments Co. grew its position in Ferrari by 1,401.8% during the third quarter. Sei Investments Co. now owns 95,937 shares of the company’s stock valued at $10,599,000 after buying an additional 89,549 shares during the period. Cavalier Investments LLC grew its position in Ferrari by 35.7% during the third quarter. Cavalier Investments LLC now owns 11,400 shares of the company’s stock valued at $1,259,000 after buying an additional 3,000 shares during the period. Finally, Royal Bank of Canada grew its position in Ferrari by 142.2% during the second quarter. Royal Bank of Canada now owns 10,758 shares of the company’s stock valued at $925,000 after buying an additional 6,316 shares during the period. Hedge funds and other institutional investors own 31.52% of the company’s stock.
Shares of Ferrari (RACE) traded down $0.90 during trading hours on Thursday, reaching $123.82. 511,285 shares of the company’s stock traded hands, compared to its average volume of 709,296. The company has a debt-to-equity ratio of 2.30, a current ratio of 3.27 and a quick ratio of 2.65. Ferrari has a twelve month low of $65.05 and a twelve month high of $131.20. The stock has a market capitalization of $23,570.00 and a P/E ratio of 43.91.
Ferrari (NYSE:RACE) last released its earnings results on Thursday, February 1st. The company reported $0.84 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.03). Ferrari had a return on equity of 88.98% and a net margin of 15.74%. The company had revenue of $840.00 million during the quarter, compared to analysts’ expectations of $869.74 million. During the same period last year, the firm posted $0.69 EPS. Ferrari’s quarterly revenue was up .5% compared to the same quarter last year. research analysts expect that Ferrari will post 3.3 EPS for the current year.
Several analysts recently issued reports on RACE shares. Zacks Investment Research lowered shares of Ferrari from a “hold” rating to a “sell” rating in a research report on Wednesday, November 8th. BidaskClub lowered shares of Ferrari from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 9th. UBS Group restated a “buy” rating and set a $160.00 target price (up from $129.00) on shares of Ferrari in a research report on Monday, February 26th. Jefferies Group lifted their price target on shares of Ferrari to $130.00 and gave the company a “buy” rating in a report on Friday, December 8th. Finally, HSBC started coverage on shares of Ferrari in a report on Monday, December 11th. They set a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. Ferrari has an average rating of “Hold” and a consensus target price of $123.57.
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Ferrari NV, known as New Business Netherlands NV, is an Italy-based company, incorporated in the Netherlands, that is engaged in designing, manufacturing and selling sports cars under the Ferrari brand. Its products include nine sports car models, including seven sports cars: 458 Italia, 488 GTB, 458 Spider, 488 Spider, F12 Berlinetta, 458 Speciale and 458 Speciale A; as well as two grand tourer (GT) cars: California T and FF.
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