Renaissance Technologies LLC lifted its position in shares of Ferrari (NYSE:RACE) by 770.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 308,546 shares of the company’s stock after buying an additional 273,097 shares during the quarter. Renaissance Technologies LLC owned approximately 0.16% of Ferrari worth $32,414,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Financial Gravity Companies Inc. bought a new position in shares of Ferrari during the 4th quarter worth $104,000. Parallel Advisors LLC grew its position in shares of Ferrari by 554.3% during the 3rd quarter. Parallel Advisors LLC now owns 1,060 shares of the company’s stock worth $117,000 after buying an additional 898 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new position in shares of Ferrari during the 4th quarter worth $116,000. Cerebellum GP LLC bought a new position in shares of Ferrari during the 4th quarter worth $125,000. Finally, Fieldpoint Private Securities LLC bought a new position in shares of Ferrari during the 3rd quarter worth $204,000. 32.48% of the stock is currently owned by institutional investors and hedge funds.
Shares of Ferrari (NYSE RACE) opened at $121.26 on Tuesday. Ferrari has a 12-month low of $67.07 and a 12-month high of $131.20. The firm has a market capitalization of $23,041.05, a PE ratio of 38.23, a P/E/G ratio of 2.65 and a beta of 1.35. The company has a debt-to-equity ratio of 2.30, a quick ratio of 2.65 and a current ratio of 3.27.
Ferrari (NYSE:RACE) last issued its quarterly earnings data on Thursday, February 1st. The company reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.03). Ferrari had a net margin of 15.74% and a return on equity of 88.98%. The company had revenue of $840.00 million for the quarter, compared to the consensus estimate of $869.74 million. During the same period in the previous year, the business earned $0.69 EPS. Ferrari’s revenue for the quarter was up .5% compared to the same quarter last year. equities analysts expect that Ferrari will post 3.3 EPS for the current year.
A number of research firms have recently issued reports on RACE. UBS reissued a “buy” rating and set a $160.00 price target (up previously from $129.00) on shares of Ferrari in a research report on Monday, February 26th. Zacks Investment Research raised Ferrari from a “hold” rating to a “buy” rating and set a $134.00 price target on the stock in a research report on Friday, February 2nd. Credit Suisse Group assumed coverage on Ferrari in a research report on Monday, March 12th. They set an “outperform” rating and a $150.00 price target on the stock. Morgan Stanley raised their price objective on Ferrari from $100.00 to $105.00 and gave the company an “underweight” rating in a research report on Wednesday, February 14th. Finally, HSBC assumed coverage on Ferrari in a research report on Monday, December 11th. They set a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $126.88.
ILLEGAL ACTIVITY WARNING: “Renaissance Technologies LLC Purchases 273,097 Shares of Ferrari (RACE)” was reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this report on another publication, it was copied illegally and republished in violation of U.S. & international copyright and trademark law. The original version of this report can be read at https://ledgergazette.com/2018/03/20/renaissance-technologies-llc-purchases-273097-shares-of-ferrari-race.html.
Ferrari Company Profile
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.
Want to see what other hedge funds are holding RACE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ferrari (NYSE:RACE).
Receive News & Ratings for Ferrari Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ferrari and related companies with MarketBeat.com's FREE daily email newsletter.