M&G Investment Management Ltd. reduced its holdings in Ferrari (NYSE:RACE – Get Rating) by 7.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,490 shares of the company’s stock after selling 2,438 shares during the period. M&G Investment Management Ltd.’s holdings in Ferrari were worth $6,114,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of RACE. Hexagon Capital Partners LLC boosted its stake in shares of Ferrari by 112.9% in the third quarter. Hexagon Capital Partners LLC now owns 181 shares of the company’s stock worth $33,000 after acquiring an additional 96 shares during the last quarter. Crewe Advisors LLC acquired a new stake in shares of Ferrari in the second quarter worth approximately $47,000. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Ferrari by 238.6% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 281 shares of the company’s stock worth $52,000 after acquiring an additional 198 shares during the last quarter. City State Bank boosted its stake in shares of Ferrari by 159.1% in the third quarter. City State Bank now owns 285 shares of the company’s stock worth $54,000 after acquiring an additional 175 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in shares of Ferrari by 16,950.0% in the second quarter. First Horizon Advisors Inc. now owns 341 shares of the company’s stock worth $61,000 after acquiring an additional 339 shares during the last quarter. 32.21% of the stock is owned by institutional investors and hedge funds.
Ferrari Trading Up 0.0 %
NYSE:RACE opened at $235.92 on Friday. Ferrari has a 52 week low of $167.45 and a 52 week high of $247.26. The company has a debt-to-equity ratio of 1.21, a quick ratio of 3.74 and a current ratio of 4.47. The stock’s fifty day moving average is $218.14 and its two-hundred day moving average is $204.03.
Ferrari (NYSE:RACE – Get Rating) last issued its quarterly earnings data on Wednesday, November 2nd. The company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.10. Ferrari had a return on equity of 40.02% and a net margin of 19.00%. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.15 billion. On average, equities research analysts predict that Ferrari will post 5.08 EPS for the current year.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on RACE shares. Citigroup raised Ferrari from a “sell” rating to a “neutral” rating and set a $230.60 price target on the stock in a research note on Monday, January 9th. HSBC upgraded Ferrari from a “hold” rating to a “buy” rating in a research report on Thursday, October 27th. Morgan Stanley reduced their price objective on Ferrari from $300.00 to $280.00 and set an “overweight” rating on the stock in a research report on Thursday, November 3rd. Royal Bank of Canada lifted their price objective on Ferrari from €261.00 ($280.65) to €265.00 ($284.95) in a research report on Monday, December 12th. Finally, StockNews.com downgraded Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, November 9th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Ferrari currently has a consensus rating of “Moderate Buy” and a consensus target price of $241.56.
Ferrari Company Profile
Ferrari N.V., through its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hyper cars; one-off and track cars; and Icona cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.