BlueCrest Capital Management Ltd purchased a new position in Ferrari (NYSE:RACE) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 11,540 shares of the company’s stock, valued at approximately $1,210,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Comerica Bank raised its holdings in shares of Ferrari by 18.5% in the third quarter. Comerica Bank now owns 12,040 shares of the company’s stock worth $1,411,000 after buying an additional 1,880 shares during the last quarter. Sei Investments Co. raised its holdings in shares of Ferrari by 1,401.8% in the third quarter. Sei Investments Co. now owns 95,937 shares of the company’s stock worth $10,599,000 after buying an additional 89,549 shares during the last quarter. Coldstream Capital Management Inc. purchased a new position in shares of Ferrari in the third quarter worth $323,000. Timber Hill LLC purchased a new position in shares of Ferrari in the third quarter worth $458,000. Finally, Oppenheimer & Co. Inc. raised its holdings in shares of Ferrari by 59.2% in the third quarter. Oppenheimer & Co. Inc. now owns 4,695 shares of the company’s stock worth $519,000 after buying an additional 1,746 shares during the last quarter. 32.49% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have issued reports on the stock. Credit Suisse Group assumed coverage on shares of Ferrari in a report on Monday. They issued an “outperform” rating and a $150.00 price target for the company. UBS Group reaffirmed a “buy” rating and issued a $160.00 price target (up previously from $129.00) on shares of Ferrari in a report on Monday, February 26th. Morgan Stanley raised their price target on shares of Ferrari from $100.00 to $105.00 and gave the stock an “underweight” rating in a report on Wednesday, February 14th. Zacks Investment Research raised shares of Ferrari from a “sell” rating to a “hold” rating in a report on Wednesday, January 24th. Finally, Jefferies Group raised their price target on shares of Ferrari to $130.00 and gave the stock a “buy” rating in a report on Friday, December 8th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $126.88.
Ferrari (NYSE:RACE) last released its quarterly earnings data on Thursday, February 1st. The company reported $0.84 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.87 by ($0.03). The business had revenue of $840.00 million during the quarter, compared to analyst estimates of $869.74 million. Ferrari had a return on equity of 88.98% and a net margin of 15.74%. The firm’s revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.69 EPS. research analysts forecast that Ferrari will post 3.3 EPS for the current fiscal year.
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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.
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