Assetmark Inc. lifted its position in Ferrari NV (NYSE:RACE) by 5.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 89,373 shares of the company’s stock after buying an additional 4,603 shares during the period. Assetmark Inc.’s holdings in Ferrari were worth $12,236,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board increased its position in shares of Ferrari by 5.0% in the 3rd quarter. Canada Pension Plan Investment Board now owns 2,755,805 shares of the company’s stock valued at $379,623,000 after buying an additional 132,000 shares in the last quarter. Winslow Capital Management LLC increased its position in shares of Ferrari by 62.5% in the 3rd quarter. Winslow Capital Management LLC now owns 2,315,619 shares of the company’s stock valued at $317,032,000 after buying an additional 890,264 shares in the last quarter. WCM Investment Management CA increased its position in shares of Ferrari by 5.0% in the 2nd quarter. WCM Investment Management CA now owns 1,190,092 shares of the company’s stock valued at $160,674,000 after buying an additional 56,734 shares in the last quarter. Northern Trust Corp increased its position in shares of Ferrari by 0.9% in the 2nd quarter. Northern Trust Corp now owns 622,246 shares of the company’s stock valued at $84,010,000 after buying an additional 5,653 shares in the last quarter. Finally, Swiss National Bank increased its position in shares of Ferrari by 0.6% in the 2nd quarter. Swiss National Bank now owns 582,984 shares of the company’s stock valued at $79,073,000 after buying an additional 3,279 shares in the last quarter. Institutional investors and hedge funds own 34.54% of the company’s stock.
RACE has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Ferrari from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 21st. Jefferies Financial Group lowered shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Thursday, October 11th. ValuEngine raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Friday, October 26th. HSBC raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Wednesday, August 29th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $140.00 target price (up from $120.00) on shares of Ferrari in a research note on Tuesday, October 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $145.67.
Shares of NYSE RACE opened at $104.84 on Friday. The firm has a market capitalization of $20.48 billion, a P/E ratio of 32.87, a P/E/G ratio of 1.87 and a beta of 1.40. The company has a debt-to-equity ratio of 1.53, a current ratio of 4.05 and a quick ratio of 3.40. Ferrari NV has a 1-year low of $102.37 and a 1-year high of $149.85.
Ferrari (NYSE:RACE) last announced its earnings results on Monday, November 5th. The company reported $0.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.02. The firm had revenue of $838.00 million during the quarter, compared to analyst estimates of $864.50 million. Ferrari had a net margin of 21.34% and a return on equity of 62.07%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.74 EPS. Sell-side analysts expect that Ferrari NV will post 3.57 earnings per share for the current year.
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Ferrari N.V., through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports cars, GT cars, special series cars, limited edition supercars, limited editions series, and one-off cars; and open air roadsters and two-seater mid-rear-engined roadsters.
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