L & S Advisors Inc Takes Position in Ferrari NV (NYSE:RACE)

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L & S Advisors Inc bought a new stake in Ferrari NV (NYSE:RACE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 20,597 shares of the company’s stock, valued at approximately $3,345,000.

Other large investors have also bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of Ferrari by 74.5% during the second quarter. BlackRock Inc. now owns 991,102 shares of the company’s stock worth $159,984,000 after buying an additional 423,139 shares during the period. US Bancorp DE boosted its stake in shares of Ferrari by 19.7% during the second quarter. US Bancorp DE now owns 3,742 shares of the company’s stock worth $603,000 after buying an additional 615 shares during the period. HighTower Advisors LLC boosted its stake in shares of Ferrari by 6.2% during the second quarter. HighTower Advisors LLC now owns 3,621 shares of the company’s stock worth $584,000 after buying an additional 211 shares during the period. United Capital Financial Advisers LLC boosted its stake in shares of Ferrari by 1,828.9% during the second quarter. United Capital Financial Advisers LLC now owns 29,724 shares of the company’s stock worth $4,827,000 after buying an additional 28,183 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its stake in shares of Ferrari by 5.4% during the second quarter. Parametric Portfolio Associates LLC now owns 178,062 shares of the company’s stock worth $28,743,000 after buying an additional 9,151 shares during the period. 36.60% of the stock is currently owned by hedge funds and other institutional investors.

Shares of RACE stock traded down $0.44 during midday trading on Friday, reaching $154.00. 36,123 shares of the company traded hands, compared to its average volume of 467,825. The firm’s 50 day simple moving average is $159.04 and its two-hundred day simple moving average is $148.05. Ferrari NV has a 1-year low of $93.85 and a 1-year high of $170.54. The company has a debt-to-equity ratio of 1.48, a current ratio of 3.77 and a quick ratio of 3.20. The firm has a market cap of $28.54 billion, a PE ratio of 38.31, a price-to-earnings-growth ratio of 2.29 and a beta of 1.35.

Ferrari (NYSE:RACE) last issued its quarterly earnings data on Friday, August 2nd. The company reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.03 by $0.06. Ferrari had a net margin of 23.42% and a return on equity of 50.99%. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.08 billion. As a group, research analysts anticipate that Ferrari NV will post 4.03 earnings per share for the current fiscal year.

Several brokerages have recently weighed in on RACE. Goldman Sachs Group upgraded shares of Ferrari from a “neutral” rating to a “buy” rating and set a $182.00 target price for the company in a research note on Tuesday, August 13th. Credit Suisse Group restated an “outperform” rating and issued a $185.00 price objective (up previously from $158.00) on shares of Ferrari in a research report on Thursday, June 20th. Bank of America raised their price objective on shares of Ferrari from $150.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Zacks Investment Research downgraded shares of Ferrari from a “buy” rating to a “hold” rating in a research report on Thursday, August 15th. Finally, Morgan Stanley set a $175.00 price objective on shares of Ferrari and gave the company a “buy” rating in a research report on Wednesday, September 4th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $168.48.

Ferrari Company Profile

Ferrari N.V., through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hypercars; Fuori series, one-off, and track cars; and Icona cars. It also provides non-registered racing cars; and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.

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Institutional Ownership by Quarter for Ferrari (NYSE:RACE)

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