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.
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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