Titan Investment Solutions Ltd Invests $10.30 Million in Ferrari N.V. $RACE

Titan Investment Solutions Ltd acquired a new position in shares of Ferrari N.V. (NYSE:RACE) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 27,881 shares of the company’s stock, valued at approximately $10,304,000. Ferrari comprises 1.2% of Titan Investment Solutions Ltd’s portfolio, making the stock its 28th largest position.

A number of other large investors have also modified their holdings of RACE. Fideuram Asset Management Ireland dac purchased a new stake in shares of Ferrari during the fourth quarter worth $29,000. Community Bank N.A. purchased a new stake in shares of Ferrari during the third quarter worth $33,000. Entrust Financial LLC purchased a new stake in shares of Ferrari during the fourth quarter worth $33,000. CoreCap Advisors LLC increased its position in shares of Ferrari by 70.0% during the fourth quarter. CoreCap Advisors LLC now owns 102 shares of the company’s stock worth $38,000 after acquiring an additional 42 shares during the period. Finally, Navalign LLC purchased a new position in Ferrari in the fourth quarter valued at $41,000.

Ferrari Stock Performance

Shares of RACE stock opened at $354.77 on Friday. The stock’s 50-day moving average is $345.59 and its two-hundred day moving average is $354.15. The firm has a market cap of $83.00 billion, a price-to-earnings ratio of 34.04, a PEG ratio of 3.46 and a beta of 0.93. Ferrari N.V. has a 1 year low of $312.51 and a 1 year high of $519.10. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.08 and a current ratio of 5.20.

Analyst Ratings Changes

A number of analysts have weighed in on RACE shares. Sanford C. Bernstein restated an “outperform” rating on shares of Ferrari in a research note on Tuesday, June 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Ferrari in a research note on Friday, April 10th. JPMorgan Chase & Co. raised their price target on Ferrari from $407.00 to $447.00 and gave the company an “overweight” rating in a research note on Tuesday, March 3rd. UBS Group cut their price target on Ferrari from $555.00 to $483.00 and set a “buy” rating on the stock in a research note on Wednesday, April 1st. Finally, Morgan Stanley set a $420.00 price objective on Ferrari in a report on Monday, February 16th. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $469.06.

About Ferrari

Ferrari N.V. (NYSE: RACE) is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company’s core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.