Ferrari N.V. $RACE Shares Acquired by Value Partners Investments Inc.

Value Partners Investments Inc. lifted its holdings in Ferrari N.V. (NYSE:RACE) by 49.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,072 shares of the company’s stock after purchasing an additional 10,000 shares during the period. Ferrari comprises about 0.8% of Value Partners Investments Inc.’s portfolio, making the stock its 25th largest holding. Value Partners Investments Inc.’s holdings in Ferrari were worth $10,190,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Benjamin Edwards Inc. grew its holdings in Ferrari by 3.7% in the second quarter. Benjamin Edwards Inc. now owns 613 shares of the company’s stock valued at $299,000 after purchasing an additional 22 shares during the period. Pacific Sun Financial Corp lifted its position in shares of Ferrari by 2.5% during the 3rd quarter. Pacific Sun Financial Corp now owns 1,008 shares of the company’s stock valued at $489,000 after buying an additional 25 shares in the last quarter. Horizon Investments LLC grew its stake in Ferrari by 33.3% in the 3rd quarter. Horizon Investments LLC now owns 104 shares of the company’s stock valued at $50,000 after acquiring an additional 26 shares during the period. Evergreen Capital Management LLC grew its stake in Ferrari by 1.4% in the 2nd quarter. Evergreen Capital Management LLC now owns 1,928 shares of the company’s stock valued at $946,000 after acquiring an additional 26 shares during the period. Finally, Enhancing Capital LLC increased its holdings in Ferrari by 1.6% in the 3rd quarter. Enhancing Capital LLC now owns 1,808 shares of the company’s stock worth $877,000 after acquiring an additional 28 shares in the last quarter.

Ferrari Trading Up 4.4%

RACE opened at $367.78 on Friday. The business’s 50 day moving average price is $347.55 and its 200 day moving average price is $352.07. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.08 and a current ratio of 5.20. The stock has a market capitalization of $86.04 billion, a PE ratio of 35.29, a P/E/G ratio of 3.36 and a beta of 0.93. Ferrari N.V. has a one year low of $312.51 and a one year high of $519.10.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RACE. Sanford C. Bernstein reiterated an “outperform” rating on shares of Ferrari in a research report on Tuesday, June 2nd. UBS Group decreased their price target on shares of Ferrari from $555.00 to $483.00 and set a “buy” rating on the stock in a research note on Wednesday, April 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Ferrari in a research note on Friday, April 10th. Jefferies Financial Group raised Ferrari from a “hold” rating to a “buy” rating in a report on Tuesday, March 31st. Finally, JPMorgan Chase & Co. raised their target price on Ferrari from $407.00 to $447.00 and gave the company an “overweight” rating in a research report on Tuesday, March 3rd. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $470.70.

Ferrari Company Profile

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.