Y Intercept Hong Kong Ltd Has $14.34 Million Position in Ferrari N.V. $RACE

Y Intercept Hong Kong Ltd raised its stake in shares of Ferrari N.V. (NYSE:RACE) by 2,195.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,801 shares of the company’s stock after buying an additional 37,111 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Ferrari were worth $14,339,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Benjamin Edwards Inc. lifted its position in shares of Ferrari by 3.7% during the second quarter. Benjamin Edwards Inc. now owns 613 shares of the company’s stock worth $299,000 after purchasing an additional 22 shares in the last quarter. Wealth Alliance LLC lifted its position in shares of Ferrari by 2.0% during the third quarter. Wealth Alliance LLC now owns 1,251 shares of the company’s stock worth $607,000 after purchasing an additional 25 shares in the last quarter. Pacific Sun Financial Corp lifted its position in shares of Ferrari by 2.5% during the third quarter. Pacific Sun Financial Corp now owns 1,008 shares of the company’s stock worth $489,000 after purchasing an additional 25 shares in the last quarter. Evergreen Capital Management LLC lifted its position in shares of Ferrari by 1.4% during the second quarter. Evergreen Capital Management LLC now owns 1,928 shares of the company’s stock worth $946,000 after purchasing an additional 26 shares in the last quarter. Finally, Horizon Investments LLC lifted its position in shares of Ferrari by 33.3% during the third quarter. Horizon Investments LLC now owns 104 shares of the company’s stock worth $50,000 after purchasing an additional 26 shares in the last quarter.

Ferrari Stock Down 3.0%

Shares of RACE stock opened at $354.77 on Friday. The firm has a fifty day moving average of $345.59 and a 200-day moving average of $354.15. The company has a quick ratio of 4.08, a current ratio of 5.20 and a debt-to-equity ratio of 0.72. Ferrari N.V. has a 12-month low of $312.51 and a 12-month high of $519.10. The company has a market capitalization of $83.00 billion, a price-to-earnings ratio of 34.04, a P/E/G ratio of 3.46 and a beta of 0.93.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Ferrari in a research report on Friday, April 10th. Jefferies Financial Group upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Tuesday, March 31st. Morgan Stanley set a $420.00 target price on shares of Ferrari in a research report on Monday, February 16th. UBS Group cut their price objective on shares of Ferrari from $555.00 to $483.00 and set a “buy” rating on the stock in a report on Wednesday, April 1st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Ferrari from $407.00 to $447.00 and gave the company an “overweight” rating in a report on Tuesday, March 3rd. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $469.06.

Ferrari 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.