Virtu Financial LLC Invests $2.96 Million in Ferrari N.V. $RACE

Virtu Financial LLC acquired a new stake in Ferrari N.V. (NYSE:RACE) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 8,005 shares of the company’s stock, valued at approximately $2,958,000.

Several other institutional investors and hedge funds also recently made changes to their positions in RACE. Benjamin Edwards Inc. lifted its stake 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 buying an additional 22 shares during the period. Wealth Alliance LLC boosted its holdings in shares of Ferrari by 2.0% during the 3rd quarter. Wealth Alliance LLC now owns 1,251 shares of the company’s stock worth $607,000 after buying an additional 25 shares in the last quarter. Pacific Sun Financial Corp grew 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 worth $489,000 after buying an additional 25 shares during the period. Horizon Investments LLC grew its position in shares of Ferrari by 33.3% during the 3rd quarter. Horizon Investments LLC now owns 104 shares of the company’s stock worth $50,000 after buying an additional 26 shares during the period. Finally, Evergreen Capital Management LLC increased its stake in shares of 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 in the last quarter.

Ferrari Trading Up 2.4%

NYSE RACE opened at $362.88 on Friday. 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 52 week low of $312.51 and a 52 week high of $519.10. The business has a 50 day moving average price of $347.58 and a 200-day moving average price of $353.34. The company has a market cap of $84.89 billion, a price-to-earnings ratio of 34.82, a P/E/G ratio of 3.38 and a beta of 0.93.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Morgan Stanley upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $388.00 to $438.00 in a research report on Monday. Weiss Ratings restated a “hold (c)” rating on shares of Ferrari in a report on Friday, April 10th. Jefferies Financial Group raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, March 31st. UBS Group dropped 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, Sanford C. Bernstein reiterated an “outperform” rating on shares of Ferrari in a report on Tuesday, June 2nd. Three investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Ferrari has a consensus rating of “Moderate Buy” and a consensus price target of $470.70.

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.