GAMMA Investing LLC Grows Stake in Ferrari (NYSE:RACE)

GAMMA Investing LLC raised its holdings in shares of Ferrari (NYSE:RACE - Free Report) by 38,867.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,822 shares of the company's stock after purchasing an additional 21,766 shares during the quarter. GAMMA Investing LLC's holdings in Ferrari were worth $9,337,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Ferrari in the 4th quarter worth about $697,226,000. Price T Rowe Associates Inc. MD grew its position in Ferrari by 49.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,796,264 shares of the company's stock worth $763,125,000 after acquiring an additional 594,547 shares in the last quarter. Barclays PLC increased its stake in Ferrari by 198.0% during the fourth quarter. Barclays PLC now owns 853,971 shares of the company's stock worth $362,802,000 after acquiring an additional 567,407 shares during the last quarter. Marshall Wace LLP raised its position in Ferrari by 62.1% during the fourth quarter. Marshall Wace LLP now owns 1,358,467 shares of the company's stock valued at $579,561,000 after purchasing an additional 520,337 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of Ferrari by 380.7% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 243,306 shares of the company's stock valued at $107,770,000 after purchasing an additional 192,694 shares during the last quarter.

Analyst Ratings Changes

Several equities analysts have recently weighed in on RACE shares. Kepler Capital Markets raised Ferrari from a "hold" rating to a "buy" rating in a research report on Friday, March 28th. Barclays raised shares of Ferrari from an "equal weight" rating to an "overweight" rating in a research note on Friday, March 28th. Wall Street Zen downgraded shares of Ferrari from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. UBS Group lifted their price target on shares of Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $526.25.

Ferrari Trading Down 0.7%

Shares of NYSE:RACE traded down $3.59 on Monday, hitting $479.02. 211,553 shares of the company's stock were exchanged, compared to its average volume of 335,144. The stock has a market capitalization of $116.10 billion, a price-to-earnings ratio of 52.35, a price-to-earnings-growth ratio of 4.43 and a beta of 1.10. Ferrari has a 12 month low of $391.54 and a 12 month high of $509.13. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. The business's 50 day simple moving average is $460.56 and its two-hundred day simple moving average is $450.92.

Ferrari (NYSE:RACE - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.36 by $0.06. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.82 billion. Ferrari had a net margin of 22.81% and a return on equity of 46.69%. The firm's revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.95 EPS. Analysts anticipate that Ferrari will post 9.22 EPS for the current fiscal year.

Ferrari Company Profile

Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.