GF Fund Management CO. LTD. Invests $11.33 Million in Ferrari (NYSE:RACE)

GF Fund Management CO. LTD. purchased a new stake in Ferrari (NYSE:RACE - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 26,676 shares of the company's stock, valued at approximately $11,333,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Hanson & Doremus Investment Management acquired a new position in shares of Ferrari in the 4th quarter valued at $26,000. Kestra Investment Management LLC acquired a new position in Ferrari in the 4th quarter valued at $45,000. Plato Investment Management Ltd acquired a new position in Ferrari in the 4th quarter valued at $53,000. Newbridge Financial Services Group Inc. increased its stake in Ferrari by 705.9% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 137 shares of the company's stock valued at $58,000 after buying an additional 120 shares during the period. Finally, Pittenger & Anderson Inc. increased its stake in Ferrari by 53.2% in the 4th quarter. Pittenger & Anderson Inc. now owns 144 shares of the company's stock valued at $61,000 after buying an additional 50 shares during the period.

Ferrari Stock Performance

NYSE RACE traded up $6.22 during trading hours on Tuesday, hitting $482.44. The company had a trading volume of 439,155 shares, compared to its average volume of 333,129. Ferrari has a fifty-two week low of $391.54 and a fifty-two week high of $509.13. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. The business has a fifty day simple moving average of $451.83 and a 200-day simple moving average of $448.17. The firm has a market cap of $116.93 billion, a P/E ratio of 52.73, a price-to-earnings-growth ratio of 4.43 and a beta of 1.13.

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

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Barclays upgraded shares of Ferrari from an "equal weight" rating to an "overweight" rating in a research report on Friday, March 28th. Wall Street Zen lowered shares of Ferrari from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. UBS Group boosted their price objective on shares of Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. decreased 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. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Ferrari in a research report on Thursday, February 6th. They issued a "hold" rating on the stock. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $526.25.

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.