Quantinno Capital Management LP Purchases 4,363 Shares of Ferrari N.V. $RACE

Key Points

• Quantinno Capital Management increased its Ferrari stake by 19.9% in the first quarter, purchasing 4,363 shares and bringing its total holdings to 26,293 shares valued at approximately $8.87 million.
• Several other institutional investors also raised their positions, including AQR Capital Management, which increased its Ferrari holdings by 78.9%; Woodline Partners initiated a new position.
• Ferrari shares opened at $403.02, while analysts maintain a “Moderate Buy” consensus with an average price target of $477.15, despite mixed ratings from UBS, Citigroup and others.

Quantinno Capital Management LP grew its position in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 19.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,293 shares of the company's stock after purchasing an additional 4,363 shares during the quarter. Quantinno Capital Management LP's holdings in Ferrari were worth $8,867,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. AQR Capital Management LLC increased its holdings in Ferrari by 78.9% in the first quarter. AQR Capital Management LLC now owns 3,568 shares of the company's stock valued at $1,527,000 after purchasing an additional 1,574 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Ferrari by 31.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 194 shares of the company's stock worth $82,000 after buying an additional 46 shares during the period. Woodline Partners LP acquired a new position in Ferrari during the 1st quarter worth about $1,519,000. Sivia Capital Partners LLC grew its position in shares of Ferrari by 67.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 913 shares of the company's stock valued at $448,000 after buying an additional 368 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Ferrari by 7.5% in the second quarter. Rhumbline Advisers now owns 1,370 shares of the company's stock valued at $672,000 after buying an additional 96 shares during the period.

Ferrari Trading Up 0.4%

Shares of RACE stock opened at $403.02 on Wednesday. Ferrari N.V. has a fifty-two week low of $312.51 and a fifty-two week high of $504.49. The company has a debt-to-equity ratio of 0.86, a quick ratio of 3.70 and a current ratio of 4.85. The stock has a 50 day simple moving average of $367.64 and a two-hundred day simple moving average of $353.51. The company has a market cap of $94.29 billion, a P/E ratio of 37.42, a PEG ratio of 3.46 and a beta of 0.91.

Analyst Upgrades and Downgrades

RACE has been the subject of a number of analyst reports. UBS Group lowered their price objective on Ferrari from $497.00 to $490.00 and set a "buy" rating for the company in a research report on Friday. Weiss Ratings reissued a "hold (c)" rating on shares of Ferrari in a research report on Wednesday, July 8th. Evercore restated an "outperform" rating and set a $485.00 price target on shares of Ferrari in a report on Friday. Citigroup restated a "neutral" rating on shares of Ferrari in a research report on Monday. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $442.00 price objective on shares of Ferrari in a research note on Friday. Three research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $477.15.

About Ferrari

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.

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