Tiptree Advisors LLC acquired a new position in Ferrari (NYSE:RACE - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 10,000 shares of the company's stock, valued at approximately $4,248,000. Ferrari makes up 4.4% of Tiptree Advisors LLC's portfolio, making the stock its 11th largest position.
Several other hedge funds have also recently bought and sold shares of RACE. HBK Sorce Advisory LLC raised its stake in shares of Ferrari by 3.6% during the 4th quarter. HBK Sorce Advisory LLC now owns 626 shares of the company's stock worth $266,000 after purchasing an additional 22 shares in the last quarter. Citizens Financial Group Inc. RI raised its stake in shares of Ferrari by 4.4% during the 4th quarter. Citizens Financial Group Inc. RI now owns 591 shares of the company's stock worth $251,000 after purchasing an additional 25 shares in the last quarter. Garde Capital Inc. raised its stake in shares of Ferrari by 5.0% during the 4th quarter. Garde Capital Inc. now owns 525 shares of the company's stock worth $223,000 after purchasing an additional 25 shares in the last quarter. PDS Planning Inc raised its stake in shares of Ferrari by 4.8% during the 4th quarter. PDS Planning Inc now owns 589 shares of the company's stock worth $250,000 after purchasing an additional 27 shares in the last quarter. Finally, Fifth Third Bancorp raised its stake in shares of Ferrari by 9.8% during the 4th quarter. Fifth Third Bancorp now owns 393 shares of the company's stock worth $167,000 after purchasing an additional 35 shares in the last quarter.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a research note on Thursday, February 6th. They set a "hold" rating for the company. Wall Street Zen downgraded Ferrari from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. JPMorgan Chase & Co. reduced their target price on Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. UBS Group boosted their target price on Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Finally, Barclays upgraded Ferrari from an "equal weight" rating to an "overweight" rating in a report on Friday, March 28th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $526.25.
View Our Latest Report on Ferrari
Ferrari Stock Performance
RACE traded up $0.15 on Friday, hitting $479.17. The company had a trading volume of 321,594 shares, compared to its average volume of 334,313. Ferrari has a 1-year low of $391.54 and a 1-year high of $509.13. The stock has a market cap of $116.14 billion, a price-to-earnings ratio of 52.37, a price-to-earnings-growth ratio of 4.43 and a beta of 1.13. The company's fifty day moving average price is $455.16 and its 200 day moving average price is $449.06. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55.
Ferrari (NYSE:RACE - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $2.42 EPS for the quarter, topping analysts' consensus estimates of $2.36 by $0.06. Ferrari had a return on equity of 46.69% and a net margin of 22.81%. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same period in the previous year, the company earned $1.95 earnings per share. The company's quarterly revenue was up 13.0% compared to the same quarter last year. Equities analysts predict that Ferrari will post 9.22 earnings per share for the current fiscal year.
Ferrari Company Profile
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Free Report)
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.
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