Virtu Financial LLC Takes $605,000 Position in Ferrari NV (RACE)

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Virtu Financial LLC acquired a new stake in Ferrari NV (NYSE:RACE) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 4,420 shares of the company’s stock, valued at approximately $605,000.

Other institutional investors have also recently made changes to their positions in the company. Partners Capital Investment Group LLP increased its holdings in Ferrari by 26.2% in the second quarter. Partners Capital Investment Group LLP now owns 30,022 shares of the company’s stock valued at $4,053,000 after buying an additional 6,225 shares during the last quarter. Geneva Partners LLC bought a new stake in Ferrari in the second quarter valued at about $397,000. AXA grew its holdings in shares of Ferrari by 7.1% during the third quarter. AXA now owns 399,093 shares of the company’s stock valued at $54,640,000 after purchasing an additional 26,597 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of Ferrari by 22.9% during the second quarter. CIBC Private Wealth Group LLC now owns 14,486 shares of the company’s stock valued at $1,956,000 after purchasing an additional 2,695 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Ferrari during the second quarter valued at approximately $272,000. 34.54% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have recently commented on RACE shares. Zacks Investment Research raised Ferrari from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 21st. Jefferies Financial Group lowered Ferrari from a “buy” rating to a “hold” rating in a report on Thursday, October 11th. ValuEngine raised Ferrari from a “hold” rating to a “buy” rating in a report on Friday, October 26th. HSBC raised Ferrari from a “hold” rating to a “buy” rating in a report on Wednesday, August 29th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $140.00 target price (up from $120.00) on shares of Ferrari in a report on Tuesday, October 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. Ferrari currently has an average rating of “Hold” and an average price target of $145.67.

NYSE:RACE opened at $104.84 on Friday. The company has a market cap of $20.32 billion, a PE ratio of 32.87, a P/E/G ratio of 1.86 and a beta of 1.40. Ferrari NV has a 52 week low of $102.37 and a 52 week high of $149.85. The company has a debt-to-equity ratio of 1.53, a current ratio of 4.05 and a quick ratio of 3.40.

Ferrari (NYSE:RACE) last posted its earnings results on Monday, November 5th. The company reported $0.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.02. The company had revenue of $838.00 million during the quarter, compared to analyst estimates of $864.50 million. Ferrari had a return on equity of 62.07% and a net margin of 21.34%. The business’s revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.74 earnings per share. Equities research analysts anticipate that Ferrari NV will post 3.57 EPS for the current year.

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Ferrari Company Profile

Ferrari N.V., through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports cars, GT cars, special series cars, limited edition supercars, limited editions series, and one-off cars; and open air roadsters and two-seater mid-rear-engined roadsters.

Read More: Book Value Per Share in Stock Trading

Want to see what other hedge funds are holding RACE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ferrari NV (NYSE:RACE).

Institutional Ownership by Quarter for Ferrari (NYSE:RACE)

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