Choreo LLC Trims Stake in Ferrari (NYSE:RACE)

Choreo LLC lowered its position in Ferrari (NYSE:RACE) by 9.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,420 shares of the company’s stock after selling 457 shares during the quarter. Choreo LLC’s holdings in Ferrari were worth $1,886,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Ferrari by 156.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,400 shares of the company’s stock valued at $2,731,000 after acquiring an additional 3,900 shares during the period. Stratos Wealth Partners LTD. raised its stake in shares of Ferrari by 6.6% in the fourth quarter. Stratos Wealth Partners LTD. now owns 3,550 shares of the company’s stock valued at $1,509,000 after acquiring an additional 219 shares during the period. WESPAC Advisors SoCal LLC raised its stake in shares of Ferrari by 4.3% in the fourth quarter. WESPAC Advisors SoCal LLC now owns 3,592 shares of the company’s stock valued at $1,526,000 after acquiring an additional 149 shares during the period. Calamos Wealth Management LLC raised its stake in shares of Ferrari by 1.3% in the fourth quarter. Calamos Wealth Management LLC now owns 4,583 shares of the company’s stock valued at $1,947,000 after acquiring an additional 60 shares during the period. Finally, Baltimore Washington Financial Advisors Inc. raised its stake in shares of Ferrari by 5.5% in the fourth quarter. Baltimore Washington Financial Advisors Inc. now owns 10,411 shares of the company’s stock valued at $4,423,000 after acquiring an additional 545 shares during the period.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferrari in a research note on Thursday. They issued a “hold” rating on the stock. Evercore ISI raised their price target on shares of Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Barclays downgraded shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday. UBS Group raised their price target on shares of Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $507.14.

Ferrari Trading Down 3.3 %

NYSE RACE opened at $446.27 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. The company has a market capitalization of $108.78 billion, a price-to-earnings ratio of 51.83, a price-to-earnings-growth ratio of 3.72 and a beta of 0.95. The company’s 50-day simple moving average is $435.35 and its two-hundred day simple moving average is $449.25. Ferrari has a one year low of $375.31 and a one year high of $498.23.

Ferrari (NYSE:RACE) last posted its earnings results on Tuesday, November 5th. The company reported $2.08 EPS for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.03). Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period last year, the business posted $1.98 EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. Equities analysts forecast that Ferrari will post 8.59 EPS for the current fiscal year.

About Ferrari

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.