Titan Investment Solutions Ltd Acquires New Shares in Ferrari N.V. $RACE

Titan Investment Solutions Ltd acquired a new stake in Ferrari N.V. (NYSE:RACE) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 27,881 shares of the company’s stock, valued at approximately $10,304,000. Ferrari comprises about 1.2% of Titan Investment Solutions Ltd’s portfolio, making the stock its 28th largest position.

A number of other large investors have also recently added to or reduced their stakes in RACE. Fideuram Asset Management Ireland dac acquired a new position in Ferrari in the fourth quarter valued at approximately $29,000. Community Bank N.A. acquired a new position in Ferrari during the third quarter worth $33,000. Entrust Financial LLC acquired a new position in Ferrari during the fourth quarter worth $33,000. CoreCap Advisors LLC lifted its stake in Ferrari by 70.0% during the fourth quarter. CoreCap Advisors LLC now owns 102 shares of the company’s stock worth $38,000 after purchasing an additional 42 shares in the last quarter. Finally, Navalign LLC acquired a new position in Ferrari during the fourth quarter worth $41,000.

Ferrari Stock Down 3.0%

Ferrari stock opened at $354.77 on Friday. Ferrari N.V. has a twelve month low of $312.51 and a twelve month high of $519.10. The stock’s fifty day simple moving average is $345.59 and its 200-day simple moving average is $354.15. The company has a current ratio of 5.20, a quick ratio of 4.08 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $83.00 billion, a P/E ratio of 34.04, a P/E/G ratio of 3.46 and a beta of 0.93.

Analyst Upgrades and Downgrades

A number of research firms have commented on RACE. Weiss Ratings restated a “hold (c)” rating on shares of Ferrari in a research note on Friday, April 10th. Sanford C. Bernstein restated an “outperform” rating on shares of Ferrari in a research note on Tuesday, June 2nd. Jefferies Financial Group upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, March 31st. JPMorgan Chase & Co. upped their price target on Ferrari from $407.00 to $447.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 3rd. Finally, UBS Group decreased their price target on Ferrari from $555.00 to $483.00 and set a “buy” rating on the stock in a research note on Wednesday, April 1st. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Ferrari currently has a consensus rating of “Moderate Buy” and a consensus price target of $469.06.

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.