Ferrari (NYSE:RACE) Shares Acquired by Wiser Advisor Group LLC

Wiser Advisor Group LLC increased its holdings in shares of Ferrari (NYSE:RACE) by 17.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,128 shares of the company’s stock after acquiring an additional 164 shares during the period. Ferrari makes up about 0.8% of Wiser Advisor Group LLC’s portfolio, making the stock its 29th largest holding. Wiser Advisor Group LLC’s holdings in Ferrari were worth $530,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Jennison Associates LLC boosted its stake in Ferrari by 910.1% during the 3rd quarter. Jennison Associates LLC now owns 2,926,616 shares of the company’s stock worth $1,368,622,000 after purchasing an additional 2,636,869 shares during the last quarter. International Assets Investment Management LLC boosted its position in Ferrari by 47,023.5% during the third quarter. International Assets Investment Management LLC now owns 1,180,916 shares of the company’s stock worth $5,551,600,000 after acquiring an additional 1,178,410 shares during the last quarter. Marshall Wace LLP grew its stake in Ferrari by 108.4% during the 2nd quarter. Marshall Wace LLP now owns 887,108 shares of the company’s stock valued at $361,961,000 after acquiring an additional 461,409 shares in the last quarter. Dnca Finance purchased a new stake in Ferrari during the 2nd quarter valued at about $41,165,000. Finally, Assenagon Asset Management S.A. lifted its stake in Ferrari by 904.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 110,565 shares of the company’s stock worth $51,968,000 after purchasing an additional 99,558 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms recently commented on RACE. Evercore ISI increased their price target on Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Barclays raised shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 2nd. UBS Group increased their price objective on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. upgraded Ferrari from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $385.00 to $525.00 in a research report on Friday, October 11th. Finally, StockNews.com cut Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $507.14.

Ferrari Price Performance

NYSE RACE traded up $2.02 during trading on Monday, hitting $439.64. The stock had a trading volume of 30,370 shares, compared to its average volume of 281,069. Ferrari has a twelve month low of $330.15 and a twelve month high of $498.23. 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 firm has a 50 day moving average price of $462.30 and a 200 day moving average price of $442.85.

Ferrari (NYSE:RACE) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.03). The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.98 EPS. As a group, research analysts predict that Ferrari will post 8.66 earnings per share for the current year.

Ferrari Company Profile

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.