Ferrari (NYSE:RACE) Holdings Trimmed by PDT Partners LLC

PDT Partners LLC lowered its holdings in Ferrari (NYSE:RACE) by 46.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,710 shares of the company’s stock after selling 2,363 shares during the period. PDT Partners LLC’s holdings in Ferrari were worth $1,266,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of RACE. Virtu Financial LLC purchased a new position in shares of Ferrari during the 1st quarter valued at $293,000. Cetera Investment Advisers raised its stake in shares of Ferrari by 133.8% during the 1st quarter. Cetera Investment Advisers now owns 9,594 shares of the company’s stock worth $4,185,000 after purchasing an additional 5,490 shares in the last quarter. Cetera Advisors LLC lifted its holdings in shares of Ferrari by 56.1% during the 1st quarter. Cetera Advisors LLC now owns 3,524 shares of the company’s stock valued at $1,537,000 after buying an additional 1,267 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Ferrari by 12.5% in the first quarter. EverSource Wealth Advisors LLC now owns 243 shares of the company’s stock worth $101,000 after buying an additional 27 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its position in Ferrari by 15.9% during the second quarter. Massmutual Trust Co. FSB ADV now owns 321 shares of the company’s stock valued at $131,000 after acquiring an additional 44 shares in the last quarter.

Ferrari Stock Up 0.6 %

NYSE RACE opened at $434.16 on Monday. The company’s fifty day moving average is $459.00 and its two-hundred day moving average is $443.68. Ferrari has a 52-week low of $330.15 and a 52-week 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.

Ferrari (NYSE:RACE) last released its earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.03). The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.80 billion. Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the business earned $1.98 earnings per share. On average, sell-side analysts anticipate that Ferrari will post 8.58 earnings per share for the current year.

Analyst Ratings Changes

RACE has been the subject of a number of recent research reports. Evercore ISI upped their price objective on shares of Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. UBS Group raised their price objective on Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Morgan Stanley upped their target price on Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 27th. JPMorgan Chase & Co. raised shares of Ferrari from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $385.00 to $525.00 in a research report on Friday, October 11th. Finally, StockNews.com downgraded shares of Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $507.14.

Ferrari 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.