Jag Capital Management LLC Has $14.61 Million Stake in Ferrari (NYSE:RACE)

Jag Capital Management LLC raised its stake in Ferrari (NYSE:RACE) by 44.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,190 shares of the company’s stock after purchasing an additional 9,604 shares during the quarter. Ferrari accounts for about 1.8% of Jag Capital Management LLC’s portfolio, making the stock its 22nd biggest position. Jag Capital Management LLC’s holdings in Ferrari were worth $14,608,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of RACE. Addison Advisors LLC boosted its holdings in Ferrari by 13.6% during the third quarter. Addison Advisors LLC now owns 217 shares of the company’s stock worth $102,000 after purchasing an additional 26 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Ferrari during the 3rd quarter worth approximately $33,000. Axxcess Wealth Management LLC boosted its stake in shares of Ferrari by 20.2% in the 3rd quarter. Axxcess Wealth Management LLC now owns 601 shares of the company’s stock worth $283,000 after buying an additional 101 shares during the last quarter. Legacy Capital Wealth Partners LLC boosted its stake in shares of Ferrari by 93.8% in the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 1,490 shares of the company’s stock worth $700,000 after buying an additional 721 shares during the last quarter. Finally, Lindbrook Capital LLC grew its holdings in shares of Ferrari by 15.8% in the third quarter. Lindbrook Capital LLC now owns 573 shares of the company’s stock valued at $269,000 after acquiring an additional 78 shares in the last quarter.

Ferrari Price Performance

RACE opened at $455.85 on Monday. Ferrari has a one year low of $330.15 and a one year high of $498.23. The company has a fifty day moving average price of $470.58 and a 200-day moving average price of $441.59. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.32 and a current ratio of 4.57.

Ferrari (NYSE:RACE) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.03). Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the previous year, the firm posted $1.98 EPS. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. Sell-side analysts anticipate that Ferrari will post 8.75 EPS for the current year.

Wall Street Analyst Weigh In

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

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.