PFG Investments LLC Sells 570 Shares of Ferrari (NYSE:RACE)

PFG Investments LLC lowered its position in Ferrari (NYSE:RACE) by 12.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,904 shares of the company’s stock after selling 570 shares during the period. PFG Investments LLC’s holdings in Ferrari were worth $1,658,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Linden Thomas Advisory Services LLC increased its holdings in shares of Ferrari by 26.0% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 998 shares of the company’s stock worth $424,000 after acquiring an additional 206 shares in the last quarter. Fifth Third Bancorp raised its holdings in Ferrari by 9.8% during the 4th quarter. Fifth Third Bancorp now owns 393 shares of the company’s stock worth $167,000 after buying an additional 35 shares during the period. Bennett Selby Investments LP bought a new position in Ferrari in the fourth quarter valued at approximately $502,000. Exchange Traded Concepts LLC acquired a new position in shares of Ferrari in the fourth quarter valued at approximately $545,000. Finally, Janney Montgomery Scott LLC increased its position in shares of Ferrari by 22.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 84,925 shares of the company’s stock worth $36,080,000 after acquiring an additional 15,668 shares in the last quarter.

Ferrari Trading Up 0.0 %

Shares of RACE stock opened at $432.40 on Tuesday. Ferrari has a fifty-two week low of $338.73 and a fifty-two week high of $498.23. The stock’s fifty day moving average price is $433.73 and its two-hundred day moving average price is $448.62. 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 cap of $105.40 billion, a PE ratio of 50.22, a P/E/G ratio of 3.70 and a beta of 0.95.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on RACE shares. StockNews.com cut shares of Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. UBS Group upped 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. Evercore ISI lifted their target price on Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. raised shares of Ferrari from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $385.00 to $525.00 in a research note on Friday, October 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.