HPM Partners LLC acquired a new stake in shares of Ferrari (NYSE:RACE) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,093 shares of the company’s stock, valued at approximately $219,000.
A number of other institutional investors have also recently made changes to their positions in RACE. Financial Gravity Companies Inc. purchased a new position in Ferrari during the fourth quarter valued at $104,000. Shine Investment Advisory Services Inc. purchased a new position in Ferrari during the fourth quarter valued at $116,000. Parallel Advisors LLC lifted its position in Ferrari by 554.3% during the third quarter. Parallel Advisors LLC now owns 1,060 shares of the company’s stock valued at $117,000 after buying an additional 898 shares during the period. Cerebellum GP LLC purchased a new position in Ferrari during the fourth quarter valued at $125,000. Finally, Fieldpoint Private Securities LLC purchased a new position in Ferrari during the third quarter valued at $204,000. 32.49% of the stock is owned by institutional investors and hedge funds.
Ferrari (NYSE:RACE) opened at $122.79 on Friday. Ferrari has a twelve month low of $67.07 and a twelve month high of $131.20. The company has a current ratio of 3.27, a quick ratio of 2.65 and a debt-to-equity ratio of 2.30. The firm has a market capitalization of $23,099.63, a price-to-earnings ratio of 38.32, a PEG ratio of 2.66 and a beta of 1.35.
RACE has been the subject of several recent research reports. HSBC initiated coverage on Ferrari in a research report on Monday, December 11th. They set a “hold” rating for the company. Zacks Investment Research raised Ferrari from a “sell” rating to a “hold” rating in a research report on Tuesday, December 12th. Jefferies Group raised their price objective on Ferrari to $130.00 and gave the company a “buy” rating in a research report on Friday, December 8th. Morgan Stanley raised their price objective on Ferrari from $100.00 to $105.00 and gave the company an “underweight” rating in a research report on Wednesday, February 14th. Finally, UBS Group reissued a “buy” rating and set a $160.00 price objective (up previously from $129.00) on shares of Ferrari in a research report on Monday, February 26th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $126.88.
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Ferrari NV, known as New Business Netherlands NV, is an Italy-based company, incorporated in the Netherlands, that is engaged in designing, manufacturing and selling sports cars under the Ferrari brand. Its products include nine sports car models, including seven sports cars: 458 Italia, 488 GTB, 458 Spider, 488 Spider, F12 Berlinetta, 458 Speciale and 458 Speciale A; as well as two grand tourer (GT) cars: California T and FF.
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