Raymond James Financial Services Advisors Inc. raised its stake in shares of Ferrari (NYSE:RACE) by 0.0% during the first quarter, Holdings Channel reports. The fund owned 10,301 shares of the company’s stock after buying an additional 2 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Ferrari were worth $766,000 as of its most recent filing with the SEC.
A number of other hedge funds have also modified their holdings of RACE. Castleark Management LLC acquired a new stake in shares of Ferrari during the fourth quarter valued at approximately $100,000. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Ferrari by 6.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,149 shares of the company’s stock valued at $125,000 after buying an additional 128 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of Ferrari by 188.8% in the first quarter. Quadrant Capital Group LLC now owns 1,952 shares of the company’s stock valued at $136,000 after buying an additional 1,276 shares during the last quarter. Edmond DE Rothschild Monaco acquired a new stake in shares of Ferrari during the third quarter valued at approximately $143,000. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Ferrari during the fourth quarter valued at approximately $200,000. 30.45% of the stock is currently owned by institutional investors.
Ferrari (NYSE RACE) opened at 90.57 on Thursday. Ferrari has a 1-year low of $38.71 and a 1-year high of $91.14. The firm has a market cap of $17.11 billion, a price-to-earnings ratio of 34.69 and a beta of 1.79. The firm’s 50-day moving average price is $81.84 and its 200-day moving average price is $68.13.
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A number of brokerages have recently issued reports on RACE. TheStreet raised Ferrari from a “d+” rating to a “c” rating in a research note on Wednesday, March 29th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $74.00 price target on shares of Ferrari in a research note on Tuesday, April 18th. Morgan Stanley reaffirmed an “overweight” rating and issued a $72.00 price target on shares of Ferrari in a research note on Thursday, March 23rd. Kepler Capital Markets reaffirmed a “hold” rating on shares of Ferrari in a research note on Monday, May 15th. Finally, Zacks Investment Research lowered Ferrari from a “hold” rating to a “sell” rating in a research note on Wednesday, May 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $73.86.
Ferrari Company Profile
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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