Legacy Wealth Asset Management LLC acquired a new position in Ferrari (NYSE:RACE) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,536 shares of the company’s stock, valued at approximately $582,000.
Several other large investors have also recently made changes to their positions in the company. Lansing Management LP raised its stake in shares of Ferrari by 1.4% in the fourth quarter. Lansing Management LP now owns 101,833 shares of the company’s stock worth $23,373,000 after purchasing an additional 1,413 shares during the last quarter. Amundi Pioneer Asset Management Inc. grew its holdings in Ferrari by 15.4% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 1,800,978 shares of the company’s stock worth $413,361,000 after acquiring an additional 240,272 shares during the period. Dimensional Fund Advisors LP grew its holdings in Ferrari by 33.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 55,812 shares of the company’s stock worth $12,810,000 after acquiring an additional 14,112 shares during the period. Jackson Grant Investment Advisers Inc. acquired a new stake in Ferrari during the fourth quarter worth about $40,000. Finally, Norges Bank acquired a new stake in Ferrari during the fourth quarter worth about $439,841,000. Hedge funds and other institutional investors own 32.49% of the company’s stock.
Several analysts recently commented on the company. Kepler Capital Markets reaffirmed a “hold” rating on shares of Ferrari in a report on Friday, March 5th. Smith Barney Citigroup lowered Ferrari from a “buy” rating to a “neutral” rating in a report on Thursday, January 7th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lowered Ferrari from a “buy” rating to a “neutral” rating in a report on Thursday, January 7th. Zacks Investment Research lowered Ferrari from a “buy” rating to a “hold” rating in a report on Saturday, February 6th. Finally, Citigroup lowered Ferrari from a “neutral” rating to a “sell” rating in a report on Wednesday, February 3rd. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the stock. Ferrari has a consensus rating of “Hold” and a consensus target price of $212.60.
Ferrari (NYSE:RACE) last issued its quarterly earnings results on Monday, February 1st. The company reported $1.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.24. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.05 billion. Ferrari had a return on equity of 34.85% and a net margin of 15.50%. The business’s revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.90 earnings per share. As a group, analysts expect that Ferrari will post 3.31 earnings per share for the current year.
Ferrari N.V., through its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hypercars; one-off and track cars; and Icona cars. It also provides racing cars; and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.
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