Two Sigma Advisers LP Sells 38,100 Shares of Ferrari (NYSE:RACE)

Two Sigma Advisers LP lowered its holdings in shares of Ferrari (NYSE:RACE) by 17.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 183,000 shares of the company’s stock after selling 38,100 shares during the period. Two Sigma Advisers LP’s holdings in Ferrari were worth $86,030,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Temasek Holdings Private Ltd bought a new stake in Ferrari in the 3rd quarter valued at $43,801,000. Stifel Financial Corp increased its holdings in shares of Ferrari by 0.3% in the third quarter. Stifel Financial Corp now owns 57,859 shares of the company’s stock worth $27,202,000 after purchasing an additional 187 shares during the last quarter. Quadrature Capital Ltd boosted its stake in Ferrari by 83.7% during the third quarter. Quadrature Capital Ltd now owns 231,279 shares of the company’s stock valued at $108,417,000 after buying an additional 105,390 shares during the last quarter. Quantinno Capital Management LP increased its stake in Ferrari by 17.7% in the 3rd quarter. Quantinno Capital Management LP now owns 10,749 shares of the company’s stock worth $5,045,000 after acquiring an additional 1,615 shares during the last quarter. Finally, Royal London Asset Management Ltd. raised its holdings in shares of Ferrari by 2.2% during the 3rd quarter. Royal London Asset Management Ltd. now owns 38,816 shares of the company’s stock worth $18,248,000 after acquiring an additional 835 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RACE. Evercore ISI raised their target price on shares of Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. 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 note on Friday, October 11th. StockNews.com cut shares of Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. UBS Group lifted their price target on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, Morgan Stanley lifted their target price on Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a report on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $507.14.

Ferrari Stock Down 0.0 %

NYSE:RACE opened at $445.55 on Friday. Ferrari has a twelve month low of $330.15 and a twelve month high of $498.23. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. The stock has a fifty day simple moving average of $456.33 and a 200-day simple moving average of $443.98.

Ferrari (NYSE:RACE) last released its quarterly earnings data on Tuesday, November 5th. The company reported $2.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.03). The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Ferrari had a net margin of 22.16% and a return on equity of 44.67%. Ferrari’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the firm earned $1.98 earnings per share. Research analysts expect that Ferrari will post 8.58 EPS for the current year.

Ferrari Company 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.