Quantbot Technologies LP Acquires 3,328 Shares of Ferrari (NYSE:RACE)

Quantbot Technologies LP grew its holdings in Ferrari (NYSE:RACE) by 43.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 10,926 shares of the company’s stock after buying an additional 3,328 shares during the quarter. Quantbot Technologies LP’s holdings in Ferrari were worth $5,136,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Jennison Associates LLC boosted its position in shares of Ferrari by 910.1% in the third quarter. Jennison Associates LLC now owns 2,926,616 shares of the company’s stock valued at $1,368,622,000 after acquiring an additional 2,636,869 shares during the period. Legal & General Group Plc boosted its stake in Ferrari by 2.4% during the second quarter. Legal & General Group Plc now owns 1,256,482 shares of the company’s stock valued at $512,660,000 after buying an additional 30,014 shares during the period. International Assets Investment Management LLC grew its position in Ferrari by 47,023.5% during the third quarter. International Assets Investment Management LLC now owns 1,180,916 shares of the company’s stock worth $5,551,600,000 after buying an additional 1,178,410 shares in the last quarter. Marshall Wace LLP increased its stake in Ferrari by 108.4% in the 2nd quarter. Marshall Wace LLP now owns 887,108 shares of the company’s stock worth $361,961,000 after acquiring an additional 461,409 shares during the last quarter. Finally, Clearbridge Investments LLC raised its holdings in shares of Ferrari by 25.8% in the 2nd quarter. Clearbridge Investments LLC now owns 479,135 shares of the company’s stock valued at $195,664,000 after acquiring an additional 98,225 shares in the last quarter.

Ferrari Trading Down 0.9 %

RACE stock opened at $431.40 on Wednesday. The firm’s 50-day moving average price is $461.10 and its two-hundred day moving average price is $443.24. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. Ferrari has a 12-month low of $330.15 and a 12-month high of $498.23.

Ferrari (NYSE:RACE) last released its quarterly earnings data on Tuesday, November 5th. The company reported $2.08 earnings per share for the quarter, missing the consensus estimate of $2.11 by ($0.03). Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter last year, the business posted $1.98 EPS. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, analysts expect that Ferrari will post 8.66 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RACE. Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, August 2nd. Morgan Stanley boosted their price target on shares of Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 27th. StockNews.com lowered shares of Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Evercore ISI lifted their price objective on shares of Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. raised Ferrari from a “neutral” rating to an “overweight” rating and increased their target price for the company 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, four have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.