Newbridge Financial Services Group Inc. Increases Stock Holdings in Ferrari (NYSE:RACE)

Newbridge Financial Services Group Inc. raised its position in shares of Ferrari (NYSE:RACE) by 705.9% in the fourth quarter, HoldingsChannel reports. The firm owned 137 shares of the company’s stock after buying an additional 120 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Ferrari were worth $58,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RACE. Kestra Private Wealth Services LLC grew its position in Ferrari by 7.8% during the fourth quarter. Kestra Private Wealth Services LLC now owns 2,839 shares of the company’s stock valued at $1,206,000 after buying an additional 205 shares during the period. Triasima Portfolio Management inc. boosted its stake in shares of Ferrari by 8.5% during the 4th quarter. Triasima Portfolio Management inc. now owns 21,782 shares of the company’s stock worth $9,254,000 after acquiring an additional 1,711 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Ferrari by 3.6% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 141,473 shares of the company’s stock valued at $60,103,000 after acquiring an additional 4,882 shares during the period. Telligent Fund LP purchased a new stake in shares of Ferrari in the 4th quarter worth $2,804,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Ferrari by 156.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,400 shares of the company’s stock worth $2,731,000 after purchasing an additional 3,900 shares during the period.

Analyst Upgrades and Downgrades

Several analysts have issued reports on RACE shares. UBS Group boosted their price target on Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft started coverage on Ferrari in a research note on Thursday, February 6th. They set a “hold” rating for the company. Barclays downgraded shares of Ferrari from an “overweight” rating to an “equal weight” rating in a report on Wednesday, February 5th. Evercore ISI increased their price objective on shares of Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Finally, StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $507.14.

Ferrari Stock Performance

RACE opened at $460.86 on Tuesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. The stock has a market capitalization of $112.34 billion, a price-to-earnings ratio of 50.37, a PEG ratio of 4.04 and a beta of 0.95. The company has a fifty day moving average of $435.60 and a 200 day moving average of $449.82. Ferrari has a fifty-two week low of $375.31 and a fifty-two week high of $498.23.

About Ferrari

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.