Kestra Investment Management LLC Buys New Stake in Ferrari (NYSE:RACE)

Kestra Investment Management LLC bought a new stake in Ferrari (NYSE:RACE) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 107 shares of the company’s stock, valued at approximately $45,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Elite Wealth Management Inc. lifted its stake in Ferrari by 1.0% in the 3rd quarter. Elite Wealth Management Inc. now owns 2,606 shares of the company’s stock valued at $1,225,000 after buying an additional 25 shares in the last quarter. Addison Advisors LLC lifted its stake in Ferrari by 13.6% in the 3rd quarter. Addison Advisors LLC now owns 217 shares of the company’s stock valued at $102,000 after buying an additional 26 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Ferrari by 10.0% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 329 shares of the company’s stock worth $140,000 after purchasing an additional 30 shares during the period. Caprock Group LLC lifted its stake in shares of Ferrari by 1.7% during the 3rd quarter. Caprock Group LLC now owns 1,823 shares of the company’s stock worth $857,000 after purchasing an additional 31 shares during the period. Finally, EWA LLC lifted its stake in shares of Ferrari by 6.6% during the 3rd quarter. EWA LLC now owns 518 shares of the company’s stock worth $228,000 after purchasing an additional 32 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. UBS Group increased their price target on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a research note on Thursday, February 6th. They set a “hold” rating on the stock. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Finally, Barclays lowered Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $507.14.

Ferrari Trading Down 0.8 %

Shares of RACE opened at $503.88 on Friday. 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 firm has a market capitalization of $122.82 billion, a P/E ratio of 55.07, a price-to-earnings-growth ratio of 4.37 and a beta of 0.95. The stock’s fifty day simple moving average is $444.58 and its 200 day simple moving average is $454.68. Ferrari has a twelve month low of $399.27 and a twelve month high of $508.20.

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.