Ferrari (NYSE:RACE) Stake Lifted by Marcum Wealth LLC

by · The Cerbat Gem

Marcum Wealth LLC boosted its position in shares of Ferrari (NYSE:RACE – Free Report) by 8.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 988 shares of the company’s stock after buying an additional 74 shares during the quarter. Marcum Wealth LLC’s holdings in Ferrari were worth $464,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Contravisory Investment Management Inc. increased its holdings in shares of Ferrari by 4.6% in the second quarter. Contravisory Investment Management Inc. now owns 518 shares of the company’s stock valued at $212,000 after buying an additional 23 shares in the last quarter. First Citizens Bank & Trust Co. lifted its holdings in shares of Ferrari by 3.3% during the second quarter. First Citizens Bank & Trust Co. now owns 787 shares of the company’s stock valued at $321,000 after purchasing an additional 25 shares during the last quarter. Columbia Asset Management boosted its position in shares of Ferrari by 1.8% in the 2nd quarter. Columbia Asset Management now owns 1,425 shares of the company’s stock valued at $582,000 after purchasing an additional 25 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Ferrari by 12.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 243 shares of the company’s stock worth $101,000 after buying an additional 27 shares during the period. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in Ferrari by 5.0% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 588 shares of the company’s stock valued at $240,000 after buying an additional 28 shares in the last quarter.

Analyst Ratings Changes

RACE has been the topic of several analyst reports. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Morgan Stanley increased their target price on Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 2nd. Finally, UBS Group upped their price target on Ferrari from $448.00 to $478.00 and gave the company a “buy” rating in a research report on Monday, June 24th. One investment 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $481.67.

Read Our Latest Stock Report on Ferrari

Ferrari Stock Performance

RACE opened at $453.35 on Friday. The stock has a fifty day moving average price of $462.36 and a 200 day moving average price of $433.62. The company has a debt-to-equity ratio of 1.01, a current ratio of 4.35 and a quick ratio of 3.32. Ferrari has a 1 year low of $296.34 and a 1 year high of $498.23.

Ferrari (NYSE:RACE – Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.08. The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.63 billion. Ferrari had a return on equity of 45.13% and a net margin of 21.84%. The firm’s revenue was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.99 earnings per share. As a group, equities analysts expect that Ferrari will post 8.81 EPS for the current year.

About Ferrari

(Free Report)

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.

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