Ferrari (NYSE:RACE) Shares Purchased by Marshall Wace LLP

Marshall Wace LLP raised its position in Ferrari (NYSE:RACE) by 108.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 887,108 shares of the company’s stock after acquiring an additional 461,409 shares during the quarter. Ferrari makes up approximately 0.5% of Marshall Wace LLP’s portfolio, making the stock its 23rd biggest position. Marshall Wace LLP’s holdings in Ferrari were worth $361,961,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Evergreen Capital Management LLC grew its position in Ferrari by 6.4% in the 2nd quarter. Evergreen Capital Management LLC now owns 1,565 shares of the company’s stock valued at $639,000 after acquiring an additional 94 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in shares of Ferrari by 5.8% in the 2nd quarter. Public Sector Pension Investment Board now owns 52,954 shares of the company’s stock valued at $21,606,000 after buying an additional 2,915 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Ferrari by 60.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 391 shares of the company’s stock valued at $161,000 after buying an additional 148 shares during the period. Frank Rimerman Advisors LLC purchased a new position in shares of Ferrari in the 2nd quarter valued at about $10,428,000. Finally, Sei Investments Co. boosted its stake in shares of Ferrari by 32.5% in the 2nd quarter. Sei Investments Co. now owns 39,807 shares of the company’s stock valued at $16,258,000 after buying an additional 9,775 shares during the period.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RACE. Morgan Stanley lifted their price objective on Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, August 27th. UBS Group lifted their price objective on Ferrari from $448.00 to $478.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 2nd. Finally, StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. One 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 target price of $481.67.

Ferrari Stock Up 1.4 %

Shares of NYSE:RACE opened at $476.96 on Tuesday. The company has a market capitalization of $88.12 billion, a PE ratio of 60.91, a P/E/G ratio of 4.89 and a beta of 1.00. The company has a current ratio of 4.35, a quick ratio of 3.32 and a debt-to-equity ratio of 1.01. Ferrari has a twelve month low of $285.02 and a twelve month high of $498.23. The firm has a 50 day simple moving average of $451.48 and a 200-day simple moving average of $430.57.

Ferrari (NYSE:RACE) last released its quarterly earnings results on Thursday, August 1st. The company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.21 by $0.08. Ferrari had a net margin of 21.84% and a return on equity of 45.13%. The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the prior year, the firm earned $1.99 EPS. Ferrari’s revenue for the quarter was up 16.1% on a year-over-year basis. On average, equities analysts predict that Ferrari will post 8.71 EPS for the current fiscal year.

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.