Mercer Global Advisors Inc. ADV Cuts Holdings in Ferrari (NYSE:RACE)

Mercer Global Advisors Inc. ADV cut its stake in Ferrari (NYSE:RACE) by 0.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,481 shares of the company’s stock after selling 49 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Ferrari were worth $2,238,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Rothschild Investment LLC purchased a new position in Ferrari in the second quarter valued at about $29,000. Register Financial Advisors LLC purchased a new position in shares of Ferrari in the 1st quarter worth approximately $33,000. Valley Wealth Managers Inc. purchased a new position in shares of Ferrari in the 2nd quarter worth approximately $33,000. Denver PWM LLC bought a new position in shares of Ferrari during the 2nd quarter worth approximately $35,000. Finally, Pittenger & Anderson Inc. lifted its position in Ferrari by 168.6% during the first quarter. Pittenger & Anderson Inc. now owns 94 shares of the company’s stock valued at $41,000 after acquiring an additional 59 shares during the last quarter.

Ferrari Price Performance

Shares of NYSE:RACE opened at $476.96 on Tuesday. Ferrari has a twelve month low of $285.02 and a twelve month high of $498.23. The company has a current ratio of 4.35, a quick ratio of 3.32 and a debt-to-equity ratio of 1.01. The company has a market cap of $88.12 billion, a PE ratio of 60.91, a price-to-earnings-growth ratio of 4.89 and a beta of 1.00. The company’s 50 day moving average is $451.48 and its 200 day moving average is $430.57.

Ferrari (NYSE:RACE) last issued its earnings results on Thursday, August 1st. The company reported $2.29 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $1.63 billion. During the same quarter last year, the company posted $1.99 earnings per share. The firm’s revenue was up 16.1% compared to the same quarter last year. On average, sell-side analysts forecast that Ferrari will post 8.71 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RACE. Morgan Stanley upped their price target on Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 27th. StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. UBS Group boosted their price target on Ferrari from $448.00 to $478.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Finally, Barclays raised shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued 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 a consensus target price of $481.67.

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.