SG Americas Securities LLC Sells 6,263 Shares of Ferrari (NYSE:RACE)

SG Americas Securities LLC cut its stake in shares of Ferrari (NYSE:RACE) by 73.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,298 shares of the company’s stock after selling 6,263 shares during the period. SG Americas Securities LLC’s holdings in Ferrari were worth $976,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of RACE. E Fund Management Hong Kong Co. Ltd. bought a new position in Ferrari during the third quarter valued at about $29,000. Planning Capital Management Corp purchased a new position in Ferrari in the third quarter valued at about $30,000. Ashton Thomas Securities LLC bought a new position in shares of Ferrari during the 3rd quarter valued at approximately $33,000. Armstrong Advisory Group Inc. increased its stake in shares of Ferrari by 100.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock worth $42,000 after purchasing an additional 50 shares during the last quarter. Finally, FSC Wealth Advisors LLC bought a new stake in shares of Ferrari in the 3rd quarter worth approximately $47,000.

Ferrari Price Performance

RACE stock opened at $431.27 on Wednesday. Ferrari has a 12 month low of $338.73 and a 12 month high of $498.23. 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 $105.12 billion, a P/E ratio of 50.09, a price-to-earnings-growth ratio of 3.70 and a beta of 0.95. The firm has a 50 day moving average of $433.68 and a 200-day moving average of $448.65.

Ferrari (NYSE:RACE) last released its quarterly earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share for the quarter, missing the consensus estimate of $2.11 by ($0.03). The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.80 billion. Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.98 EPS. As a group, sell-side analysts predict that Ferrari will post 8.59 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on RACE shares. Evercore ISI increased their price objective on Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. 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. JPMorgan Chase & Co. upgraded Ferrari from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $385.00 to $525.00 in a research note on Friday, October 11th. Finally, StockNews.com lowered shares of Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $507.14.

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.