Ferrari (NYSE:RACE) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. trimmed its stake in shares of Ferrari (NYSE:RACE) by 33.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,419 shares of the company’s stock after selling 721 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Ferrari were worth $579,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Contravisory Investment Management Inc. grew its stake in Ferrari by 4.6% during the 2nd quarter. Contravisory Investment Management Inc. now owns 518 shares of the company’s stock worth $212,000 after purchasing an additional 23 shares in the last quarter. First Citizens Bank & Trust Co. boosted its position in shares of Ferrari by 3.3% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 787 shares of the company’s stock worth $321,000 after acquiring an additional 25 shares in the last quarter. Columbia Asset Management boosted its position in shares of Ferrari by 1.8% during the 2nd quarter. Columbia Asset Management now owns 1,425 shares of the company’s stock worth $582,000 after acquiring an additional 25 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of 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 acquiring an additional 27 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its position in shares of Ferrari by 5.0% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 588 shares of the company’s stock worth $240,000 after acquiring an additional 28 shares in the last quarter.

Analyst Upgrades and Downgrades

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

Ferrari Trading Down 0.1 %

RACE opened at $449.81 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 3.32 and a current ratio of 4.35. The stock’s 50 day simple moving average is $459.71 and its 200 day simple moving average is $433.14. Ferrari has a 1-year low of $296.34 and a 1-year high of $498.23.

Ferrari (NYSE:RACE) last released its quarterly earnings results on Thursday, August 1st. The company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.08. The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Ferrari had a return on equity of 45.13% and a net margin of 21.84%. The company’s revenue was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.99 EPS. On average, sell-side analysts anticipate that Ferrari will post 8.81 earnings per share for the current 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.