Parametric Portfolio Associates LLC Has $22.18 Million Position in Ferrari (RACE)

Parametric Portfolio Associates LLC boosted its stake in shares of Ferrari (NYSE:RACE) by 9.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 200,776 shares of the company’s stock after acquiring an additional 18,157 shares during the quarter. Parametric Portfolio Associates LLC owned 0.11% of Ferrari worth $22,182,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its holdings in Ferrari by 124.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 811,847 shares of the company’s stock valued at $69,836,000 after acquiring an additional 449,795 shares during the period. Rehmann Capital Advisory Group purchased a new stake in Ferrari in the 3rd quarter worth approximately $263,000. Geode Capital Management LLC purchased a new stake in Ferrari in the 1st quarter worth approximately $1,005,000. Comerica Bank lifted its holdings in Ferrari by 18.5% in the 3rd quarter. Comerica Bank now owns 12,040 shares of the company’s stock worth $1,411,000 after buying an additional 1,880 shares during the period. Finally, Sei Investments Co. lifted its holdings in Ferrari by 1,401.8% in the 3rd quarter. Sei Investments Co. now owns 95,937 shares of the company’s stock worth $10,599,000 after buying an additional 89,549 shares during the period. Institutional investors own 31.85% of the company’s stock.

Several research firms have weighed in on RACE. Goldman Sachs Group began coverage on Ferrari in a report on Wednesday, September 13th. They issued a “neutral” rating and a $131.00 price objective for the company. Evercore ISI increased their price objective on Ferrari from $46.00 to $105.00 and gave the stock an “in-line” rating in a report on Friday, September 1st. HSBC began coverage on Ferrari in a report on Monday, December 11th. They issued a “hold” rating for the company. Zacks Investment Research cut Ferrari from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 2nd. Finally, Jefferies Group increased their price objective on Ferrari to $130.00 and gave the stock a “buy” rating in a report on Friday, December 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. Ferrari currently has an average rating of “Hold” and a consensus target price of $114.71.

Ferrari (NYSE:RACE) opened at $106.54 on Tuesday. Ferrari has a 52-week low of $57.56 and a 52-week high of $121.14. The stock has a market capitalization of $20,131.16, a P/E ratio of 35.63, a PEG ratio of 2.63 and a beta of 1.47. The company has a debt-to-equity ratio of 2.77, a current ratio of 3.26 and a quick ratio of 2.68.

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About Ferrari

Ferrari NV, known as New Business Netherlands NV, is an Italy-based company, incorporated in the Netherlands, that is engaged in designing, manufacturing and selling sports cars under the Ferrari brand. Its products include nine sports car models, including seven sports cars: 458 Italia, 488 GTB, 458 Spider, 488 Spider, F12 Berlinetta, 458 Speciale and 458 Speciale A; as well as two grand tourer (GT) cars: California T and FF.

Institutional Ownership by Quarter for Ferrari (NYSE:RACE)

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