Kovack Advisors Inc. purchased a new stake in shares of Ferrari (NYSE:RACE) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 3,111 shares of the company’s stock, valued at approximately $326,000.
Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Ferrari by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 3,144,415 shares of the company’s stock valued at $270,483,000 after acquiring an additional 39,530 shares during the last quarter. WCM Investment Management CA acquired a new position in shares of Ferrari during the 3rd quarter valued at about $108,587,000. Bank of New York Mellon Corp boosted its position in shares of Ferrari by 2.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 834,176 shares of the company’s stock valued at $92,160,000 after acquiring an additional 22,329 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Ferrari by 579.6% during the 3rd quarter. Wells Fargo & Company MN now owns 646,247 shares of the company’s stock valued at $71,399,000 after acquiring an additional 551,149 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Ferrari by 20.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 386,227 shares of the company’s stock valued at $33,223,000 after acquiring an additional 66,629 shares during the last quarter. 31.83% of the stock is currently owned by hedge funds and other institutional investors.
Ferrari (NYSE RACE) opened at $127.14 on Friday. Ferrari has a 1 year low of $64.12 and a 1 year high of $130.63. The company has a debt-to-equity ratio of 2.77, a current ratio of 3.26 and a quick ratio of 2.68. The company has a market cap of $24,023.61, a PE ratio of 39.86, a price-to-earnings-growth ratio of 2.38 and a beta of 1.59.
Several research analysts have recently weighed in on RACE shares. BidaskClub cut shares of Ferrari from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 9th. Zacks Investment Research cut shares of Ferrari from a “hold” rating to a “sell” rating in a research report on Wednesday, November 8th. HSBC began coverage on shares of Ferrari in a research report on Monday, December 11th. They issued a “hold” rating on the stock. Jefferies Group upped their target price on shares of Ferrari to $130.00 and gave the company a “buy” rating in a research report on Friday, December 8th. Finally, TheStreet raised shares of Ferrari from a “c” rating to a “b-” rating in a research report on Friday, October 20th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $117.86.
COPYRIGHT VIOLATION WARNING: “3,111 Shares in Ferrari (RACE) Acquired by Kovack Advisors Inc.” was reported by Community Financial News and is the sole property of of Community Financial News. If you are viewing this news story on another website, it was illegally copied and republished in violation of US & international copyright legislation. The correct version of this news story can be viewed at https://www.com-unik.info/2018/02/04/3111-shares-in-ferrari-race-acquired-by-kovack-advisors-inc.html.
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.
Want to see what other hedge funds are holding RACE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ferrari (NYSE:RACE).
Receive News & Ratings for Ferrari Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ferrari and related companies with MarketBeat.com's FREE daily email newsletter.