Virtu Financial LLC Buys New Holdings in Ferrari NV (RACE)

Virtu Financial LLC bought a new stake in Ferrari NV (NYSE:RACE) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,420 shares of the company’s stock, valued at approximately $605,000.

A number of other institutional investors have also recently modified their holdings of RACE. Victory Capital Management Inc. boosted its holdings in Ferrari by 15,027.1% in the second quarter. Victory Capital Management Inc. now owns 340,058 shares of the company’s stock valued at $45,911,000 after acquiring an additional 337,810 shares during the last quarter. Sigma Planning Corp acquired a new position in shares of Ferrari during the second quarter worth about $418,000. CIBC Private Wealth Group LLC lifted its stake in shares of Ferrari by 22.9% during the second quarter. CIBC Private Wealth Group LLC now owns 14,486 shares of the company’s stock worth $1,956,000 after purchasing an additional 2,695 shares in the last quarter. State of Wisconsin Investment Board acquired a new position in shares of Ferrari during the second quarter worth about $12,756,000. Finally, Sei Investments Co. lifted its stake in shares of Ferrari by 9.2% during the second quarter. Sei Investments Co. now owns 101,437 shares of the company’s stock worth $13,697,000 after purchasing an additional 8,505 shares in the last quarter. Hedge funds and other institutional investors own 34.54% of the company’s stock.

Shares of RACE opened at $104.84 on Friday. The stock has a market cap of $20.32 billion, a price-to-earnings ratio of 32.87, a P/E/G ratio of 1.86 and a beta of 1.40. Ferrari NV has a 12 month low of $102.37 and a 12 month high of $149.85. The company has a debt-to-equity ratio of 1.53, a quick ratio of 3.40 and a current ratio of 4.05.

Ferrari (NYSE:RACE) last released its quarterly earnings results on Monday, November 5th. The company reported $0.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.02. Ferrari had a return on equity of 62.07% and a net margin of 21.34%. The business had revenue of $838.00 million for the quarter, compared to analysts’ expectations of $864.50 million. During the same quarter in the previous year, the firm posted $0.74 earnings per share. The company’s revenue was up .2% compared to the same quarter last year. As a group, equities research analysts predict that Ferrari NV will post 3.57 earnings per share for the current fiscal year.

A number of research analysts have commented on the company. ValuEngine cut Ferrari from a “buy” rating to a “hold” rating in a research note on Thursday, November 8th. Zacks Investment Research cut Ferrari from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 7th. Jefferies Financial Group cut Ferrari from a “buy” rating to a “hold” rating in a research note on Thursday, October 11th. Societe Generale upgraded Ferrari from a “sell” rating to a “hold” rating and boosted their price objective for the stock from $94.00 to $130.00 in a research note on Wednesday, October 10th. Finally, Morgan Stanley restated an “equal weight” rating and set a $140.00 price objective (up previously from $120.00) on shares of Ferrari in a research note on Tuesday, October 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $145.67.

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Ferrari Company Profile

Ferrari N.V., through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports cars, GT cars, special series cars, limited edition supercars, limited editions series, and one-off cars; and open air roadsters and two-seater mid-rear-engined roadsters.

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Institutional Ownership by Quarter for Ferrari (NYSE:RACE)

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