Ferrari (NYSE: RACE) Buyers are Aggressive

Ferrari (NYSE: RACE) Buyers are Aggressive

Ferrari (NYSE: RACE) Buyers are Aggressive

Renaissance Technologies cut its stake in Ferrari (NYSE:RACE) by 3.1% during Q-1 according to its most recent 13F filing with the SEC.

The institutional investor owned 387,922 shares of the company’s stock after selling 12,377 shares during the frame. Renaissance Technologies owned about 0.21% of the company worth $28,873,000 at the end of the most recent quarter.

Some other hedge funds recently made changes to their positions in Ferrari

Castleark Management LLC bought a new stake in shares of Ferrari N.V. during Q-4 Y 2016 valued at approximately $100,000.

Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Ferrari by 6.3% in Q-4 Y 2016, it now owns 2,149 shares of the company’s stock valued at $125,000 after buying an additional 128 shares during Q-2.

Victory Capital Management Inc. bought a new stake in shares of Ferrari N.V. during Q-1 valued at approximately $127,000.

PNC Financial Services Group Inc. boosted its stake in shares of the company by 48.3% in Q-1.

PNC Financial Services Group Inc. now owns 1,798 shares of the company’s stock valued at $135,000 after buying an additional 586 shares during Q-2.

Quadrant Capital Group boosted its stake in shares of Ferrari by 188.8% in Q-1. Quadrant Capital Group LLC now owns 1,952 shares of the company’s stock valued at $136,000 after buying an additional 1,276 shares during Q-2.

Notably: Institutional investors and hedge funds own 32.88% of the company’s stock.

Friday, shares of Ferrari (NYSE:RACE ) opened at 86.61. The company has a market capitalization of $16.36-B, a PE ratio of 32.89 and a beta of 1.66. The stock’s 50-Day MA is 87.22 and its 200-Day MA is 71.84. The company’s shares have a 12 month low of 38.80 Vs a high of 91.94.

Ferrari has been the topic of several research analyst reports.

Bank of America Corporation boosted their price target on shares of Ferrari from 82.00 to 90.00 and gave the stock a “buy” rating in a research note on Monday, May 15th.

Jefferies Group reiterated a “buy” rating and issued a 74.00 price target on shares of Ferrari in a research note on Tuesday, April 18th.

Citigroup Inc. upgraded shares of Ferrari from a “neutral” rating to a “buy” rating in a research note on Thursday, March 23rd.

TheStreet upgraded shares of Ferrari from a “d+” rating to a “c” rating in a research note on Wednesday, March 29th.

Kepler Capital Markets upgraded shares of the company to a “hold” rating in a research note on Friday, May 5th.

One research analyst has rated the stock with a sell rating, 3 have issued a hold rating and 5 have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of 81.60.

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 and other luxury collateral goods under the Ferrari brand.

 

Its products include 9 sports car models, including 7 sports cars: 458 Italia, 488 GTB, 458 Spider, 488 Spider, F12 Berlinetta, 458 Speciale and 458 Speciale A, and 2 grand tourer (GT) cars: California T and the GTC4 Lusso the Family Dream Car seen above in Blue.

Institutional Ownership by Quarter for Ferrari N.V. (NYSE:RACE)

Ferrari is an aggressive growth stock that is paying a dividend in its 1st year on strong earnings, averaging 31%. Ferrari has a lot going for it, as it is the world’s most iconic automotive brand.

Symbol Last Trade Date Change Open High Low Volume
NYSE:RACE 86.28 30 June 2017 0.33 86.64 86.94 85.74 244,781
HeffX-LTN Analysis for RACE: Overall Short Intermediate Long
Bullish (0.29) Neutral (-0.01) Bullish (0.39) Very Bullish (0.50)

For all of our US readers, have a terrific 4th of July weekend.

 

 

 

 

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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