JPMorgan Chase Ups Ferrari N.V. (NYSE:RACE) Stake by 102.8% in Q-1

JPMorgan Chase Ups Ferrari N.V. (NYSE:RACE) Stake by 102.8% in Q-1

JPMorgan Chase Ups Ferrari N.V. (NYSE:RACE) Stake by 102.8% in Q-1

$RACE, $JPM

JPMorgan Chase (NYSE:JPM) increased its stake in Ferrari N.V. (NYSE:RACE) by 102.8% during Q-1 of Y 2017, according to its most recent Form 13F filing with the Securities and Exchange Commission.

The institutional investor owned 1,830,812 shares of the company’s stock after buying an additional 928,230 shares during the frame. JPMorgan Chase owned approximately 0.97% of Ferrari N.V. worth $136,139,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company.

BlackRock Group LTD boosted its stake in shares of Ferrari N.V. by 1.5% in Q-3 of Y 2016. BlackRock Group LTD now owns 47,390 shares of the company’s stock valued at $2,458,000 after buying an additional 688 shares during Q-1 of Y 2017.

KCG Holdings Inc. purchased a new stake in shares of Ferrari N.V. during Q-3 of Y 2016 worth about $830,000.

AMP Capital Investors Ltd purchased a new stake in shares of Ferrari N.V. during in Q-3 of Y 2016 worth about $2,285,000.

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Ferrari N.V. by 29.1% in Q-4. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,762 shares of the company’s stock worth $2,066,000 after buying an additional 8,967 shares in the Q-1 of Y 2017.

HSBC Holdings Plc increased its position in shares of Ferrari N.V. by 3.5% in Q-3 of Y 2016. HSBC Holdings Plc now owns 29,749 shares of the company’s stock valued at $1,543,000 after buying an additional 1,008 shares in Q-1 of Y 2017.

Institutional investors own 32.90% of the company’s stock.

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

Ferrari N.V.  traded down 1.32% during mid-day trading on Thursday, hitting $87.25. The company had a trading volume of 554,238 shares. The stock has a market capitalization of $16.49-B, a P/E ratio of 33.37 and a beta of 1.66.

Ferrari N.V. has a 1-year low of 38.71 and a 1-year high of 91.94. The stock has a 50-Day MA price of 84.26 and a 200-Day MA price of 69.31.

A number of equities research analysts recently weighed in on the company.

TheStreet upgraded Ferrari N.V. from a “d+” rating to a “c” rating in a research report on Wednesday, 29 March.

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

Morgan Stanley restated an “overweight” rating and set a 72.00 target price on shares of Ferrari N.V. in a research report on Thursday, 3 March 23rd.

Kepler Capital Markets reaffirmed a “hold” rating on shares of Ferrari N.V. in a research note on Monday, 15 May 15

One minor analyst negative since the IPO has rated the stock with a sell rating, 3 have issued a hold rating and five have issued a buy rating to the company.

Ferrari presently has a consensus rating of “Hold” and a consensus target price of 79.60.

Ferrari is an Italy-based company, incorporated in the Netherlands engaged in designing, manufacturing and selling sports cars, Supercars, and HyperSuper Limited Edition cars under the iconic Ferrari brand, selling and licensing collateral goods and theme parks and running the world’s #1 Formula One (F1) racing team since Y 1950.

Ferrari is the world most recognized automotive 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; as well as 2 GT cars: California T and FF.

HeffX-LTN Analysis for RACE: Overall Short Intermediate Long
Very Bullish (0.50) Bullish (0.41) Very Bullish (0.51) Very Bullish (0.58)

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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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