Scopus Asset Management L.P. Purchases New Shares in Ferrari (NYSE:RACE)

Scopus Asset Management L.P. purchased a new stake in Ferrari (NYSE:RACE) during the first quarter, Holdings Channel reports. The institutional investor purchased 125,000 shares of the company’s stock, valued at approximately $26,160,000.

A number of other institutional investors also recently added to or reduced their stakes in RACE. Baird Financial Group Inc. boosted its stake in Ferrari by 17.6% during the 4th quarter. Baird Financial Group Inc. now owns 2,420 shares of the company’s stock worth $555,000 after purchasing an additional 363 shares during the last quarter. LPL Financial LLC boosted its stake in Ferrari by 32.5% during the 4th quarter. LPL Financial LLC now owns 5,448 shares of the company’s stock worth $1,251,000 after purchasing an additional 1,336 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Ferrari by 6.7% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 3,578 shares of the company’s stock worth $830,000 after purchasing an additional 225 shares during the last quarter. Marietta Investment Partners LLC boosted its stake in Ferrari by 22.4% during the 4th quarter. Marietta Investment Partners LLC now owns 15,562 shares of the company’s stock worth $3,572,000 after purchasing an additional 2,844 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Ferrari by 4.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,996,362 shares of the company’s stock worth $1,835,620,000 after purchasing an additional 322,796 shares during the last quarter. 31.40% of the stock is currently owned by hedge funds and other institutional investors.

RACE has been the topic of several recent research reports. UBS Group lowered their target price on shares of Ferrari from $247.00 to $238.00 and set a “buy” rating on the stock in a research note on Tuesday, March 30th. Zacks Investment Research lowered Ferrari from a “buy” rating to a “strong sell” rating in a report on Wednesday. Kepler Capital Markets lowered Ferrari to a “hold” rating and set a $185.00 price target on the stock. in a report on Friday, July 2nd. The Goldman Sachs Group lowered Ferrari from a “buy” rating to a “sell” rating and set a $207.00 price target on the stock. in a report on Sunday, June 13th. Finally, Redburn Partners reiterated a “neutral” rating on shares of Ferrari in a report on Tuesday, May 25th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. Ferrari has an average rating of “Hold” and a consensus target price of $231.78.

RACE traded up $0.32 on Thursday, hitting $205.93. The company had a trading volume of 2,336 shares, compared to its average volume of 209,665. The stock has a market cap of $38.05 billion, a price-to-earnings ratio of 49.66, a P/E/G ratio of 2.40 and a beta of 0.90. Ferrari has a 1 year low of $176.03 and a 1 year high of $233.66. The stock’s fifty day simple moving average is $207.38. The company has a debt-to-equity ratio of 1.17, a quick ratio of 3.19 and a current ratio of 3.84.

Ferrari (NYSE:RACE) last issued its quarterly earnings data on Tuesday, May 4th. The company reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.22). The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Ferrari had a net margin of 18.52% and a return on equity of 35.60%. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.90 earnings per share. On average, equities research analysts predict that Ferrari will post 4.89 EPS for the current year.

About Ferrari

Ferrari N.V., through its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hypercars; one-off and track cars; and Icona cars. It also provides racing cars; and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.

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Institutional Ownership by Quarter for Ferrari (NYSE:RACE)

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