Ferrari (NYSE:RACE) Shares Sold by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC cut its position in Ferrari (NYSE:RACE) by 6.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,083 shares of the company’s stock after selling 230 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Ferrari were worth $1,310,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of RACE. E Fund Management Hong Kong Co. Ltd. acquired a new position in Ferrari during the 3rd quarter worth $29,000. Planning Capital Management Corp acquired a new position in Ferrari during the 3rd quarter worth $30,000. Ashton Thomas Securities LLC acquired a new position in Ferrari during the 3rd quarter worth $33,000. FSC Wealth Advisors LLC acquired a new position in Ferrari during the 3rd quarter worth $47,000. Finally, Hobbs Group Advisors LLC acquired a new position in Ferrari during the 3rd quarter worth $47,000.

Ferrari Stock Up 2.3 %

Shares of NYSE RACE opened at $431.74 on Thursday. Ferrari has a 1 year low of $330.15 and a 1 year high of $498.23. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. The company has a market capitalization of $79.76 billion, a price-to-earnings ratio of 50.14, a price-to-earnings-growth ratio of 4.26 and a beta of 0.95. The business has a 50-day moving average of $435.31 and a two-hundred day moving average of $447.97.

Ferrari (NYSE:RACE) last posted its earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share for the quarter, missing the consensus estimate of $2.11 by ($0.03). Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the previous year, the firm posted $1.98 earnings per share. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, analysts forecast that Ferrari will post 8.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on RACE. StockNews.com cut Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. raised Ferrari from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $385.00 to $525.00 in a research note on Friday, October 11th. Evercore ISI lifted their price target on Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Finally, UBS Group lifted their price target on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $507.14.

Ferrari Profile

Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.