Arrowstreet Capital Limited Partnership Raises Holdings in Ferrari (RACE)

Arrowstreet Capital Limited Partnership grew its position in shares of Ferrari (NYSE:RACE) by 194.2% during the 4th quarter, Holdings Channel reports. The firm owned 2,238,194 shares of the company’s stock after buying an additional 1,477,464 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Ferrari were worth $234,710,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Shine Investment Advisory Services Inc. acquired a new stake in shares of Ferrari during the fourth quarter worth about $116,000. Parallel Advisors LLC boosted its stake in shares of Ferrari by 554.3% during the third quarter. Parallel Advisors LLC now owns 1,060 shares of the company’s stock worth $117,000 after buying an additional 898 shares during the period. Cerebellum GP LLC acquired a new stake in shares of Ferrari during the fourth quarter worth about $125,000. PNC Financial Services Group Inc. boosted its stake in shares of Ferrari by 6.6% during the second quarter. PNC Financial Services Group Inc. now owns 1,917 shares of the company’s stock worth $165,000 after buying an additional 119 shares during the period. Finally, Cornerstone Advisors Inc. boosted its stake in shares of Ferrari by 678.6% during the third quarter. Cornerstone Advisors Inc. now owns 1,526 shares of the company’s stock worth $169,000 after buying an additional 1,330 shares during the period. 31.93% of the stock is currently owned by institutional investors.

Shares of Ferrari (NYSE RACE) opened at $129.71 on Monday. The company has a debt-to-equity ratio of 2.77, a current ratio of 3.26 and a quick ratio of 2.68. The company has a market cap of $24,510.00 and a PE ratio of 40.66. Ferrari has a 12-month low of $64.76 and a 12-month high of $131.20.

Ferrari (NYSE:RACE) last announced its quarterly earnings data on Thursday, February 1st. The company reported $0.84 EPS for the quarter, missing the Zacks’ consensus estimate of $0.87 by ($0.03). The firm had revenue of $840.00 million during the quarter, compared to analyst estimates of $869.74 million. Ferrari had a net margin of 15.74% and a return on equity of 98.82%. Ferrari’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.69 EPS. equities analysts forecast that Ferrari will post 3.3 EPS for the current year.

RACE has been the subject of several recent research reports. Zacks Investment Research downgraded shares of Ferrari from a “buy” rating to a “sell” rating in a research note on Thursday, February 8th. BidaskClub downgraded shares of Ferrari from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 9th. Jefferies Group increased their target price on shares of Ferrari to $130.00 and gave the stock a “buy” rating in a research note on Friday, December 8th. HSBC initiated coverage on shares of Ferrari in a research note on Monday, December 11th. They set a “hold” rating for the company. Finally, Morgan Stanley increased their target price on shares of Ferrari from $100.00 to $105.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 14th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $118.57.

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Ferrari Company Profile

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 under the Ferrari brand. Its products include nine sports car models, including seven sports cars: 458 Italia, 488 GTB, 458 Spider, 488 Spider, F12 Berlinetta, 458 Speciale and 458 Speciale A; as well as two grand tourer (GT) cars: California T and FF.

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Institutional Ownership by Quarter for Ferrari (NYSE:RACE)

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