Scotia Capital Inc. Has $371,000 Holdings in Ferrari N.V. (RACE)
Scotia Capital Inc. trimmed its position in shares of Ferrari N.V. (NYSE:RACE) by 7.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,313 shares of the company’s stock after selling 325 shares during the period. Scotia Capital Inc.’s holdings in Ferrari N.V. were worth $371,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC lifted its holdings in shares of Ferrari N.V. by 272.9% in the first quarter. AQR Capital Management LLC now owns 934,215 shares of the company’s stock worth $69,693,000 after acquiring an additional 683,686 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Ferrari N.V. by 124.2% in the second quarter. Bank of New York Mellon Corp now owns 811,847 shares of the company’s stock worth $69,836,000 after acquiring an additional 449,795 shares during the last quarter. Capital Growth Management LP bought a new position in shares of Ferrari N.V. in the second quarter worth about $37,849,000. Credit Suisse AG lifted its holdings in shares of Ferrari N.V. by 44.4% in the first quarter. Credit Suisse AG now owns 1,038,800 shares of the company’s stock worth $77,246,000 after acquiring an additional 319,185 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Ferrari N.V. by 18,261.6% in the second quarter. Victory Capital Management Inc. now owns 314,167 shares of the company’s stock worth $27,024,000 after acquiring an additional 312,456 shares during the last quarter. Hedge funds and other institutional investors own 29.78% of the company’s stock.
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Ferrari N.V. (RACE) opened at 116.12 on Tuesday. The company has a 50-day moving average of $112.79 and a 200-day moving average of $95.40. Ferrari N.V. has a one year low of $50.39 and a one year high of $118.10. The company has a market cap of $21.94 billion, a price-to-earnings ratio of 37.89 and a beta of 1.71.
Ferrari N.V. (NYSE:RACE) last issued its earnings results on Wednesday, August 2nd. The company reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.13. The business had revenue of $1.01 billion during the quarter. Ferrari N.V. had a return on equity of 128.49% and a net margin of 14.43%. Equities research analysts expect that Ferrari N.V. will post $3.21 EPS for the current fiscal year.
RACE has been the subject of a number of research reports. UBS AG reissued a “buy” rating and issued a $100.00 target price (up previously from $92.00) on shares of Ferrari N.V. in a report on Tuesday, July 11th. Zacks Investment Research cut shares of Ferrari N.V. from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 11th. Berenberg Bank reissued a “buy” rating on shares of Ferrari N.V. in a report on Monday, August 14th. Evercore ISI increased their target price on shares of Ferrari N.V. from $46.00 to $105.00 and gave the stock an “in-line” rating in a report on Friday, September 1st. Finally, Morgan Stanley cut shares of Ferrari N.V. from an “overweight” rating to an “underweight” rating and set a $100.00 target price for the company. in a report on Thursday, September 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. Ferrari N.V. has a consensus rating of “Buy” and a consensus target price of $109.86.
Ferrari N.V. 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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