Ferrari (NYSE:RACE) Shares Sold by M&G Investment Management Ltd.

M&G Investment Management Ltd. lessened its holdings in Ferrari (NYSE:RACE – Get Rating ) by 7.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,490 shares of the company’s stock after selling 2,438 shares during the period. Properties of M&G Investment Management Ltd. in Ferrari were $6,114,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of RACE. Hexagon Capital Partners LLC raised its stake in shares of Ferrari by 112.9% in the third quarter. Hexagon Capital Partners LLC now owns 181 shares of the company’s stock valued at $33,000 after buying an additional 96 shares during the last quarter. Crewe Advisors LLC acquired a new stake in shares of Ferrari in the second quarter valued at approximately $47,000. Whittier Trust Co . of Nevada Inc. raised its stake in shares of Ferrari by 238.6% in the second quarter. Whittier Trust Co . of Nevada Inc. now owns 281 shares of the company’s stock valued at $52,000 after buying an additional 198 shares during the last quarter. City State Bank raised its stake in shares of Ferrari by 159.1% in the third quarter. City State Bank now owns 285 shares of the company’s stock valued at $54,000 after purchasing an additional 175 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its stake in shares of Ferrari by 16,950.0% in the second quarter. First Horizon Advisors Inc. now owns 341 shares of the company’s stock valued at $61,000 after buying an additional 339 shares during the last quarter. 32.21% of the shares are owned by institutional investors and hedge funds.

Ferrari Trading 0.0%

NYSE:RACE opened at $235.92 on Friday. Ferrari has a 52-week low of $167.45 and a 52-week high of $247.26. The company has a debt-to-equity ratio of 1.21, a quick ratio of 3.74, and a current ratio of 4.47. The stock’s fifty day moving average is $218.14, and the two hundred day moving average is $204.03.

Ferrari (NYSE:RACE – Get Rating ) last issued its quarterly earnings data on Wednesday, November 2nd. The company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.10. Ferrari had a return on equity of 40.02% and a net margin of 19.00%. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.15 billion. On average, equities research analysts anticipate that Ferrari will post 5.08 EPS for the current year.

The Wall Street analyst weighs in

A number of analysts have recently issued reports on RACE shares. Citigroup raised Ferrari from a “sell” rating to a “neutral” rating and set a $230.60 price objective on the stock in a research note on Monday, January 9th. HSBC upgraded Ferrari from a “hold” rating to a “buy” rating in a research report on Thursday, October 27th. Morgan Stanley decreased their price objective on Ferrari from $300.00 to $280.00 and set an “overweight” rating on the stock in a research report on Thursday, November 3rd. Royal Bank of Canada lifted their price objective on Ferrari from €261.00 ($280.65) to €265.00 ($284.95) in a research report on Monday, December 12th. Finally, StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, November 9th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Ferrari presently has a consensus rating of “Moderate Buy” and a consensus target price of $241.56, based on data from MarketBeat.com.

Ferrari Company Profile (Get Rating)

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

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Want to see what other hedge funds are holding RACE? Visit HoldingsChannel.com to get the latest 13F filings and insider markets for Ferrari (NYSE:RACE – Get Rating).

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