Winslow Capital Management LLC cut its holdings in Ferrari (NYSE:RACE) by 4.4% in the 1st quarter, Holdings Channel reports. The fund owned 1,479,854 shares of the company’s stock after selling 67,308 shares during the period. Winslow Capital Management LLC’s holdings in Ferrari were worth $178,353,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Arrowstreet Capital Limited Partnership grew its stake in shares of Ferrari by 194.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,238,194 shares of the company’s stock valued at $234,710,000 after buying an additional 1,477,464 shares during the period. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Ferrari during the 4th quarter valued at $72,805,000. Deutsche Bank AG grew its stake in shares of Ferrari by 44.2% during the 4th quarter. Deutsche Bank AG now owns 1,228,151 shares of the company’s stock valued at $128,756,000 after buying an additional 376,174 shares during the period. OppenheimerFunds Inc. purchased a new stake in shares of Ferrari during the 1st quarter valued at $36,169,000. Finally, Renaissance Technologies LLC grew its stake in shares of Ferrari by 770.4% during the 4th quarter. Renaissance Technologies LLC now owns 308,546 shares of the company’s stock valued at $32,414,000 after buying an additional 273,097 shares during the period. Institutional investors own 32.19% of the company’s stock.
Ferrari traded down $1.04, reaching $138.42, during trading on Thursday, MarketBeat.com reports. 401 shares of the company’s stock were exchanged, compared to its average volume of 272,022. The company has a current ratio of 3.17, a quick ratio of 2.56 and a debt-to-equity ratio of 2.03. Ferrari has a 52-week low of $84.38 and a 52-week high of $141.56. The stock has a market cap of $25.79 billion, a price-to-earnings ratio of 43.39, a price-to-earnings-growth ratio of 2.22 and a beta of 1.40.
Ferrari (NYSE:RACE) last announced its quarterly earnings results on Thursday, May 3rd. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.10). Ferrari had a return on equity of 79.32% and a net margin of 16.44%. The business had revenue of $831.00 million for the quarter, compared to analysts’ expectations of $835.47 million. During the same period last year, the company posted $0.65 earnings per share. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. analysts forecast that Ferrari will post 3.56 earnings per share for the current year.
Several analysts have recently issued reports on the stock. ValuEngine raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Saturday, June 2nd. Goldman Sachs Group assumed coverage on shares of Ferrari in a research note on Friday, May 25th. They set a “neutral” rating for the company. Zacks Investment Research cut shares of Ferrari from a “hold” rating to a “sell” rating in a research note on Saturday, May 5th. Morgan Stanley boosted their price objective on shares of Ferrari from $105.00 to $110.00 and gave the company an “underweight” rating in a research note on Tuesday, May 22nd. Finally, Credit Suisse Group boosted their price objective on shares of Ferrari from $150.00 to $156.00 and gave the company an “outperform” rating in a research note on Friday, May 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $130.75.
Ferrari N.V., through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports cars, GT cars, special series cars, limited edition supercars, limited editions series, and one-off cars; and open air roadsters and two-seater mid-rear-engined roadsters.
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