Y Intercept Hong Kong Ltd Buys 37,111 Shares of Ferrari N.V. $RACE

Y Intercept Hong Kong Ltd lifted its stake in shares of Ferrari N.V. (NYSE:RACE) by 2,195.9% in the 4th quarter, Holdings Channel reports. The fund owned 38,801 shares of the company’s stock after acquiring an additional 37,111 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Ferrari were worth $14,339,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in RACE. Fideuram Asset Management Ireland dac bought a new position in Ferrari in the fourth quarter valued at $29,000. Community Bank N.A. bought a new position in Ferrari in the third quarter valued at $33,000. Entrust Financial LLC bought a new position in Ferrari in the fourth quarter valued at $33,000. CoreCap Advisors LLC grew its position in Ferrari by 70.0% in the fourth quarter. CoreCap Advisors LLC now owns 102 shares of the company’s stock valued at $38,000 after purchasing an additional 42 shares in the last quarter. Finally, Navalign LLC bought a new position in Ferrari in the fourth quarter valued at $41,000.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on RACE shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ferrari in a research report on Friday, April 10th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Ferrari in a research report on Tuesday, June 2nd. JPMorgan Chase & Co. raised their target price on shares of Ferrari from $407.00 to $447.00 and gave the company an “overweight” rating in a research report on Tuesday, March 3rd. Morgan Stanley set a $420.00 target price on shares of Ferrari in a research report on Monday, February 16th. Finally, Jefferies Financial Group raised shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Tuesday, March 31st. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $469.06.

Ferrari Stock Down 3.0%

Shares of RACE opened at $354.77 on Friday. Ferrari N.V. has a 52 week low of $312.51 and a 52 week high of $519.10. The firm has a market cap of $83.00 billion, a P/E ratio of 34.04, a price-to-earnings-growth ratio of 3.46 and a beta of 0.93. The firm’s 50-day simple moving average is $345.59 and its 200 day simple moving average is $354.15. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.08 and a current ratio of 5.20.

Ferrari Profile

Ferrari N.V. (NYSE: RACE) is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company’s core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.