Quantbot Technologies LP Has $5.14 Million Stake in Ferrari (NYSE:RACE)

Quantbot Technologies LP raised its position in shares of Ferrari (NYSE:RACE) by 43.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,926 shares of the company’s stock after acquiring an additional 3,328 shares during the quarter. Quantbot Technologies LP’s holdings in Ferrari were worth $5,136,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Rothschild Investment LLC acquired a new stake in Ferrari during the second quarter worth approximately $29,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Ferrari during the 3rd quarter worth approximately $29,000. Planning Capital Management Corp acquired a new stake in shares of Ferrari during the 3rd quarter worth approximately $30,000. Valley Wealth Managers Inc. bought a new stake in shares of Ferrari in the 2nd quarter valued at $33,000. Finally, Ashton Thomas Securities LLC bought a new position in Ferrari during the third quarter worth $33,000.

Ferrari Trading Down 0.9 %

Shares of RACE stock opened at $431.40 on Wednesday. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. The firm has a 50-day moving average of $461.10 and a 200-day moving average of $443.24. Ferrari has a one year low of $330.15 and a one year high of $498.23.

Ferrari (NYSE:RACE) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.03). Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter last year, the business posted $1.98 EPS. The company’s quarterly revenue was up 6.5% on a year-over-year basis. On average, equities research analysts anticipate that Ferrari will post 8.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RACE. JPMorgan Chase & Co. upgraded shares of Ferrari from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $385.00 to $525.00 in a report on Friday, October 11th. StockNews.com downgraded Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. UBS Group raised their price objective on Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, August 2nd. Finally, Evercore ISI boosted their price target on shares of Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $507.14.

Ferrari Company Profile

Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.