Royal London Asset Management Ltd. Has $122.88 Million Stock Position in Ferrari N.V. $RACE

Royal London Asset Management Ltd. grew its holdings in shares of Ferrari N.V. (NYSE:RACE) by 645.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 332,495 shares of the company’s stock after acquiring an additional 287,907 shares during the period. Royal London Asset Management Ltd. owned about 0.14% of Ferrari worth $122,877,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Fideuram Asset Management Ireland dac acquired a new position in Ferrari during the 4th quarter worth about $29,000. Community Bank N.A. acquired a new position in shares of Ferrari in the third quarter worth approximately $33,000. Entrust Financial LLC bought a new stake in Ferrari in the fourth quarter valued at approximately $33,000. CoreCap Advisors LLC boosted its holdings 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 acquiring an additional 42 shares during the last quarter. Finally, Navalign LLC acquired a new stake in Ferrari during the 4th quarter valued at approximately $41,000.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RACE. Jefferies Financial Group upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Tuesday, March 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Ferrari in a research note on Friday, April 10th. Morgan Stanley set a $420.00 target price on shares of Ferrari in a report on Monday, February 16th. UBS Group cut their price target on shares of Ferrari from $555.00 to $483.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. Finally, JPMorgan Chase & Co. increased their price target on Ferrari from $407.00 to $447.00 and gave the stock an “overweight” rating in a report on Tuesday, March 3rd. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Ferrari presently has a consensus rating of “Moderate Buy” and an average price target of $469.06.

Ferrari Price Performance

Ferrari stock opened at $354.77 on Friday. The stock has a market capitalization of $83.00 billion, a price-to-earnings ratio of 34.04, a PEG ratio of 3.46 and a beta of 0.93. Ferrari N.V. has a 52-week low of $312.51 and a 52-week high of $519.10. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.08 and a current ratio of 5.20. The stock’s 50 day moving average price is $345.59 and its two-hundred day moving average price is $354.15.

Ferrari Company 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.