Ferrari N.V. $RACE Stock Position Reduced by Groupama Asset Managment

Groupama Asset Managment lessened its stake in Ferrari N.V. (NYSE:RACE) by 99.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 103,838 shares of the company’s stock after selling 16,886,783 shares during the quarter. Groupama Asset Managment’s holdings in Ferrari were worth $38,374,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fideuram Asset Management Ireland dac purchased a new position in shares of Ferrari during the 4th quarter valued at $29,000. Community Bank N.A. purchased a new stake in shares of Ferrari during the third quarter worth $33,000. Entrust Financial LLC acquired a new stake in Ferrari during the fourth quarter valued at $33,000. Bamco Inc. NY boosted its position in Ferrari by 790.9% during the fourth quarter. Bamco Inc. NY now owns 98 shares of the company’s stock valued at $36,000 after purchasing an additional 87 shares during the last quarter. Finally, CoreCap Advisors LLC grew its stake 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.

Ferrari Price Performance

NYSE RACE opened at $362.88 on Friday. The stock has a 50-day simple moving average of $347.58 and a 200 day simple moving average of $353.34. Ferrari N.V. has a twelve month low of $312.51 and a twelve month high of $519.10. The stock has a market capitalization of $84.89 billion, a PE ratio of 34.82, a P/E/G ratio of 3.38 and a beta of 0.93. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.08 and a current ratio of 5.20.

Analyst Ratings Changes

Several brokerages have weighed in on RACE. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Ferrari in a research report on Tuesday, June 2nd. Morgan Stanley upgraded Ferrari from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $388.00 to $438.00 in a report on Monday. Weiss Ratings reissued a “hold (c)” rating on shares of Ferrari in a research note on Friday, April 10th. JPMorgan Chase & Co. increased their price objective on Ferrari from $407.00 to $447.00 and gave the stock an “overweight” rating in a report on Tuesday, March 3rd. 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, nine have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $470.70.

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.