International Assets Investment Management LLC Buys 15,709 Shares of Ferrari N.V. $RACE

International Assets Investment Management LLC grew its stake in Ferrari N.V. (NYSE:RACE) by 1,856.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,555 shares of the company’s stock after buying an additional 15,709 shares during the period. International Assets Investment Management LLC’s holdings in Ferrari were worth $6,504,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Choreo LLC increased its holdings in shares of Ferrari by 5.7% during the 3rd quarter. Choreo LLC now owns 1,194 shares of the company’s stock valued at $469,000 after acquiring an additional 64 shares during the last quarter. D.A. Davidson & CO. lifted its holdings in Ferrari by 13.1% in the 3rd quarter. D.A. Davidson & CO. now owns 663 shares of the company’s stock worth $261,000 after purchasing an additional 77 shares during the last quarter. William Mack & Associates Inc. acquired a new stake in Ferrari in the 3rd quarter worth approximately $40,000. Victory Financial Group LLC acquired a new stake in Ferrari in the 3rd quarter worth approximately $222,000. Finally, Generali Asset Management SPA SGR boosted its position in Ferrari by 5.4% during the third quarter. Generali Asset Management SPA SGR now owns 125,318 shares of the company’s stock worth $49,231,000 after purchasing an additional 6,436 shares during the period.

Ferrari Stock Up 0.1%

NYSE RACE opened at $396.31 on Monday. The stock has a market capitalization of $92.71 billion, a P/E ratio of 36.79, a price-to-earnings-growth ratio of 3.56 and a beta of 0.93. Ferrari N.V. has a 52 week low of $312.51 and a 52 week high of $437.15. The company has a debt-to-equity ratio of 0.86, a quick ratio of 3.70 and a current ratio of 4.85. The stock has a fifty day moving average of $403.40 and a 200-day moving average of $369.39.

Ferrari (NYSE:RACE) last announced its earnings results on Friday, July 31st. The company reported $2.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.83 by $0.16. The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.14 billion. Ferrari had a return on equity of 42.83% and a net margin of 22.29%. Ferrari’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.38 EPS. On average, equities research analysts forecast that Ferrari N.V. will post 11.10 EPS for the current year.

Analyst Upgrades and Downgrades

RACE has been the topic of several analyst reports. Citigroup reiterated a “neutral” rating on shares of Ferrari in a report on Monday, August 3rd. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Ferrari in a report on Tuesday, September 29th. Sanford C. Bernstein reiterated a “buy” rating on shares of Ferrari in a research note on Tuesday, September 29th. Needham & Company LLC upgraded shares of Ferrari to a “neutral” rating in a report on Friday, July 31st. Finally, Morgan Stanley dropped their target price on shares of Ferrari from $460.00 to $456.00 and set an “overweight” rating on the stock in a report on Wednesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $456.71.

Ferrari Company Profile

Ferrari N.V. is an Italian luxury automotive company that designs, develops, manufactures and sells high-performance sports cars. Its vehicle portfolio includes grand touring models, mid- and rear-engine sports cars, limited-edition special series and high-performance supercars. Ferrari also offers extensive personalization options, allowing customers to tailor vehicle specifications, materials and finishes.

The company traces its origins to 1939, when Enzo Ferrari established Auto Avio Costruzioni, and it produced its first Ferrari-badged car in 1947.