Pacific Sun Financial Corp Grows Holdings in Ferrari (NYSE:RACE)

Pacific Sun Financial Corp grew its stake in Ferrari (NYSE:RACE) by 7.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 968 shares of the company’s stock after acquiring an additional 68 shares during the period. Pacific Sun Financial Corp’s holdings in Ferrari were worth $411,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Elite Wealth Management Inc. raised its stake in shares of Ferrari by 1.0% in the 3rd quarter. Elite Wealth Management Inc. now owns 2,606 shares of the company’s stock valued at $1,225,000 after acquiring an additional 25 shares during the period. Addison Advisors LLC raised its stake in shares of Ferrari by 13.6% in the 3rd quarter. Addison Advisors LLC now owns 217 shares of the company’s stock valued at $102,000 after acquiring an additional 26 shares during the period. MassMutual Private Wealth & Trust FSB raised its stake in shares of Ferrari by 10.0% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 329 shares of the company’s stock valued at $140,000 after acquiring an additional 30 shares during the period. Caprock Group LLC raised its stake in shares of Ferrari by 1.7% in the 3rd quarter. Caprock Group LLC now owns 1,823 shares of the company’s stock valued at $857,000 after acquiring an additional 31 shares during the period. Finally, EWA LLC raised its stake in shares of Ferrari by 6.6% in the 3rd quarter. EWA LLC now owns 518 shares of the company’s stock valued at $228,000 after acquiring an additional 32 shares during the period.

Ferrari Trading Down 0.8 %

NYSE RACE opened at $500.59 on Thursday. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. Ferrari has a 52 week low of $389.34 and a 52 week high of $508.03. The stock has a market capitalization of $122.02 billion, a PE ratio of 54.71, a price-to-earnings-growth ratio of 4.40 and a beta of 0.95. The firm has a 50 day moving average of $442.46 and a two-hundred day moving average of $453.75.

Wall Street Analysts Forecast Growth

RACE has been the topic of a number of research analyst reports. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Ferrari in a report on Thursday, February 6th. They issued a “hold” rating for the company. Barclays cut shares of Ferrari from an “overweight” rating to an “equal weight” rating in a report on Wednesday, February 5th. Finally, UBS Group lifted their price objective on shares of Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $507.14.

Ferrari 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.