Duality Advisers LP Has $1.03 Million Stock Position in Ferrari (NYSE:RACE)

Duality Advisers LP decreased its holdings in Ferrari (NYSE:RACE) by 86.8% during the 1st quarter, HoldingsChannel reports. The firm owned 2,359 shares of the company’s stock after selling 15,519 shares during the quarter. Duality Advisers LP’s holdings in Ferrari were worth $1,028,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of RACE. Flossbach Von Storch AG boosted its position in Ferrari by 33.7% in the first quarter. Flossbach Von Storch AG now owns 8,189 shares of the company’s stock valued at $3,571,000 after buying an additional 2,063 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Ferrari by 5.3% during the 1st quarter. Signaturefd LLC now owns 2,818 shares of the company’s stock valued at $1,228,000 after acquiring an additional 143 shares in the last quarter. FDx Advisors Inc. boosted its holdings in shares of Ferrari by 14.5% during the 1st quarter. FDx Advisors Inc. now owns 2,953 shares of the company’s stock valued at $1,287,000 after acquiring an additional 373 shares in the last quarter. Mediolanum International Funds Ltd bought a new stake in Ferrari during the 1st quarter worth $1,146,000. Finally, Callan Capital LLC acquired a new position in Ferrari in the 1st quarter worth about $204,000.

Analysts Set New Price Targets

Several research firms have recently weighed in on RACE. Barclays cut Ferrari from an “overweight” rating to an “equal weight” rating in a report on Thursday, April 4th. UBS Group raised their price target on shares of Ferrari from $448.00 to $478.00 and gave the company a “buy” rating in a research note on Monday, June 24th. StockNews.com lowered shares of Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, May 29th. Morgan Stanley restated an “overweight” rating and issued a $400.00 price objective on shares of Ferrari in a report on Monday, April 22nd. Finally, Jefferies Financial Group started coverage on Ferrari in a report on Friday, May 10th. They set a “hold” rating and a $403.00 target price on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Ferrari presently has an average rating of “Hold” and an average target price of $461.67.

Ferrari Trading Up 1.6 %

Shares of RACE opened at $435.17 on Friday. The company has a quick ratio of 3.25, a current ratio of 4.18 and a debt-to-equity ratio of 0.80. The firm’s fifty day simple moving average is $416.16 and its two-hundred day simple moving average is $401.12. Ferrari has a 12 month low of $285.02 and a 12 month high of $442.80.

Ferrari (NYSE:RACE) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.08. Ferrari had a return on equity of 43.94% and a net margin of 21.42%. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.73 billion. Equities analysts expect that Ferrari will post 8.2 earnings per share for the current year.

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.