Assenagon Asset Management S.A. Reduces Holdings in Ferrari (NYSE:RACE)

Assenagon Asset Management S.A. lessened its position in shares of Ferrari (NYSE:RACE - Free Report) by 13.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 95,684 shares of the company's stock after selling 14,881 shares during the quarter. Assenagon Asset Management S.A. owned 0.05% of Ferrari worth $40,662,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Marcum Wealth LLC grew its position in shares of Ferrari by 19.3% during the 4th quarter. Marcum Wealth LLC now owns 1,179 shares of the company's stock valued at $501,000 after acquiring an additional 191 shares during the period. Parisi Gray Wealth Management raised its stake in shares of Ferrari by 4.1% in the fourth quarter. Parisi Gray Wealth Management now owns 1,316 shares of the company's stock worth $562,000 after buying an additional 52 shares during the period. Miracle Mile Advisors LLC lifted its position in shares of Ferrari by 123.9% during the 4th quarter. Miracle Mile Advisors LLC now owns 9,005 shares of the company's stock valued at $3,826,000 after buying an additional 4,983 shares in the last quarter. Wedmont Private Capital grew its stake in shares of Ferrari by 13.0% during the 4th quarter. Wedmont Private Capital now owns 539 shares of the company's stock valued at $231,000 after acquiring an additional 62 shares during the period. Finally, Paragon Advisors LLC increased its holdings in Ferrari by 8.0% in the 4th quarter. Paragon Advisors LLC now owns 4,625 shares of the company's stock worth $1,965,000 after acquiring an additional 342 shares in the last quarter.

Ferrari Trading Up 0.7 %

Shares of RACE traded up $3.23 during mid-day trading on Friday, hitting $436.17. 167,671 shares of the stock were exchanged, compared to its average volume of 227,961. The firm has a 50-day moving average of $434.69 and a two-hundred day moving average of $447.76. Ferrari has a 52-week low of $330.15 and a 52-week high of $498.23. 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 (NYSE:RACE - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.03). Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the business earned $1.98 EPS. Ferrari's revenue for the quarter was up 6.5% compared to the same quarter last year. Analysts forecast that Ferrari will post 8.59 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on RACE shares. Evercore ISI upped their price target on shares of Ferrari from $475.00 to $565.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 22nd. StockNews.com downgraded shares of Ferrari from a "buy" rating to a "hold" rating in a report on Wednesday, October 16th. UBS Group increased their price target on Ferrari from $478.00 to $513.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. Finally, JPMorgan Chase & Co. upgraded Ferrari from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $385.00 to $525.00 in a research report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $507.14.

About Ferrari

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.