Ferrari (NYSE:RACE) Shares Purchased by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC lifted its position in Ferrari (NYSE:RACE - Free Report) by 123.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,005 shares of the company's stock after purchasing an additional 4,983 shares during the quarter. Miracle Mile Advisors LLC's holdings in Ferrari were worth $3,826,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Ferrari during the 3rd quarter worth about $29,000. Planning Capital Management Corp acquired a new stake in Ferrari during the third quarter worth about $30,000. Ashton Thomas Securities LLC purchased a new position in Ferrari during the third quarter valued at approximately $33,000. FSC Wealth Advisors LLC acquired a new position in Ferrari in the third quarter valued at approximately $47,000. Finally, Hobbs Group Advisors LLC acquired a new position in Ferrari in the third quarter valued at approximately $47,000.

Ferrari Price Performance

NYSE:RACE traded up $3.23 during trading hours on Tuesday, hitting $421.60. 270,439 shares of the stock were exchanged, compared to its average volume of 243,392. The firm's fifty day moving average price is $435.31 and its 200 day moving average price is $447.97. Ferrari has a 52-week low of $330.15 and a 52-week high of $498.23. The company has a market cap of $77.89 billion, a P/E ratio of 48.97, a P/E/G ratio of 4.26 and a beta of 0.95. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93.

Ferrari (NYSE:RACE - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.03). The firm had revenue of $1.64 billion for the quarter, compared to analysts' expectations of $1.80 billion. Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The firm's revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.98 earnings per share. As a group, equities research analysts anticipate that Ferrari will post 8.58 EPS for the current fiscal year.

Analyst Ratings Changes

RACE has been the subject of several recent research reports. UBS Group lifted their target price on shares of Ferrari from $478.00 to $513.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. Evercore ISI upped their price objective 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 cut Ferrari from a "buy" rating to a "hold" rating in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. raised Ferrari from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $385.00 to $525.00 in a report on Friday, October 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus 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.