Mirae Asset Global Investments Co. Ltd. Has $2.73 Million Holdings in Ferrari (NYSE:RACE)

Mirae Asset Global Investments Co. Ltd. raised its position in shares of Ferrari (NYSE:RACE - Free Report) by 156.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,400 shares of the company's stock after acquiring an additional 3,900 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Ferrari were worth $2,731,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in RACE. Hanson & Doremus Investment Management acquired a new stake in Ferrari in the 4th quarter worth about $26,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Ferrari during the third quarter worth approximately $29,000. Planning Capital Management Corp acquired a new stake in shares of Ferrari in the third quarter valued at approximately $30,000. Ashton Thomas Securities LLC bought a new stake in shares of Ferrari in the third quarter valued at approximately $33,000. Finally, Armstrong Advisory Group Inc. boosted its stake in shares of Ferrari by 100.0% in the fourth quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company's stock valued at $42,000 after buying an additional 50 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on RACE shares. Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a report on Thursday. They issued a "hold" rating for the company. Evercore ISI increased their price objective on shares of Ferrari from $475.00 to $565.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 22nd. StockNews.com upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a research report on Thursday. Barclays lowered shares of Ferrari from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, February 5th. Finally, UBS Group boosted their price objective on shares of Ferrari from $478.00 to $513.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Ferrari has an average rating of "Moderate Buy" and an average price target of $507.14.

Ferrari Price Performance

RACE traded up $14.42 on Monday, reaching $460.86. The stock had a trading volume of 388,424 shares, compared to its average volume of 330,539. The firm has a 50-day moving average of $435.60 and a 200-day moving average of $449.82. Ferrari has a fifty-two week low of $375.31 and a fifty-two week high of $498.23. The company has a market capitalization of $112.34 billion, a price-to-earnings ratio of 50.37, a price-to-earnings-growth ratio of 4.04 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.

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.