SG Americas Securities LLC Has $976,000 Stock Position in Ferrari (NYSE:RACE)

SG Americas Securities LLC lessened its holdings in Ferrari (NYSE:RACE - Free Report) by 73.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,298 shares of the company's stock after selling 6,263 shares during the quarter. SG Americas Securities LLC's holdings in Ferrari were worth $976,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in RACE. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Ferrari in the third quarter valued at about $29,000. Planning Capital Management Corp bought a new stake in Ferrari during the 3rd quarter worth $30,000. Ashton Thomas Securities LLC bought a new stake in shares of Ferrari in the 3rd quarter valued at about $33,000. FSC Wealth Advisors LLC bought a new stake in shares of Ferrari during the 3rd quarter valued at about $47,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Ferrari in the 3rd quarter valued at about $47,000.

Ferrari Stock Down 0.5 %

RACE traded down $1.96 on Wednesday, hitting $429.13. The company had a trading volume of 298,824 shares, compared to its average volume of 255,657. The stock has a market capitalization of $104.60 billion, a price-to-earnings ratio of 49.84, a P/E/G ratio of 3.70 and a beta of 0.95. The stock has a fifty day moving average price of $433.73 and a 200-day moving average price of $448.62. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. Ferrari has a 12-month low of $345.92 and a 12-month high of $498.23.

Ferrari (NYSE:RACE - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share for the quarter, missing analysts' consensus estimates of $2.11 by ($0.03). Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the previous year, the firm posted $1.98 earnings per share. The business's revenue was up 6.5% compared to the same quarter last year. Analysts predict that Ferrari will post 8.59 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on RACE shares. Evercore ISI lifted their target price 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. UBS Group upped their target price on shares of Ferrari from $478.00 to $513.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. StockNews.com lowered Ferrari from a "buy" rating to a "hold" rating in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. upgraded shares of Ferrari from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $385.00 to $525.00 in a report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Ferrari currently has a consensus rating of "Moderate Buy" and a consensus price target 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.