Cwm LLC Buys 168 Shares of Ferrari (NYSE:RACE)

Cwm LLC lifted its position in Ferrari (NYSE:RACE – Get Rating) by 77.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 386 shares of the company’s stock after purchasing an additional 168 shares during the period. Cwm LLC’s holdings in Ferrari were worth $71,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Hexagon Capital Partners LLC grew its holdings in Ferrari by 112.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 181 shares of the company’s stock worth $33,000 after acquiring an additional 96 shares during the last quarter. Crewe Advisors LLC bought a new stake in shares of Ferrari in the second quarter worth about $47,000. Whittier Trust Co. of Nevada Inc. increased its holdings in Ferrari by 238.6% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 281 shares of the company’s stock valued at $52,000 after purchasing an additional 198 shares during the period. City State Bank lifted its holdings in Ferrari by 159.1% in the 3rd quarter. City State Bank now owns 285 shares of the company’s stock worth $54,000 after buying an additional 175 shares during the period. Finally, First Horizon Advisors Inc. grew its position in shares of Ferrari by 16,950.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 341 shares of the company’s stock worth $61,000 after buying an additional 339 shares during the last quarter. 32.21% of the stock is owned by hedge funds and other institutional investors.

Ferrari Stock Performance

Shares of RACE opened at $239.71 on Thursday. The company has a quick ratio of 3.74, a current ratio of 4.47 and a debt-to-equity ratio of 1.21. The business’s 50 day moving average price is $220.30 and its 200-day moving average price is $205.13. Ferrari has a 52 week low of $167.45 and a 52 week high of $243.30. The stock has a market cap of $44.29 billion, a P/E ratio of 43.82, a P/E/G ratio of 3.38 and a beta of 0.97.

Ferrari (NYSE:RACE – Get Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.10. Ferrari had a return on equity of 40.02% and a net margin of 19.00%. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Equities research analysts anticipate that Ferrari will post 5.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on RACE. Morgan Stanley dropped their price target on Ferrari from $300.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday, November 3rd. Citigroup raised shares of Ferrari from a “sell” rating to a “neutral” rating and set a $230.60 price objective on the stock in a research report on Monday, January 9th. Royal Bank of Canada boosted their price objective on shares of Ferrari from €261.00 ($283.70) to €265.00 ($288.04) in a research report on Monday, December 12th. HSBC upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a report on Thursday, October 27th. Finally, StockNews.com cut Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, November 9th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $241.56.

About Ferrari

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Ferrari N.V., through its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hyper cars; one-off and track cars; and Icona cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.