Jupiter Asset Management Ltd. Invests $8.17 Million in Ferrari (NYSE:RACE)

Jupiter Asset Management Ltd. acquired a new position in shares of Ferrari (NYSE:RACE) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 25,221 shares of the company’s stock, valued at approximately $8,172,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Public Sector Pension Investment Board boosted its position in shares of Ferrari by 2.0% in the first quarter. Public Sector Pension Investment Board now owns 44,640 shares of the company’s stock worth $12,091,000 after buying an additional 887 shares during the period. SG Americas Securities LLC boosted its position in shares of Ferrari by 56.7% in the first quarter. SG Americas Securities LLC now owns 7,170 shares of the company’s stock worth $1,943,000 after buying an additional 2,593 shares during the period. Kovack Advisors Inc. boosted its position in shares of Ferrari by 87.9% in the second quarter. Kovack Advisors Inc. now owns 1,723 shares of the company’s stock worth $560,000 after buying an additional 806 shares during the period. Tevis Investment Management acquired a new stake in shares of Ferrari in the second quarter worth $314,000. Finally, Pinnacle Associates Ltd. acquired a new stake in shares of Ferrari in the second quarter worth $206,000.

Ferrari Price Performance

NYSE RACE opened at $359.37 on Friday. Ferrari has a fifty-two week low of $209.88 and a fifty-two week high of $359.43. The stock’s 50-day moving average is $310.01 and its two-hundred day moving average is $308.18. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.08 and a current ratio of 3.98.

Analyst Ratings Changes

Several analysts recently issued reports on RACE shares. StockNews.com started coverage on Ferrari in a report on Thursday, October 5th. They set a “buy” rating for the company. Evercore ISI started coverage on Ferrari in a report on Tuesday, November 7th. They set an “outperform” rating and a $375.00 price objective for the company. Sanford C. Bernstein increased their price objective on Ferrari from $250.00 to $300.00 and gave the stock a “market perform” rating in a report on Friday, August 18th. Morgan Stanley increased their price objective on Ferrari from $340.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, November 3rd. Finally, Jefferies Financial Group increased their price objective on Ferrari from $275.00 to $300.00 and gave the stock a “hold” rating in a report on Friday, August 25th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Ferrari currently has an average rating of “Moderate Buy” and a consensus target price of $311.69.

Ferrari Company Profile

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.