Russell Investments Group Ltd. lowered its position in Ferrari (NYSE:RACE – Free Report) by 28.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 148,908 shares of the company’s stock after selling 60,297 shares during the quarter. Russell Investments Group Ltd.’s holdings in Ferrari were worth $48,654,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Norges Bank purchased a new position in shares of Ferrari in the fourth quarter worth about $354,547,000. Bank of New York Mellon Corp increased its stake in Ferrari by 176.8% in the 1st quarter. Bank of New York Mellon Corp now owns 1,548,201 shares of the company’s stock worth $419,470,000 after purchasing an additional 988,830 shares during the period. William Blair Investment Management LLC bought a new stake in Ferrari in the first quarter valued at approximately $203,140,000. Bank of America Corp DE lifted its position in Ferrari by 139.6% in the first quarter. Bank of America Corp DE now owns 939,555 shares of the company’s stock valued at $254,563,000 after purchasing an additional 547,356 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Ferrari by 39.0% during the first quarter. JPMorgan Chase & Co. now owns 1,728,335 shares of the company’s stock valued at $468,275,000 after purchasing an additional 484,782 shares during the period.
Ferrari Trading Up 1.5 %
RACE stock 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 business’s 50 day moving average price is $310.01 and its two-hundred day moving average price is $308.18. The company has a current ratio of 3.98, a quick ratio of 3.08 and a debt-to-equity ratio of 0.89.
Wall Street Analysts Forecast Growth
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.
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