WCM Investment Management LLC decreased its position in Ferrari (NYSE:RACE - Free Report) by 14.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 790,605 shares of the company's stock after selling 134,423 shares during the period. WCM Investment Management LLC owned approximately 0.32% of Ferrari worth $337,407,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Hanson & Doremus Investment Management bought a new position in Ferrari in the 4th quarter worth about $26,000. E Fund Management Hong Kong Co. Ltd. bought a new position in Ferrari in the 3rd quarter worth about $29,000. Planning Capital Management Corp bought a new position in Ferrari in the 3rd quarter worth about $30,000. Ashton Thomas Securities LLC bought a new position in Ferrari in the 3rd quarter worth about $33,000. Finally, Armstrong Advisory Group Inc. lifted its stake in Ferrari by 100.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company's stock valued at $42,000 after acquiring an additional 50 shares during the period.
Ferrari stock opened at $446.27 on Friday. The firm has a 50 day moving average of $435.60 and a 200 day moving average of $449.38. The firm has a market capitalization of $108.78 billion, a price-to-earnings ratio of 48.77, a P/E/G ratio of 4.04 and a beta of 0.95. Ferrari has a 12-month low of $375.31 and a 12-month high of $498.23. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93.
Several equities analysts have issued reports on the stock. Evercore ISI upped their target price on shares of Ferrari from $475.00 to $565.00 and gave the company an "outperform" rating in a research note on Tuesday, October 22nd. UBS Group upped their target price on shares of Ferrari from $478.00 to $513.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. Barclays cut shares of Ferrari from an "overweight" rating to an "equal weight" rating in a research note on Wednesday. StockNews.com raised shares of Ferrari from a "hold" rating to a "buy" rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Ferrari in a research report on Thursday. They set a "hold" rating for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $507.14.
View Our Latest Research Report on 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.
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