Marks Group Wealth Management Inc Purchases 253 Shares of Ferrari (NYSE:RACE)

Marks Group Wealth Management Inc lifted its position in shares of Ferrari (NYSE:RACE) by 16.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,822 shares of the company’s stock after purchasing an additional 253 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Ferrari were worth $774,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Jennison Associates LLC lifted its holdings in Ferrari by 910.1% during the third quarter. Jennison Associates LLC now owns 2,926,616 shares of the company’s stock worth $1,368,622,000 after acquiring an additional 2,636,869 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Ferrari by 47,023.5% during the third quarter. International Assets Investment Management LLC now owns 1,180,916 shares of the company’s stock worth $5,551,600,000 after purchasing an additional 1,178,410 shares during the period. Quadrature Capital Ltd lifted its holdings in shares of Ferrari by 83.7% during the 3rd quarter. Quadrature Capital Ltd now owns 231,279 shares of the company’s stock valued at $108,417,000 after purchasing an additional 105,390 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of Ferrari by 89.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 220,418 shares of the company’s stock valued at $103,621,000 after purchasing an additional 104,366 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in shares of Ferrari by 904.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 110,565 shares of the company’s stock valued at $51,968,000 after purchasing an additional 99,558 shares during the period.

Analyst Ratings Changes

A number of research analysts have weighed in on RACE shares. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Barclays cut shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating for the company. UBS Group lifted their price target on Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Evercore ISI upped their price objective on Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Ferrari currently has a consensus rating of “Moderate Buy” and an average price target of $507.14.

Ferrari Price Performance

NYSE:RACE opened at $482.56 on Thursday. Ferrari has a 52-week low of $375.31 and a 52-week high of $498.23. The company has a market cap of $117.62 billion, a P/E ratio of 52.74, a P/E/G ratio of 4.04 and a beta of 0.95. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. The stock’s 50-day simple moving average is $436.68 and its 200 day simple moving average is $450.64.

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.