FDx Advisors Inc. Lowers Stake in Ferrari (NYSE:RACE)

FDx Advisors Inc. lessened its position in shares of Ferrari (NYSE:RACE) by 11.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,028 shares of the company’s stock after selling 274 shares during the period. FDx Advisors Inc.’s holdings in Ferrari were worth $862,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Sapient Capital LLC grew its position in Ferrari by 1.0% during the fourth quarter. Sapient Capital LLC now owns 67,322 shares of the company’s stock valued at $28,737,000 after acquiring an additional 653 shares during the period. Cerity Partners LLC boosted its position in shares of Ferrari by 14.0% in the third quarter. Cerity Partners LLC now owns 26,915 shares of the company’s stock worth $12,653,000 after buying an additional 3,308 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Ferrari by 156.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,400 shares of the company’s stock worth $2,731,000 after buying an additional 3,900 shares during the period. Miracle Mile Advisors LLC boosted its position in shares of Ferrari by 123.9% in the fourth quarter. Miracle Mile Advisors LLC now owns 9,005 shares of the company’s stock worth $3,826,000 after buying an additional 4,983 shares during the period. Finally, Mediolanum International Funds Ltd boosted its position in shares of Ferrari by 24.7% in the fourth quarter. Mediolanum International Funds Ltd now owns 9,071 shares of the company’s stock worth $3,874,000 after buying an additional 1,796 shares during the period.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RACE. Barclays downgraded Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 5th. UBS Group upped their target price on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a report on Thursday, February 6th. They issued a “hold” rating for the company. Finally, StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $507.14.

Ferrari Trading Up 1.4 %

Shares of RACE opened at $508.07 on Friday. The company has a market capitalization of $123.84 billion, a P/E ratio of 55.53, a P/E/G ratio of 4.37 and a beta of 0.95. Ferrari has a one year low of $393.92 and a one year high of $508.15. 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 has a 50-day moving average price of $443.58 and a 200 day moving average price of $454.12.

Ferrari 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.