Victory Capital Management Inc. Acquires 337,810 Shares of Ferrari NV (RACE)
Victory Capital Management Inc. raised its holdings in Ferrari NV (NYSE:RACE) by 15,027.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 340,058 shares of the company’s stock after purchasing an additional 337,810 shares during the quarter. Victory Capital Management Inc. owned about 0.18% of Ferrari worth $45,911,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of RACE. Guggenheim Capital LLC increased its stake in shares of Ferrari by 23.0% during the fourth quarter. Guggenheim Capital LLC now owns 9,087 shares of the company’s stock worth $953,000 after acquiring an additional 1,700 shares during the period. Millennium Management LLC increased its stake in shares of Ferrari by 55.4% during the fourth quarter. Millennium Management LLC now owns 38,905 shares of the company’s stock worth $4,079,000 after acquiring an additional 13,873 shares during the period. Ashfield Capital Partners LLC increased its stake in shares of Ferrari by 4.1% during the first quarter. Ashfield Capital Partners LLC now owns 11,026 shares of the company’s stock worth $1,329,000 after acquiring an additional 437 shares during the period. Miracle Mile Advisors LLC acquired a new position in shares of Ferrari during the first quarter worth about $2,531,000. Finally, Wedbush Securities Inc. increased its stake in shares of Ferrari by 19.8% during the first quarter. Wedbush Securities Inc. now owns 2,530 shares of the company’s stock worth $305,000 after acquiring an additional 418 shares during the period. Institutional investors own 32.13% of the company’s stock.
Shares of Ferrari opened at $120.63 on Friday, according to Marketbeat. The company has a current ratio of 3.36, a quick ratio of 2.71 and a debt-to-equity ratio of 2.00. Ferrari NV has a twelve month low of $103.65 and a twelve month high of $149.85. The stock has a market cap of $23.40 billion, a price-to-earnings ratio of 33.74, a P/E/G ratio of 2.26 and a beta of 1.28.
RACE has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Ferrari from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 18th. Credit Suisse Group boosted their price target on shares of Ferrari from $150.00 to $156.00 and gave the stock an “outperform” rating in a research note on Friday, May 4th. Morgan Stanley boosted their price target on shares of Ferrari from $105.00 to $110.00 and gave the stock an “underweight” rating in a research note on Tuesday, May 22nd. Goldman Sachs Group assumed coverage on shares of Ferrari in a research note on Friday, May 25th. They set a “neutral” rating on the stock. Finally, ValuEngine upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Saturday, June 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. Ferrari presently has an average rating of “Hold” and a consensus target price of $136.57.
Ferrari N.V., through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports cars, GT cars, special series cars, limited edition supercars, limited editions series, and one-off cars; and open air roadsters and two-seater mid-rear-engined roadsters.
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