Aigen Investment Management LP Buys 772 Shares of Ferrari (NYSE:RACE)

Aigen Investment Management LP grew its stake in shares of Ferrari (NYSE:RACE) by 150.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,286 shares of the company’s stock after purchasing an additional 772 shares during the quarter. Aigen Investment Management LP’s holdings in Ferrari were worth $605,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of RACE. E Fund Management Hong Kong Co. Ltd. bought a new stake in Ferrari in the third quarter worth $29,000. Rothschild Investment LLC bought a new stake in Ferrari in the second quarter worth $29,000. Ashton Thomas Securities LLC bought a new stake in Ferrari in the third quarter worth $33,000. Valley Wealth Managers Inc. bought a new stake in Ferrari in the second quarter worth $33,000. Finally, Denver PWM LLC bought a new stake in Ferrari in the second quarter worth $35,000.

Ferrari Price Performance

Shares of RACE opened at $439.59 on Thursday. The stock has a fifty day simple moving average of $468.71 and a two-hundred day simple moving average of $441.97. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. Ferrari has a 52-week low of $330.15 and a 52-week high of $498.23.

Ferrari (NYSE:RACE) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $2.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.03). The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.98 EPS. Analysts predict that Ferrari will post 8.75 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on RACE. Evercore ISI boosted their price target on shares of Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. StockNews.com cut shares of Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Barclays raised shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 2nd. UBS Group boosted 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. Finally, Morgan Stanley upped their price objective on shares of Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $507.14.

About 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.