Ferrari (NYSE:RACE) Shares Bought by MML Investors Services LLC

MML Investors Services LLC grew its position in Ferrari (NYSE:RACE) by 4.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,483 shares of the company’s stock after buying an additional 1,009 shares during the quarter. MML Investors Services LLC’s holdings in Ferrari were worth $10,099,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Jennison Associates LLC increased its holdings in shares of Ferrari by 910.1% during the 3rd quarter. Jennison Associates LLC now owns 2,926,616 shares of the company’s stock worth $1,368,622,000 after buying an additional 2,636,869 shares during the last quarter. Legal & General Group Plc lifted its holdings in Ferrari by 2.4% in the 2nd quarter. Legal & General Group Plc now owns 1,256,482 shares of the company’s stock worth $512,660,000 after buying an additional 30,014 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Ferrari by 47,023.5% in the third quarter. International Assets Investment Management LLC now owns 1,180,916 shares of the company’s stock valued at $5,551,600,000 after purchasing an additional 1,178,410 shares during the last quarter. Marshall Wace LLP grew its position in shares of Ferrari by 108.4% during the second quarter. Marshall Wace LLP now owns 887,108 shares of the company’s stock worth $361,961,000 after buying an additional 461,409 shares in the last quarter. Finally, Clearbridge Investments LLC increased its holdings in Ferrari by 25.8% in the second quarter. Clearbridge Investments LLC now owns 479,135 shares of the company’s stock valued at $195,664,000 after buying an additional 98,225 shares during the last quarter.

Wall Street Analysts Forecast Growth

RACE has been the subject of a number of analyst reports. 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. Morgan Stanley raised their price objective on Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, August 27th. Evercore ISI boosted 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. StockNews.com cut Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. raised Ferrari from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $385.00 to $525.00 in a report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $507.14.

Ferrari Stock Performance

NYSE:RACE opened at $448.56 on Wednesday. Ferrari has a fifty-two week low of $330.15 and a fifty-two week high of $498.23. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. The company has a 50 day simple moving average of $455.63 and a two-hundred day simple moving average of $444.90.

Ferrari (NYSE:RACE) last announced its earnings results on Tuesday, November 5th. The company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.03). Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the prior year, the company earned $1.98 EPS. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, analysts forecast that Ferrari will post 8.58 earnings per share for the current year.

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.