Amundi Pioneer Asset Management Inc. Acquires 240,272 Shares of Ferrari (NYSE:RACE)
Amundi Pioneer Asset Management Inc. raised its holdings in shares of Ferrari (NYSE:RACE) by 15.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,800,978 shares of the company’s stock after acquiring an additional 240,272 shares during the quarter. Amundi Pioneer Asset Management Inc. owned approximately 0.97% of Ferrari worth $413,361,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in Ferrari during the 4th quarter valued at $439,841,000. Price T Rowe Associates Inc. MD lifted its holdings in Ferrari by 4.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,996,362 shares of the company’s stock valued at $1,835,620,000 after purchasing an additional 322,796 shares during the last quarter. Lord Abbett & CO. LLC acquired a new stake in Ferrari during the 4th quarter valued at $65,071,000. Barclays PLC lifted its holdings in Ferrari by 47.8% during the 4th quarter. Barclays PLC now owns 527,793 shares of the company’s stock valued at $121,137,000 after purchasing an additional 170,747 shares during the last quarter. Finally, Bank of Italy lifted its holdings in Ferrari by 9.1% during the 4th quarter. Bank of Italy now owns 1,993,994 shares of the company’s stock valued at $461,594,000 after purchasing an additional 165,750 shares during the last quarter. 32.49% of the stock is owned by institutional investors.
Ferrari stock opened at $208.80 on Thursday. Ferrari has a one year low of $147.08 and a one year high of $233.66. The company has a debt-to-equity ratio of 1.80, a current ratio of 4.63 and a quick ratio of 3.93. The stock’s 50 day moving average is $199.04 and its 200 day moving average is $203.64. The firm has a market cap of $38.58 billion, a P/E ratio of 67.14, a P/E/G ratio of 4.59 and a beta of 1.00.
RACE has been the subject of several research reports. Morgan Stanley raised their price target on Ferrari from $265.00 to $273.00 and gave the company an “overweight” rating in a report on Wednesday, February 3rd. Citigroup cut Ferrari from a “neutral” rating to a “sell” rating in a research report on Wednesday, February 3rd. UBS Group lowered their price objective on Ferrari from $247.00 to $238.00 and set a “buy” rating on the stock in a research report on Tuesday, March 30th. HSBC cut Ferrari from a “buy” rating to a “hold” rating in a research report on Thursday, February 11th. Finally, Smith Barney Citigroup cut Ferrari from a “buy” rating to a “neutral” rating in a research report on Thursday, January 7th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the stock. Ferrari has an average rating of “Hold” and a consensus price target of $212.60.
Ferrari Company Profile
Ferrari N.V., through its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hypercars; one-off and track cars; and Icona cars. It also provides racing cars; and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.
Featured Article: Stock Portfolio Tracker
Want to see what other hedge funds are holding RACE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ferrari (NYSE:RACE).
Receive News & Ratings for Ferrari Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ferrari and related companies with MarketBeat.com's FREE daily email newsletter.