Ferrari (NYSE:RACE) Position Lessened by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC lowered its stake in shares of Ferrari (NYSE:RACE) by 4.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,189 shares of the company’s stock after selling 156 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Ferrari were worth $1,068,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Good Life Advisors LLC grew its position in Ferrari by 10.3% in the 4th quarter. Good Life Advisors LLC now owns 908 shares of the company’s stock worth $307,000 after purchasing an additional 85 shares during the last quarter. Procyon Advisors LLC bought a new stake in Ferrari during the 4th quarter valued at $225,000. Highland Capital Management LLC raised its stake in shares of Ferrari by 0.9% during the fourth quarter. Highland Capital Management LLC now owns 5,800 shares of the company’s stock valued at $1,963,000 after purchasing an additional 50 shares in the last quarter. Jamison Private Wealth Management Inc. bought a new position in Ferrari in the 4th quarter valued at about $27,000. Finally, Artemis Investment Management LLP acquired a new position in Ferrari during the 4th quarter valued at about $615,000.

Ferrari Price Performance

Shares of NYSE RACE traded down $3.22 during mid-day trading on Friday, reaching $435.94. The company had a trading volume of 176,385 shares, compared to its average volume of 251,552. The company has a current ratio of 3.91, a quick ratio of 2.98 and a debt-to-equity ratio of 0.81. Ferrari has a twelve month low of $267.80 and a twelve month high of $442.80. The stock’s 50 day moving average is $396.28 and its 200-day moving average is $352.77.

Ferrari (NYSE:RACE) last issued its earnings results on Thursday, February 1st. The company reported $1.74 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.15. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.61 billion. Ferrari had a return on equity of 43.84% and a net margin of 21.06%. Equities analysts forecast that Ferrari will post 8.45 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. UBS Group increased their price target on Ferrari from $413.00 to $448.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Citigroup lowered shares of Ferrari from a “neutral” rating to a “sell” rating in a research report on Monday, March 4th. HSBC downgraded Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, December 13th. BNP Paribas lowered Ferrari from an “outperform” rating to a “neutral” rating in a research report on Wednesday, December 13th. Finally, StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a research report on Friday, March 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $337.00.

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.