Hantz Financial Services Inc. Buys 2,910 Shares of Ferrari N.V. $RACE

Hantz Financial Services Inc. lifted its position in Ferrari N.V. (NYSE:RACE) by 2,487.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,027 shares of the company’s stock after buying an additional 2,910 shares during the quarter. Hantz Financial Services Inc.’s holdings in Ferrari were worth $1,469,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Groupama Asset Managment lifted its stake in Ferrari by 24,598.5% in the 2nd quarter. Groupama Asset Managment now owns 16,073,800 shares of the company’s stock worth $7,888,057,000 after purchasing an additional 16,008,720 shares in the last quarter. Norges Bank bought a new position in shares of Ferrari in the second quarter worth $885,051,000. Bank of New York Mellon Corp raised its position in shares of Ferrari by 63.7% in the third quarter. Bank of New York Mellon Corp now owns 2,670,762 shares of the company’s stock worth $1,295,907,000 after buying an additional 1,039,234 shares in the last quarter. Viking Global Investors LP raised its position in shares of Ferrari by 432.7% in the second quarter. Viking Global Investors LP now owns 721,269 shares of the company’s stock worth $353,526,000 after buying an additional 585,872 shares in the last quarter. Finally, American Century Companies Inc. bought a new stake in Ferrari during the second quarter valued at $109,526,000.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. BNP Paribas Exane upgraded Ferrari to a “strong-buy” rating in a research note on Thursday, December 11th. Weiss Ratings restated a “hold (c+)” rating on shares of Ferrari in a research report on Monday, December 29th. UBS Group dropped their target price on shares of Ferrari from $563.00 to $555.00 and set a “buy” rating for the company in a research report on Friday, January 9th. Zacks Research raised shares of Ferrari from a “strong sell” rating to a “hold” rating in a research note on Monday, February 2nd. Finally, Barclays set a $420.00 price objective on shares of Ferrari and gave the company an “overweight” rating in a research report on Tuesday, December 9th. Three analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $480.67.

Ferrari Stock Down 0.1%

Shares of NYSE RACE opened at $334.32 on Friday. The stock has a market capitalization of $81.03 billion, a P/E ratio of 33.77, a PEG ratio of 3.64 and a beta of 0.99. Ferrari N.V. has a one year low of $328.00 and a one year high of $519.10. The firm’s 50 day simple moving average is $362.37 and its two-hundred day simple moving average is $416.88. The company has a debt-to-equity ratio of 0.76, a current ratio of 4.90 and a quick ratio of 3.78.

Ferrari (NYSE:RACE) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.35 by $0.15. Ferrari had a net margin of 22.65% and a return on equity of 44.20%. The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.94 billion. As a group, analysts expect that Ferrari N.V. will post 9.22 EPS for the current fiscal year.

About Ferrari

Ferrari N.V. (NYSE: RACE) is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company’s core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.