Sei Investments Co. Acquires 9,775 Shares of Ferrari (NYSE:RACE)

Sei Investments Co. raised its stake in shares of Ferrari (NYSE:RACE) by 32.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,807 shares of the company’s stock after buying an additional 9,775 shares during the period. Sei Investments Co.’s holdings in Ferrari were worth $16,258,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in RACE. Elite Wealth Management Inc. raised its stake in shares of Ferrari by 7.1% in the 2nd quarter. Elite Wealth Management Inc. now owns 2,581 shares of the company’s stock valued at $1,054,000 after acquiring an additional 172 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in Ferrari by 5.0% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 588 shares of the company’s stock valued at $240,000 after purchasing an additional 28 shares during the last quarter. Inspire Investing LLC raised its position in shares of Ferrari by 4.4% in the second quarter. Inspire Investing LLC now owns 4,075 shares of the company’s stock valued at $1,664,000 after purchasing an additional 171 shares during the period. Blair William & Co. IL grew its stake in Ferrari by 2.0% in the 2nd quarter. Blair William & Co. IL now owns 3,805 shares of the company’s stock valued at $1,554,000 after buying an additional 74 shares during the last quarter. Finally, Marsico Capital Management LLC lifted its position in Ferrari by 33.1% during the 2nd quarter. Marsico Capital Management LLC now owns 41,714 shares of the company’s stock worth $17,035,000 after acquiring an additional 10,385 shares during the last quarter.

Ferrari Stock Performance

Shares of NYSE RACE opened at $477.98 on Friday. Ferrari has a one year low of $285.02 and a one year high of $498.23. The company has a current ratio of 4.35, a quick ratio of 3.32 and a debt-to-equity ratio of 1.01. The business has a fifty day simple moving average of $453.51 and a 200 day simple moving average of $431.27. The firm has a market capitalization of $88.31 billion, a price-to-earnings ratio of 61.04, a PEG ratio of 4.97 and a beta of 1.00.

Ferrari (NYSE:RACE) last released its quarterly earnings data on Thursday, August 1st. The company reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.08. The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.63 billion. Ferrari had a net margin of 21.84% and a return on equity of 45.13%. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period last year, the firm earned $1.99 EPS. Sell-side analysts expect that Ferrari will post 8.81 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on RACE shares. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 2nd. Morgan Stanley boosted their target price on shares of Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 27th. Finally, UBS Group increased their price target on shares of Ferrari from $448.00 to $478.00 and gave the company a “buy” rating in a report on Monday, June 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $481.67.

Ferrari Profile

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.