Mesirow Financial Investment Management Inc. Sells 144 Shares of Ferrari (NYSE:RACE)

Mesirow Financial Investment Management Inc. reduced its position in Ferrari (NYSE:RACE) by 11.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,153 shares of the company’s stock after selling 144 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Ferrari were worth $471,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Quantbot Technologies LP raised its holdings in shares of Ferrari by 3,661.4% in the second quarter. Quantbot Technologies LP now owns 7,598 shares of the company’s stock valued at $3,103,000 after acquiring an additional 7,396 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Ferrari by 25.1% in the second quarter. Dimensional Fund Advisors LP now owns 151,750 shares of the company’s stock worth $61,970,000 after purchasing an additional 30,461 shares in the last quarter. Capital Wealth Planning LLC raised its holdings in Ferrari by 22.3% in the second quarter. Capital Wealth Planning LLC now owns 9,185 shares of the company’s stock worth $3,751,000 after purchasing an additional 1,674 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in Ferrari by 30.1% in the second quarter. Oppenheimer Asset Management Inc. now owns 2,286 shares of the company’s stock worth $934,000 after purchasing an additional 529 shares in the last quarter. Finally, Thoroughbred Financial Services LLC raised its holdings in Ferrari by 309.2% in the second quarter. Thoroughbred Financial Services LLC now owns 4,693 shares of the company’s stock worth $1,916,000 after purchasing an additional 3,546 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. 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 report on Tuesday, August 27th. Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, August 2nd. UBS Group boosted their price target on Ferrari from $448.00 to $478.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Finally, StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ferrari presently has a consensus rating of “Moderate Buy” and a consensus target price of $481.67.

Ferrari Price Performance

Shares of RACE stock opened at $462.86 on Wednesday. The stock’s 50-day simple moving average is $448.45 and its 200-day simple moving average is $429.05. The firm has a market capitalization of $85.51 billion, a price-to-earnings ratio of 59.11, a PEG ratio of 4.98 and a beta of 1.00. Ferrari has a fifty-two week low of $285.02 and a fifty-two week high of $498.23. The company has a debt-to-equity ratio of 1.01, a quick ratio of 3.32 and a current ratio of 4.35.

Ferrari (NYSE:RACE) last issued its earnings results on Thursday, August 1st. The company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.08. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.63 billion. Ferrari had a return on equity of 45.13% and a net margin of 21.84%. Ferrari’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.99 earnings per share. As a group, equities analysts forecast that Ferrari will post 8.71 earnings per share for the current fiscal year.

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.