Fox Run Management L.L.C. Makes New Investment in Ferrari N.V. $RACE

Fox Run Management L.L.C. bought a new position in shares of Ferrari N.V. (NYSE:RACEFree Report) during the 4th quarter, Holdings Channel.com reports. The firm bought 2,153 shares of the company’s stock, valued at approximately $796,000.

Several other hedge funds have also recently made changes to their positions in the business. Manchester Capital Management LLC raised its position in shares of Ferrari by 77.5% in the 4th quarter. Manchester Capital Management LLC now owns 387 shares of the company’s stock worth $143,000 after acquiring an additional 169 shares in the last quarter. Capital Research Global Investors raised its position in shares of Ferrari by 13.1% in the 4th quarter. Capital Research Global Investors now owns 898,442 shares of the company’s stock worth $333,933,000 after acquiring an additional 104,319 shares in the last quarter. Havemeyer Place LP bought a new position in shares of Ferrari in the 4th quarter worth about $1,003,000. Prudential PLC raised its position in shares of Ferrari by 5.8% in the 4th quarter. Prudential PLC now owns 12,711 shares of the company’s stock worth $4,753,000 after acquiring an additional 693 shares in the last quarter. Finally, Sivia Capital Partners LLC raised its position in shares of Ferrari by 33.6% in the 4th quarter. Sivia Capital Partners LLC now owns 879 shares of the company’s stock worth $325,000 after acquiring an additional 221 shares in the last quarter.

Wall Street Analyst Weigh In

RACE has been the subject of several research analyst reports. Jefferies Financial Group raised Ferrari from a “hold” rating to a “buy” rating in a research report on Tuesday, March 31st. Sanford C. Bernstein reissued an “outperform” rating on shares of Ferrari in a research report on Tuesday, June 2nd. JPMorgan Chase & Co. lifted their price objective on Ferrari from $407.00 to $447.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 3rd. Morgan Stanley set a $420.00 price objective on Ferrari in a research report on Monday, February 16th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ferrari in a research report on Friday, April 10th. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Ferrari currently has a consensus rating of “Moderate Buy” and an average price target of $469.06.

Check Out Our Latest Stock Analysis on Ferrari

Ferrari Price Performance

RACE stock opened at $347.68 on Thursday. The company has a market capitalization of $81.34 billion, a P/E ratio of 33.36, a price-to-earnings-growth ratio of 3.40 and a beta of 0.93. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.08 and a current ratio of 5.20. Ferrari N.V. has a 52-week low of $312.51 and a 52-week high of $519.10. The business has a 50-day simple moving average of $344.79 and a two-hundred day simple moving average of $354.31.

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Ferrari Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Ferrari (NYSE:RACE)

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