Today, State of Wisconsin Investment Board decides to keep it stake in Ferrari (RACE) to the level of $4,932,000

Today, State of Wisconsin Investment Board decides to keep it stake in Ferrari (RACE) to the level of $4,932,000
State of Wisconsin Investment Board cut its stake in Ferrari (NASDAQ:RACE) by 2.8% during the third quarter, Holdings Channel reports. The firm owned 94,932 shares of the company’s stock after selling 2,763 shares during the period. State of Wisconsin Investment Board owned about 0.05% of Ferrari worth $4,932,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RACE. Nikko Asset Management Americas Inc. acquired a new position in Ferrari during the third quarter valued at approximately $145,000. Stifel Financial Corp acquired a new position in Ferrari during the second quarter valued at approximately $271,000. AJO LP acquired a new position in Ferrari during the second quarter valued at approximately $286,000. Raymond James & Associates increased its position in Ferrari by 6.9% in the second quarter. Raymond James & Associates now owns 7,423 shares of the company’s stock valued at $302,000 after buying an additional 482 shares during the period. Finally, Carroll Financial Associates Inc. increased its position in Ferrari by 0.5% in the third quarter. Carroll Financial Associates Inc. now owns 7,714 shares of the company’s stock valued at $400,000 after buying an additional 35 shares during the period.

Ferrari (NASDAQ:RACE) traded up 2.01% during mid-day trading on Friday, reaching $54.78. 288,583 shares of the company’s stock traded hands. The stock has a 50 day moving average of $53.11 and a 200 day moving average of $47.21. Ferrari has a 12-month low of $31.66 and a 12-month high of $54.99. The company has a market cap of $10.35 billion and a P/E ratio of 28.27.

Ferrari (NASDAQ:RACE) last issued its earnings results on Monday, November 7th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.06. The firm earned $783 million during the quarter, compared to analysts’ expectations of $826.93 million. The firm’s revenue was up 8.3% compared to the same quarter last year. On average, equities research analysts predict that Ferrari will post $2.19 earnings per share for the current fiscal year.

Several research analysts recently commented on the stock. Citigroup Inc. reaffirmed a “neutral” rating on shares of Ferrari in a report on Friday, October 21st. Zacks Investment Research raised shares of Ferrari from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a report on Saturday, August 20th. Berenberg Bank assumed coverage on shares of Ferrari in a report on Tuesday. They issued a “buy” rating for the company. Evercore ISI raised shares of Ferrari from a “sell” rating to a “hold” rating in a report on Tuesday, November 8th. Finally, Societe Generale assumed coverage on shares of Ferrari in a report on Thursday, October 13th. They issued a “sell” rating and a $45.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. Ferrari has a consensus rating of “Hold” and an average target price of $51.67.

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