Atomi Financial Group Inc. Has $347,000 Position in Ferrari (NYSE:RACE)

Atomi Financial Group Inc. increased its holdings in shares of Ferrari (NYSE:RACE) by 12.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 797 shares of the company’s stock after purchasing an additional 88 shares during the period. Atomi Financial Group Inc.’s holdings in Ferrari were worth $347,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of RACE. Jamison Private Wealth Management Inc. bought a new position in shares of Ferrari during the 4th quarter valued at about $27,000. IAG Wealth Partners LLC bought a new stake in Ferrari in the 1st quarter valued at approximately $33,000. Register Financial Advisors LLC bought a new stake in Ferrari in the 1st quarter valued at approximately $33,000. Householder Group Estate & Retirement Specialist LLC lifted its stake in Ferrari by 320.0% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 105 shares of the company’s stock valued at $35,000 after acquiring an additional 80 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in Ferrari by 37.0% in the 4th quarter. Blue Trust Inc. now owns 111 shares of the company’s stock valued at $38,000 after acquiring an additional 30 shares in the last quarter.

Ferrari Stock Down 1.1 %

Shares of RACE stock traded down $4.99 during trading on Monday, reaching $430.17. 125,628 shares of the company’s stock were exchanged, compared to its average volume of 275,146. The company has a quick ratio of 3.25, a current ratio of 4.18 and a debt-to-equity ratio of 0.80. Ferrari has a twelve month low of $285.02 and a twelve month high of $442.80. The firm’s fifty day moving average price is $416.16 and its 200-day moving average price is $402.02.

Ferrari (NYSE:RACE) last posted its earnings results on Tuesday, May 7th. The company reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.08. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.73 billion. Ferrari had a return on equity of 43.94% and a net margin of 21.42%. As a group, research analysts predict that Ferrari will post 8.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Jefferies Financial Group assumed coverage on Ferrari in a research note on Friday, May 10th. They issued a “hold” rating and a $403.00 target price on the stock. Sanford C. Bernstein upped their price objective on Ferrari from $448.00 to $512.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Morgan Stanley reiterated an “overweight” rating and set a $400.00 price objective on shares of Ferrari in a research note on Monday, April 22nd. Barclays cut Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Thursday, April 4th. Finally, UBS Group upped their price objective on Ferrari from $448.00 to $478.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $461.67.

About Ferrari

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.