Goodman Advisory Group LLC Sells 998 Shares of Ferrari (NYSE:RACE)

Goodman Advisory Group LLC cut its stake in shares of Ferrari (NYSE:RACE) by 14.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,037 shares of the company’s stock after selling 998 shares during the quarter. Goodman Advisory Group LLC’s holdings in Ferrari were worth $2,043,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of RACE. Norges Bank acquired a new position in Ferrari during the fourth quarter worth $354,547,000. Legal & General Group Plc raised its holdings in Ferrari by 8,986.8% during the third quarter. Legal & General Group Plc now owns 1,004,094 shares of the company’s stock worth $297,327,000 after buying an additional 993,044 shares during the last quarter. Bank of America Corp DE raised its holdings in Ferrari by 139.6% during the first quarter. Bank of America Corp DE now owns 939,555 shares of the company’s stock worth $254,563,000 after buying an additional 547,356 shares during the last quarter. Alphinity Investment Management Pty Ltd acquired a new position in Ferrari during the third quarter worth $157,620,000. Finally, JPMorgan Chase & Co. raised its holdings in Ferrari by 39.0% during the first quarter. JPMorgan Chase & Co. now owns 1,728,335 shares of the company’s stock worth $468,275,000 after buying an additional 484,782 shares during the last quarter.

Analyst Ratings Changes

Several research analysts have weighed in on RACE shares. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a report on Friday, March 22nd. UBS Group raised their price objective on shares of Ferrari from $413.00 to $448.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Citigroup lowered shares of Ferrari from a “neutral” rating to a “sell” rating in a research report on Monday, March 4th. Barclays lowered shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Thursday, April 4th. Finally, Bank of America increased their target price on shares of Ferrari from $458.00 to $512.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $363.57.

Ferrari Price Performance

Shares of RACE stock traded up $0.41 during trading hours on Wednesday, reaching $411.34. The stock had a trading volume of 203,404 shares, compared to its average volume of 219,887. The stock’s fifty day simple moving average is $415.39 and its 200 day simple moving average is $365.50. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.91 and a quick ratio of 2.98. Ferrari has a 12 month low of $272.70 and a 12 month high of $442.80.

Ferrari (NYSE:RACE) last released its quarterly earnings data on Thursday, February 1st. The company reported $1.74 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.15. Ferrari had a net margin of 21.06% and a return on equity of 43.84%. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.61 billion. As a group, analysts expect that Ferrari will post 8.31 EPS for the current year.

Ferrari Dividend Announcement

The business also recently announced a dividend, which will be paid on Friday, May 3rd. Shareholders of record on Tuesday, April 23rd will be given a dividend of $2.443 per share. The ex-dividend date is Monday, April 22nd. This represents a yield of 0.62%.

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.