Merlin Capital Inc Has $812,000 Holdings in Ferrari (NYSE:RACE)

Merlin Capital Inc trimmed its position in Ferrari (NYSE:RACE) by 3.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,398 shares of the company’s stock after selling 98 shares during the quarter. Ferrari makes up approximately 2.6% of Merlin Capital Inc’s holdings, making the stock its 5th largest position. Merlin Capital Inc’s holdings in Ferrari were worth $812,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in RACE. Legal & General Group Plc increased its holdings in shares of Ferrari by 8,986.8% in the 3rd quarter. Legal & General Group Plc now owns 1,004,094 shares of the company’s stock valued at $297,327,000 after acquiring an additional 993,044 shares during the last quarter. Alphinity Investment Management Pty Ltd bought a new position in Ferrari during the 3rd quarter worth $157,620,000. International Assets Investment Management LLC bought a new position in Ferrari during the 4th quarter worth $162,296,000. Mackenzie Financial Corp grew its stake in Ferrari by 172.8% during the 4th quarter. Mackenzie Financial Corp now owns 329,927 shares of the company’s stock worth $111,508,000 after buying an additional 208,966 shares during the last quarter. Finally, Banco Santander S.A. grew its stake in Ferrari by 68.7% during the 3rd quarter. Banco Santander S.A. now owns 452,217 shares of the company’s stock worth $133,840,000 after buying an additional 184,078 shares during the last quarter.

Ferrari Stock Performance

Ferrari stock traded down $8.15 during mid-day trading on Tuesday, hitting $414.29. The company’s stock had a trading volume of 83,967 shares, compared to its average volume of 302,361. The company has a quick ratio of 2.98, a current ratio of 3.91 and a debt-to-equity ratio of 0.81. Ferrari has a 52-week low of $273.39 and a 52-week high of $442.80. The firm’s 50 day moving average is $420.92 and its 200 day moving average is $372.75.

Ferrari (NYSE:RACE) last issued its earnings results on Thursday, February 1st. The company reported $1.74 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.15. Ferrari had a return on equity of 43.84% and a net margin of 21.06%. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.61 billion. Analysts anticipate that Ferrari will post 8.31 EPS for the current year.

Ferrari Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on RACE. Citigroup cut Ferrari from a “neutral” rating to a “sell” rating in a research note on Monday, March 4th. Sanford C. Bernstein increased their price target on Ferrari from $448.00 to $512.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Evercore ISI upped their price objective on Ferrari from $430.00 to $465.00 and gave the company an “outperform” rating in a report on Monday, April 22nd. StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, April 24th. Finally, UBS Group upped their price objective on Ferrari from $413.00 to $448.00 and gave the company a “buy” rating in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $413.86.

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.