Dynamic Technology Lab Private Ltd Has $869,000 Stock Position in Ferrari (NYSE:RACE)

Dynamic Technology Lab Private Ltd lifted its stake in shares of Ferrari (NYSE:RACE) by 16.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,045 shares of the company’s stock after purchasing an additional 289 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Ferrari were worth $869,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in RACE. HBK Sorce Advisory LLC boosted its holdings in Ferrari by 3.6% in the fourth quarter. HBK Sorce Advisory LLC now owns 626 shares of the company’s stock worth $266,000 after acquiring an additional 22 shares in the last quarter. Citizens Financial Group Inc. RI lifted its holdings in shares of Ferrari by 4.4% in the 4th quarter. Citizens Financial Group Inc. RI now owns 591 shares of the company’s stock worth $251,000 after purchasing an additional 25 shares in the last quarter. PDS Planning Inc grew its position in Ferrari by 4.8% in the 4th quarter. PDS Planning Inc now owns 589 shares of the company’s stock valued at $250,000 after purchasing an additional 27 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in Ferrari by 10.0% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 329 shares of the company’s stock valued at $140,000 after purchasing an additional 30 shares in the last quarter. Finally, EWA LLC raised its holdings in Ferrari by 6.6% during the third quarter. EWA LLC now owns 518 shares of the company’s stock worth $228,000 after buying an additional 32 shares during the last quarter.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, March 28th. UBS Group cut their price target on Ferrari from $584.00 to $520.00 and set a “buy” rating for the company in a research note on Tuesday, April 1st. Kepler Capital Markets raised Ferrari from a “hold” rating to a “buy” rating in a report on Friday, March 28th. Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a report on Thursday, February 6th. They issued a “hold” rating on the stock. Finally, JPMorgan Chase & Co. decreased their price target on Ferrari from $525.00 to $460.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Ferrari currently has a consensus rating of “Moderate Buy” and an average price target of $490.29.

Ferrari Stock Down 3.9 %

Shares of NYSE:RACE opened at $414.50 on Monday. The company has a market capitalization of $100.47 billion, a PE ratio of 45.30, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. The business has a fifty day moving average price of $455.45 and a two-hundred day moving average price of $450.92. Ferrari has a 1 year low of $393.55 and a 1 year high of $509.13.

Ferrari Increases Dividend

The business also recently declared an annual dividend, which will be paid on Tuesday, May 6th. Investors of record on Wednesday, April 23rd will be given a dividend of $3.1265 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a yield of 0.5%. This is a positive change from Ferrari’s previous annual dividend of $2.44. Ferrari’s dividend payout ratio is presently 5.63%.

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.