Investment House LLC Raises Stock Holdings in Ferrari N.V. $RACE

Investment House LLC increased its position in Ferrari N.V. (NYSE:RACE) by 82.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,608 shares of the company’s stock after acquiring an additional 2,995 shares during the period. Investment House LLC’s holdings in Ferrari were worth $2,442,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Westside Investment Management Inc. raised its stake in Ferrari by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 56 shares of the company’s stock worth $27,000 after acquiring an additional 28 shares during the last quarter. Root Financial Partners LLC purchased a new position in shares of Ferrari during the 3rd quarter valued at about $28,000. Community Bank N.A. purchased a new position in shares of Ferrari during the 3rd quarter valued at about $33,000. Entrust Financial LLC purchased a new position in shares of Ferrari during the 4th quarter valued at about $33,000. Finally, CoreCap Advisors LLC raised its stake in shares of Ferrari by 70.0% during the 4th quarter. CoreCap Advisors LLC now owns 102 shares of the company’s stock valued at $38,000 after buying an additional 42 shares during the last quarter.

Ferrari Price Performance

NYSE:RACE opened at $329.52 on Wednesday. Ferrari N.V. has a 52 week low of $312.51 and a 52 week high of $519.10. The company has a quick ratio of 4.08, a current ratio of 5.20 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $77.09 billion, a PE ratio of 31.62, a price-to-earnings-growth ratio of 3.10 and a beta of 0.95. The stock’s 50-day moving average price is $339.56 and its 200-day moving average price is $360.92.

Ferrari Increases Dividend

The firm also recently announced an annual dividend, which was paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 21st were given a dividend of $3.615 per share. This is a boost from Ferrari’s previous annual dividend of $3.13. The ex-dividend date was Tuesday, April 21st. This represents a dividend yield of 119.0%. Ferrari’s payout ratio is 4.94%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RACE. Zacks Research upgraded Ferrari from a “strong sell” rating to a “hold” rating in a research note on Monday, February 2nd. UBS Group reduced their price objective on Ferrari from $555.00 to $483.00 and set a “buy” rating for the company in a research note on Wednesday, April 1st. Jefferies Financial Group upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, March 31st. Royal Bank Of Canada reiterated an “outperform” rating on shares of Ferrari in a research note on Wednesday, February 11th. Finally, Citigroup upgraded Ferrari from a “sell” rating to a “neutral” rating in a research note on Thursday, February 12th. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $469.06.

Ferrari Company Profile

Ferrari N.V. (NYSE: RACE) is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company’s core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.