Quadrant Capital Group LLC raised its holdings in Ferrari NV (NYSE:RACE) by 14.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,101 shares of the company’s stock after buying an additional 399 shares during the quarter. Quadrant Capital Group LLC’s holdings in Ferrari were worth $406,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in RACE. SkyTop Capital Management LLC raised its stake in shares of Ferrari by 5.3% during the fourth quarter. SkyTop Capital Management LLC now owns 10,000 shares of the company’s stock valued at $994,000 after acquiring an additional 500 shares during the last quarter. Virtu Financial LLC grew its holdings in shares of Ferrari by 151.0% during the first quarter. Virtu Financial LLC now owns 5,353 shares of the company’s stock valued at $716,000 after buying an additional 3,220 shares during the last quarter. Henry James International Management Inc. lifted its position in Ferrari by 51.4% during the first quarter. Henry James International Management Inc. now owns 53,963 shares of the company’s stock valued at $7,220,000 after purchasing an additional 18,330 shares during the period. Cerebellum GP LLC bought a new position in Ferrari during the fourth quarter valued at approximately $260,000. Finally, Dimensional Fund Advisors LP lifted its position in Ferrari by 2.8% during the third quarter. Dimensional Fund Advisors LP now owns 22,553 shares of the company’s stock valued at $3,088,000 after purchasing an additional 624 shares during the period. 34.69% of the stock is currently owned by institutional investors.
Several research analysts have weighed in on RACE shares. ValuEngine downgraded shares of Ferrari from a “buy” rating to a “hold” rating in a research report on Thursday, February 14th. Zacks Investment Research cut shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. Credit Suisse Group lifted their price target on shares of Ferrari from $148.00 to $158.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 8th. HSBC lowered shares of Ferrari from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Finally, Morgan Stanley upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $140.00 to $160.00 in a report on Thursday, May 9th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $141.26.
NYSE:RACE traded down $0.99 during trading hours on Wednesday, reaching $142.87. 181,757 shares of the company were exchanged, compared to its average volume of 427,887. The company has a debt-to-equity ratio of 1.39, a quick ratio of 3.67 and a current ratio of 4.27. The stock has a market capitalization of $27.04 billion, a PE ratio of 35.54, a P/E/G ratio of 2.01 and a beta of 1.53. Ferrari NV has a twelve month low of $93.85 and a twelve month high of $149.85.
Ferrari (NYSE:RACE) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.95 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.06. The company had revenue of $940.00 million during the quarter, compared to analysts’ expectations of $868.32 million. Ferrari had a net margin of 23.17% and a return on equity of 53.74%. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.78 earnings per share. Research analysts forecast that Ferrari NV will post 4.1 earnings per share for the current year.
The firm also recently announced an annual dividend, which was paid on Thursday, May 2nd. Stockholders of record on Wednesday, April 24th were given a $1.1677 dividend. This represents a dividend yield of 0.91%. This is a boost from Ferrari’s previous annual dividend of $0.88. The ex-dividend date was Tuesday, April 23rd.
Ferrari N.V., through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hypercars; Fuori series, one-off, and track cars; and Icona cars. It also provides non-registered racing cars; and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.
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