Quad Cities Investment Group LLC boosted its position in shares of Ferrari NV (NYSE:RACE) by 100.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,000 shares of the company’s stock after purchasing an additional 500 shares during the quarter. Quad Cities Investment Group LLC’s holdings in Ferrari were worth $134,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bronfman E.L. Rothschild L.P. boosted its position in Ferrari by 36.3% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 398 shares of the company’s stock worth $40,000 after purchasing an additional 106 shares in the last quarter. Neuburgh Advisers LLC lifted its position in shares of Ferrari by 1,300.0% in the fourth quarter. Neuburgh Advisers LLC now owns 924 shares of the company’s stock valued at $92,000 after acquiring an additional 858 shares in the last quarter. Lindbrook Capital LLC purchased a new stake in shares of Ferrari in the fourth quarter valued at $94,000. Advisors Asset Management Inc. purchased a new stake in shares of Ferrari in the fourth quarter valued at $99,000. Finally, Belpointe Asset Management LLC purchased a new stake in shares of Ferrari in the third quarter valued at $111,000. Institutional investors own 34.96% of the company’s stock.
Several analysts have recently issued reports on the company. ValuEngine upgraded Ferrari from a “hold” rating to a “buy” rating in a research report on Monday, April 1st. Credit Suisse Group reduced their price objective on Ferrari from $160.00 to $140.00 and set an “outperform” rating on the stock in a research report on Monday, January 28th. Zacks Investment Research downgraded Ferrari from a “hold” rating to a “sell” rating in a research report on Friday, January 25th. Finally, Sanford C. Bernstein upgraded Ferrari from an “underperform” rating to a “market perform” rating and set a $112.29 price objective on the stock in a research report on Tuesday, January 15th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Ferrari has an average rating of “Hold” and an average target price of $133.66.
Ferrari stock traded down $1.39 during trading on Wednesday, hitting $136.70. The company’s stock had a trading volume of 104,249 shares, compared to its average volume of 303,251. The firm has a market capitalization of $26.09 billion, a P/E ratio of 34.00, a PEG ratio of 1.83 and a beta of 1.57. Ferrari NV has a 1-year low of $93.85 and a 1-year high of $149.85. The company has a current ratio of 3.75, a quick ratio of 3.15 and a debt-to-equity ratio of 1.42.
Ferrari (NYSE:RACE) last released its earnings results on Thursday, January 31st. The company reported $1.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.26. The firm had revenue of $964.27 million during the quarter, compared to analyst estimates of $967.04 million. Ferrari had a return on equity of 58.04% and a net margin of 22.91%. As a group, equities analysts predict that Ferrari NV will post 4.05 EPS for the current year.
The firm also recently announced an annual dividend, which will be paid on Thursday, May 2nd. Investors of record on Wednesday, April 24th will be paid a $1.1677 dividend. This is a positive change from Ferrari’s previous annual dividend of $0.88. This represents a yield of 0.91%. The ex-dividend date of this dividend is Tuesday, April 23rd.
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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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