Ferrari (NYSE:RACE) Shares Bought by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC increased its holdings in Ferrari (NYSE:RACE) by 9.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,309 shares of the company’s stock after purchasing an additional 202 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Ferrari were worth $781,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Lindbrook Capital LLC lifted its stake in Ferrari by 8.1% during the fourth quarter. Lindbrook Capital LLC now owns 508 shares of the company’s stock valued at $172,000 after buying an additional 38 shares in the last quarter. Calamos Wealth Management LLC raised its holdings in shares of Ferrari by 30.6% during the fourth quarter. Calamos Wealth Management LLC now owns 5,853 shares of the company’s stock valued at $1,981,000 after acquiring an additional 1,371 shares during the period. Geneva Partners LLC purchased a new stake in shares of Ferrari in the 4th quarter valued at approximately $345,000. Federated Hermes Inc. boosted its stake in Ferrari by 55,090.5% in the 4th quarter. Federated Hermes Inc. now owns 23,180 shares of the company’s stock worth $7,813,000 after purchasing an additional 23,138 shares during the period. Finally, Rakuten Securities Inc. purchased a new position in Ferrari during the 4th quarter worth approximately $78,000.

Ferrari Trading Down 1.0 %

Shares of RACE opened at $408.65 on Monday. The company has a quick ratio of 2.98, a current ratio of 3.91 and a debt-to-equity ratio of 0.81. The firm’s 50 day moving average price is $416.97 and its 200 day moving average price is $367.95. Ferrari has a twelve month low of $272.70 and a twelve month high of $442.80.

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

Ferrari Announces Dividend

The business also recently declared 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. The ex-dividend date is Monday, April 22nd. This represents a dividend yield of 0.62%.

Analysts Set New Price Targets

RACE has been the topic of a number of research analyst reports. Sanford C. Bernstein lifted their price target on Ferrari from $448.00 to $512.00 and gave the company an “outperform” rating in a report on Thursday. StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a report on Friday, March 22nd. Citigroup cut shares of Ferrari from a “neutral” rating to a “sell” rating in a report on Monday, March 4th. Barclays lowered shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Thursday, April 4th. Finally, UBS Group increased their target price on shares of Ferrari from $413.00 to $448.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $393.86.

About Ferrari

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.