Independent Advisor Alliance Makes New $208,000 Investment in Ferrari (NYSE:RACE)

Independent Advisor Alliance acquired a new position in shares of Ferrari (NYSE:RACE) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 614 shares of the company’s stock, valued at approximately $208,000.

Several other large investors have also recently bought and sold shares of RACE. Financial Advocates Investment Management raised its position in shares of Ferrari by 6.2% during the 4th quarter. Financial Advocates Investment Management now owns 2,383 shares of the company’s stock valued at $805,000 after acquiring an additional 140 shares during the last quarter. Navellier & Associates Inc. increased its position in shares of Ferrari by 2.0% in the 4th quarter. Navellier & Associates Inc. now owns 13,736 shares of the company’s stock valued at $4,649,000 after buying an additional 274 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of Ferrari by 3.6% in the 4th quarter. Quadrant Capital Group LLC now owns 2,155 shares of the company’s stock valued at $729,000 after buying an additional 74 shares in the last quarter. Capital Wealth Planning LLC increased its position in shares of Ferrari by 124.0% in the 4th quarter. Capital Wealth Planning LLC now owns 3,300 shares of the company’s stock valued at $1,117,000 after buying an additional 1,827 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its position in shares of Ferrari by 1.3% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 3,862 shares of the company’s stock valued at $1,307,000 after buying an additional 51 shares in the last quarter.

Analysts Set New Price Targets

A number of research firms recently commented on RACE. Evercore ISI upped their price objective on shares of Ferrari from $430.00 to $465.00 and gave the company an “outperform” rating in a research report on Monday, April 22nd. Barclays cut shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Thursday, April 4th. Citigroup cut Ferrari from a “neutral” rating to a “sell” rating in a report on Monday, March 4th. Jefferies Financial Group initiated coverage on Ferrari in a report on Friday, May 10th. They set a “hold” rating and a $403.00 target price for the company. Finally, UBS Group increased their target price on Ferrari from $413.00 to $448.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ferrari currently has a consensus rating of “Hold” and an average target price of $456.67.

Ferrari Stock Down 0.8 %

Shares of NYSE:RACE opened at $415.05 on Thursday. Ferrari has a 52-week low of $283.20 and a 52-week high of $442.80. The company has a 50-day simple moving average of $420.46 and a 200 day simple moving average of $385.23. The company has a current ratio of 4.18, a quick ratio of 3.25 and a debt-to-equity ratio of 0.80.

Ferrari Dividend Announcement

The company also recently announced an annual dividend, which was paid on Friday, May 3rd. Investors of record on Tuesday, April 23rd were paid a $2.443 dividend. The ex-dividend date was Monday, April 22nd. This represents a yield of 0.62%.

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.