1,020 Shares in Ferrari (NYSE:RACE) Acquired by Geneva Partners LLC

Geneva Partners LLC acquired a new stake in shares of Ferrari (NYSE:RACE) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 1,020 shares of the company’s stock, valued at approximately $345,000.

A number of other large investors have also bought and sold shares of the company. Blue Trust Inc. increased its stake in shares of Ferrari by 37.0% in the fourth quarter. Blue Trust Inc. now owns 111 shares of the company’s stock worth $38,000 after purchasing an additional 30 shares in the last quarter. Merlin Capital Inc raised its holdings in Ferrari by 1.3% during the 3rd quarter. Merlin Capital Inc now owns 2,496 shares of the company’s stock valued at $738,000 after acquiring an additional 32 shares during the period. Allworth Financial LP raised its holdings in Ferrari by 17.0% during the 4th quarter. Allworth Financial LP now owns 255 shares of the company’s stock valued at $86,000 after acquiring an additional 37 shares during the period. Simplicity Solutions LLC lifted its position in shares of Ferrari by 2.8% during the third quarter. Simplicity Solutions LLC now owns 1,411 shares of the company’s stock worth $417,000 after acquiring an additional 39 shares in the last quarter. Finally, Stratos Wealth Partners LTD. boosted its holdings in shares of Ferrari by 1.8% in the third quarter. Stratos Wealth Partners LTD. now owns 2,217 shares of the company’s stock worth $655,000 after acquiring an additional 39 shares during the period.

Ferrari Price Performance

Shares of RACE stock traded down $3.97 during trading on Friday, hitting $408.65. The company had a trading volume of 282,858 shares, compared to its average volume of 308,609. The stock’s 50-day moving average is $416.97 and its two-hundred day moving average is $366.96. The stock has a market capitalization of $75.50 billion, a price-to-earnings ratio of 54.85, a price-to-earnings-growth ratio of 3.18 and a beta of 0.97. The company has a quick ratio of 2.98, a current ratio of 3.91 and a debt-to-equity ratio of 0.81. Ferrari has a 52 week low of $272.70 and a 52 week high of $442.80.

Ferrari (NYSE:RACE) last posted its quarterly earnings data on Thursday, February 1st. The company reported $1.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.15. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Ferrari had a return on equity of 43.84% and a net margin of 21.06%. As a group, analysts predict that Ferrari will post 8.31 EPS for the current fiscal year.

Ferrari Announces Dividend

The company also recently declared an annual dividend, which will be paid on Friday, May 3rd. Shareholders of record on Tuesday, April 23rd will be issued a $2.443 dividend. This represents a yield of 0.62%. The ex-dividend date is Monday, April 22nd. Ferrari’s dividend payout ratio (DPR) is presently 6.91%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RACE. Citigroup lowered Ferrari from a “neutral” rating to a “sell” rating in a research note on Monday, March 4th. Barclays cut Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Thursday, April 4th. Sanford C. Bernstein raised their price objective on shares of Ferrari from $448.00 to $512.00 and gave the company an “outperform” rating in a research report on Thursday. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a report on Friday, March 22nd. 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 note on Friday, February 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $393.86.

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.