Generali Investments CEE investicni spolecnost a.s. Makes New Investment in Ferrari (NYSE:RACE)

Generali Investments CEE investicni spolecnost a.s. bought a new position in Ferrari (NYSE:RACE - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 7,900 shares of the company's stock, valued at approximately $3,371,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Elite Wealth Management Inc. raised its position in shares of Ferrari by 1.0% during the 3rd quarter. Elite Wealth Management Inc. now owns 2,606 shares of the company's stock valued at $1,225,000 after acquiring an additional 25 shares in the last quarter. Addison Advisors LLC raised its holdings in shares of Ferrari by 13.6% during the third quarter. Addison Advisors LLC now owns 217 shares of the company's stock worth $102,000 after purchasing an additional 26 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in shares of Ferrari by 10.0% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 329 shares of the company's stock worth $140,000 after buying an additional 30 shares during the last quarter. Caprock Group LLC boosted its holdings in shares of Ferrari by 1.7% in the 3rd quarter. Caprock Group LLC now owns 1,823 shares of the company's stock valued at $857,000 after buying an additional 31 shares during the period. Finally, EWA LLC boosted its holdings in shares of Ferrari by 6.6% in the 3rd quarter. EWA LLC now owns 518 shares of the company's stock valued at $228,000 after buying an additional 32 shares during the period.

Analysts Set New Price Targets

A number of equities analysts have issued reports on RACE shares. Deutsche Bank Aktiengesellschaft began coverage on shares of Ferrari in a report on Thursday, February 6th. They issued a "hold" rating on the stock. Barclays downgraded Ferrari from an "overweight" rating to an "equal weight" rating in a report on Wednesday, February 5th. Finally, StockNews.com downgraded Ferrari from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $507.14.

Remove Ads

Ferrari Stock Performance

RACE traded up $5.58 during trading hours on Tuesday, hitting $442.66. The company's stock had a trading volume of 524,790 shares, compared to its average volume of 283,326. The company has a 50-day simple moving average of $452.39 and a 200 day simple moving average of $456.45. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $107.29 billion, a PE ratio of 48.38, a PEG ratio of 4.43 and a beta of 0.94. Ferrari has a fifty-two week low of $399.27 and a fifty-two week high of $509.13.

Ferrari Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Wednesday, April 23rd will be issued a dividend of $3.1265 per share. This represents a dividend yield of 0.5%. This is a positive change from Ferrari's previous annual dividend of $2.44. The ex-dividend date of this dividend is Wednesday, April 23rd. Ferrari's dividend payout ratio (DPR) is 5.63%.

Ferrari Company 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.