Headlands Technologies LLC Makes New $356,000 Investment in Ferrari (NYSE:RACE)

Headlands Technologies LLC acquired a new position in Ferrari (NYSE:RACE - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 838 shares of the company's stock, valued at approximately $356,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hanson & Doremus Investment Management bought a new position in shares of Ferrari in the 4th quarter worth $26,000. Armstrong Advisory Group Inc. boosted its holdings in Ferrari by 100.0% during the fourth quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company's stock worth $42,000 after buying an additional 50 shares during the last quarter. Kestra Investment Management LLC acquired a new position in shares of Ferrari during the 4th quarter worth about $45,000. Hobbs Group Advisors LLC bought a new stake in shares of Ferrari in the 3rd quarter valued at about $47,000. Finally, Plato Investment Management Ltd bought a new position in Ferrari during the 4th quarter worth approximately $53,000.

Ferrari Stock Down 4.8 %

Shares of RACE traded down $19.99 during mid-day trading on Monday, hitting $394.86. 691,803 shares of the company's stock were exchanged, compared to its average volume of 460,338. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. Ferrari has a 52 week low of $392.20 and a 52 week high of $509.13. The company has a market cap of $95.70 billion, a PE ratio of 43.15, a P/E/G ratio of 4.43 and a beta of 1.03. The company has a 50-day simple moving average of $455.45 and a 200 day simple moving average of $450.92.

Ferrari Increases Dividend

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on RACE. Kepler Capital Markets upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a report on Friday, March 28th. Barclays raised Ferrari from an "equal weight" rating to an "overweight" rating in a research note on Friday, March 28th. StockNews.com raised Ferrari from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. JPMorgan Chase & Co. cut their price objective on Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Ferrari in a research note on Thursday, February 6th. They set a "hold" rating for the company. Two investment analysts have rated the stock with a hold rating and nine 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 a consensus target price of $490.29.

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.