Marshall Wace LLP Buys 520,337 Shares of Ferrari (NYSE:RACE)

Marshall Wace LLP raised its stake in shares of Ferrari (NYSE:RACE - Free Report) by 62.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,358,467 shares of the company's stock after acquiring an additional 520,337 shares during the period. Ferrari makes up approximately 0.7% of Marshall Wace LLP's holdings, making the stock its 15th biggest position. Marshall Wace LLP owned approximately 0.56% of Ferrari worth $579,561,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in RACE. XTX Topco Ltd lifted its holdings in Ferrari by 222.8% in the fourth quarter. XTX Topco Ltd now owns 3,767 shares of the company's stock valued at $1,600,000 after acquiring an additional 2,600 shares during the period. CreativeOne Wealth LLC lifted its stake in shares of Ferrari by 4.2% in the 4th quarter. CreativeOne Wealth LLC now owns 2,307 shares of the company's stock worth $980,000 after purchasing an additional 92 shares during the period. Mariner LLC boosted its holdings in shares of Ferrari by 2.3% in the fourth quarter. Mariner LLC now owns 13,494 shares of the company's stock worth $5,733,000 after buying an additional 302 shares during the last quarter. Barclays PLC grew its position in Ferrari by 198.0% during the fourth quarter. Barclays PLC now owns 853,971 shares of the company's stock valued at $362,802,000 after buying an additional 567,407 shares during the period. Finally, Townsquare Capital LLC increased its holdings in Ferrari by 2.4% during the fourth quarter. Townsquare Capital LLC now owns 5,566 shares of the company's stock valued at $2,365,000 after buying an additional 131 shares during the last quarter.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. StockNews.com raised shares of Ferrari from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. JPMorgan Chase & Co. lowered their target price on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Kepler Capital Markets upgraded Ferrari from a "hold" rating to a "buy" rating in a research note on Friday, March 28th. Barclays raised Ferrari from an "equal weight" rating to an "overweight" rating in a report on Friday, March 28th. Finally, UBS Group reduced their target price on Ferrari from $584.00 to $520.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $481.60.

Ferrari Trading Up 1.6 %

Shares of RACE stock traded up $7.01 during trading hours on Friday, reaching $439.76. 239,651 shares of the stock were exchanged, compared to its average volume of 327,939. The firm has a market capitalization of $106.59 billion, a price-to-earnings ratio of 48.06, a price-to-earnings-growth ratio of 4.43 and a beta of 1.03. Ferrari has a 12-month low of $391.54 and a 12-month high of $509.13. The company's 50-day moving average price is $450.23 and its 200-day moving average price is $447.40. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93.

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 $3.1265 dividend. This represents a dividend yield of 0.5%. This is an increase 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 is presently 5.63%.

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.