Quantbot Technologies LP Has $8.46 Million Stake in Ferrari (NYSE:RACE)

Quantbot Technologies LP lifted its position in Ferrari (NYSE:RACE - Free Report) by 82.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 19,903 shares of the company's stock after purchasing an additional 8,977 shares during the quarter. Quantbot Technologies LP's holdings in Ferrari were worth $8,456,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Bank of Italy raised its position in Ferrari by 2.8% in the 4th quarter. Bank of Italy now owns 2,339,620 shares of the company's stock valued at $1,002,392,000 after purchasing an additional 63,675 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Ferrari by 2.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,612,108 shares of the company's stock valued at $684,888,000 after buying an additional 38,356 shares during the last quarter. William Blair Investment Management LLC lifted its position in Ferrari by 6.4% during the 4th quarter. William Blair Investment Management LLC now owns 594,657 shares of the company's stock worth $252,634,000 after buying an additional 35,525 shares in the last quarter. Banco Santander S.A. grew its holdings in Ferrari by 4.2% during the 4th quarter. Banco Santander S.A. now owns 414,720 shares of the company's stock worth $176,190,000 after acquiring an additional 16,663 shares during the last quarter. Finally, Barclays PLC increased its position in Ferrari by 6.1% in the 3rd quarter. Barclays PLC now owns 286,564 shares of the company's stock valued at $134,719,000 after acquiring an additional 16,428 shares in the last quarter.

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Analyst Ratings Changes

RACE has been the topic of several research analyst reports. Barclays cut shares of Ferrari from an "overweight" rating to an "equal weight" rating in a research note on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a research report on Thursday, February 6th. They set a "hold" rating for the company. Finally, StockNews.com upgraded Ferrari from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Ferrari has an average rating of "Moderate Buy" and a consensus price target of $507.14.

Ferrari Trading Down 0.4 %

NYSE:RACE traded down $1.84 during mid-day trading on Tuesday, hitting $433.99. The company had a trading volume of 356,204 shares, compared to its average volume of 288,062. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. Ferrari has a fifty-two week low of $399.27 and a fifty-two week high of $509.13. The firm has a market cap of $105.19 billion, a P/E ratio of 47.43, a P/E/G ratio of 4.43 and a beta of 0.94. The business's fifty day moving average is $456.37 and its two-hundred day moving average is $453.47.

Ferrari Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Tuesday, May 6th. Investors of record on Wednesday, April 23rd will be issued a dividend of $3.1265 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a yield of 0.5%. This is a boost from Ferrari's previous annual dividend of $2.44. Ferrari's payout ratio is currently 5.63%.

About Ferrari

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.