Symmetry Investments LP Buys 39,047 Shares of Ferrari (NYSE:RACE)

Symmetry Investments LP raised its stake in Ferrari (NYSE:RACE - Free Report) by 557.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,047 shares of the company's stock after buying an additional 39,047 shares during the period. Ferrari comprises about 1.0% of Symmetry Investments LP's investment portfolio, making the stock its 20th biggest position. Symmetry Investments LP's holdings in Ferrari were worth $19,563,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Hanson & Doremus Investment Management purchased a new stake in Ferrari during the 4th quarter valued at $26,000. Armstrong Advisory Group Inc. boosted its stake 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 acquiring an additional 50 shares in the last quarter. Kestra Investment Management LLC bought a new position in Ferrari during the 4th quarter valued at approximately $45,000. Plato Investment Management Ltd purchased a new stake in shares of Ferrari in the fourth quarter worth $53,000. Finally, Newbridge Financial Services Group Inc. increased its stake in Ferrari by 705.9% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 137 shares of the company's stock valued at $58,000 after purchasing an additional 120 shares in the last quarter.

Ferrari Trading Up 0.8 %

NYSE RACE traded up $3.88 during trading on Friday, hitting $460.70. The stock had a trading volume of 250,164 shares, compared to its average volume of 328,469. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. The stock has a 50 day simple moving average of $445.37 and a 200 day simple moving average of $447.22. Ferrari has a one year low of $391.54 and a one year high of $509.13. The stock has a market capitalization of $111.66 billion, a price-to-earnings ratio of 50.35, a P/E/G ratio of 4.43 and a beta of 1.03.

Ferrari Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Wednesday, April 23rd will be given a dividend of $3.1265 per share. 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 (DPR) is 5.63%.

Analysts Set New Price Targets

Several research firms have recently weighed in on RACE. Barclays upgraded 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 report on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft began coverage on shares of Ferrari in a research note on Thursday, February 6th. They set a "hold" rating on the stock. Kepler Capital Markets raised Ferrari from a "hold" rating to a "buy" rating in a report on Friday, March 28th. Finally, UBS Group dropped their price objective on shares of Ferrari from $584.00 to $520.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $481.60.

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.