Aquatic Capital Management LLC Acquires New Shares in Ferrari (NYSE:RACE)

Aquatic Capital Management LLC purchased a new stake in shares of Ferrari (NYSE:RACE - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 25,641 shares of the company's stock, valued at approximately $10,893,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Hanson & Doremus Investment Management bought a new stake in shares of Ferrari in the fourth quarter worth $26,000. Armstrong Advisory Group Inc. increased its stake in shares of Ferrari by 100.0% in 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 bought a new stake in shares of Ferrari in the fourth quarter worth $45,000. Plato Investment Management Ltd acquired a new position in Ferrari in the fourth quarter worth $53,000. Finally, Newbridge Financial Services Group Inc. boosted its holdings in Ferrari by 705.9% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 137 shares of the company's stock worth $58,000 after purchasing an additional 120 shares during the period.

Wall Street Analysts Forecast Growth

RACE has been the subject of a number of research reports. UBS Group decreased 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. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferrari in a report on Thursday, February 6th. They issued a "hold" rating for the company. JPMorgan Chase & Co. reduced their price target on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Barclays raised shares of Ferrari from an "equal weight" rating to an "overweight" rating in a report on Friday, March 28th. Finally, StockNews.com downgraded shares of Ferrari from a "buy" rating to a "hold" rating in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Ferrari presently has a consensus rating of "Moderate Buy" and a consensus price target of $481.60.

Ferrari Trading Up 0.1 %

Shares of RACE traded up $0.53 during midday trading on Thursday, hitting $462.31. The stock had a trading volume of 125,556 shares, compared to its average volume of 329,186. Ferrari has a fifty-two week low of $391.54 and a fifty-two week high of $509.13. The business has a 50-day simple moving average of $442.75 and a two-hundred day simple moving average of $447.24. The firm has a market cap of $112.05 billion, a P/E ratio of 50.56, a price-to-earnings-growth ratio of 4.43 and a beta of 1.03. 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 business also recently announced an annual dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Wednesday, April 23rd will be paid a dividend of $3.1265 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a dividend yield of 0.5%. This is a positive change from Ferrari's previous annual dividend of $2.44. 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.