Ferrari (NYSE:RACE) Shares Acquired by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. lifted its position in shares of Ferrari (NYSE:RACE - Free Report) by 270.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 164,235 shares of the company's stock after purchasing an additional 119,911 shares during the quarter. Balyasny Asset Management L.P. owned about 0.07% of Ferrari worth $69,774,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RACE. Hanson & Doremus Investment Management bought a new position in shares of Ferrari during the fourth quarter valued at $26,000. Armstrong Advisory Group Inc. increased its stake in shares of Ferrari by 100.0% in the 4th quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company's stock worth $42,000 after purchasing an additional 50 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in Ferrari in the 4th quarter worth approximately $45,000. Plato Investment Management Ltd bought a new position in shares of Ferrari in the fourth quarter worth about $53,000. Finally, Newbridge Financial Services Group Inc. lifted its stake in Ferrari by 705.9% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 137 shares of the company's stock worth $58,000 after purchasing an additional 120 shares in the last quarter.

Ferrari Stock Up 1.6 %

Shares of NYSE RACE traded up $7.55 during trading hours on Friday, hitting $488.26. 269,889 shares of the stock were exchanged, compared to its average volume of 328,598. Ferrari has a 12 month low of $391.54 and a 12 month high of $509.13. The firm has a fifty day moving average price of $441.81 and a 200-day moving average price of $446.95. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. The company has a market cap of $118.34 billion, a PE ratio of 53.36, a PEG ratio of 4.43 and a beta of 1.13.

Ferrari (NYSE:RACE - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.36 by $0.06. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.82 billion. Ferrari had a return on equity of 46.69% and a net margin of 22.81%. The business's quarterly revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.95 earnings per share. On average, sell-side analysts expect that Ferrari will post 9.22 EPS for the current year.

Ferrari Increases Dividend

The business also recently announced an annual dividend, which was paid on Tuesday, May 6th. Investors of record on Wednesday, April 23rd were paid a $3.1265 dividend. The ex-dividend date of this dividend was Wednesday, April 23rd. This is a boost from Ferrari's previous annual dividend of $2.44. This represents a yield of 0.5%. Ferrari's dividend payout ratio (DPR) is 5.63%.

Analyst Ratings Changes

Several research firms have commented on RACE. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferrari in a research report on Thursday, February 6th. They set a "hold" rating for the company. Kepler Capital Markets raised Ferrari from a "hold" rating to a "buy" rating in a research report on Friday, March 28th. StockNews.com raised shares of Ferrari from a "hold" rating to a "buy" rating in a research note on Wednesday. Barclays upgraded shares of Ferrari from an "equal weight" rating to an "overweight" rating in a report on Friday, March 28th. Finally, JPMorgan Chase & Co. decreased their target price on Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, Ferrari presently has a consensus rating of "Moderate Buy" and an average target price of $501.60.

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.