Gilder Gagnon Howe & Co. LLC Purchases 13,626 Shares of Ferrari (NYSE:RACE)

Gilder Gagnon Howe & Co. LLC boosted its stake in Ferrari (NYSE:RACE - Free Report) by 23.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 72,323 shares of the company's stock after buying an additional 13,626 shares during the period. Gilder Gagnon Howe & Co. LLC's holdings in Ferrari were worth $30,726,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Hanson & Doremus Investment Management purchased a new stake in Ferrari during the fourth quarter valued at about $26,000. Armstrong Advisory Group Inc. boosted its stake in shares of Ferrari by 100.0% during the 4th 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 acquired a new position in Ferrari during the fourth quarter valued at approximately $45,000. Plato Investment Management Ltd bought a new position in Ferrari in the 4th quarter worth $53,000. Finally, Newbridge Financial Services Group Inc. boosted 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 during the period.

Ferrari Stock Performance

Shares of Ferrari stock traded up $2.46 on Thursday, reaching $464.24. 103,607 shares of the company traded hands, compared to its average volume of 329,083. The company has a 50 day moving average of $442.75 and a 200 day moving average of $447.24. Ferrari has a 52 week low of $391.54 and a 52 week high of $509.13. The firm has a market capitalization of $112.52 billion, a PE ratio of 50.73, a PEG ratio of 4.43 and a beta of 1.03. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55.

Ferrari Increases Dividend

The business 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. This is a boost from Ferrari's previous annual dividend of $2.44. The ex-dividend date is Wednesday, April 23rd. This represents a yield of 0.5%. Ferrari's dividend payout ratio is 5.63%.

Analyst Ratings Changes

Several research analysts recently commented on the company. UBS Group reduced their target price on Ferrari from $584.00 to $520.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferrari in a research report on Thursday, February 6th. They issued a "hold" rating for the company. Barclays upgraded Ferrari from an "equal weight" rating to an "overweight" rating in a report on Friday, March 28th. JPMorgan Chase & Co. cut their price target on Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Finally, Kepler Capital Markets raised shares of Ferrari from a "hold" rating to a "buy" rating in a research note on Friday, March 28th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $481.60.

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.