Lighthouse Investment Partners LLC Raises Holdings in Ferrari (NYSE:RACE)

Lighthouse Investment Partners LLC increased its position in Ferrari (NYSE:RACE - Free Report) by 17.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,700 shares of the company's stock after buying an additional 556 shares during the quarter. Lighthouse Investment Partners LLC's holdings in Ferrari were worth $1,580,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Ferrari by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 4,693,201 shares of the company's stock worth $2,002,581,000 after buying an additional 45,754 shares during the period. Bank of Italy raised its position in Ferrari by 2.8% in the fourth 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 period. Price T Rowe Associates Inc. MD raised its position in Ferrari by 49.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,796,264 shares of the company's stock valued at $763,125,000 after purchasing an additional 594,547 shares during the period. Norges Bank purchased a new position in Ferrari in the fourth quarter valued at about $697,226,000. Finally, Bank of New York Mellon Corp raised its position in 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 purchasing an additional 38,356 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a research report on Thursday, February 6th. They issued a "hold" rating on the stock. UBS Group raised their price objective on Ferrari from $520.00 to $560.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. cut their price objective on Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. StockNews.com raised Ferrari from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. Finally, Kepler Capital Markets raised Ferrari from a "hold" rating to a "buy" rating in a research report on Friday, March 28th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $526.25.

Ferrari Stock Up 0.8%

Shares of Ferrari stock opened at $490.87 on Wednesday. The business has a 50-day moving average of $443.84 and a 200-day moving average of $446.82. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. The company has a market capitalization of $118.98 billion, a PE ratio of 53.65, a P/E/G ratio of 4.43 and a beta of 1.13. Ferrari has a 1-year low of $391.54 and a 1-year high of $509.13.

Ferrari (NYSE:RACE - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.06. The company had revenue of $1.94 billion during 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 company's revenue was up 13.0% on a year-over-year basis. During the same period last year, the firm earned $1.95 earnings per share. As a group, equities analysts forecast that Ferrari will post 9.22 EPS for the current fiscal year.

Ferrari Increases Dividend

The company also recently declared an annual dividend, which was paid on Tuesday, May 6th. Investors of record on Wednesday, April 23rd were paid a $3.1265 dividend. This represents a yield of 0.5%. This is an increase from Ferrari's previous annual dividend of $2.44. The ex-dividend date of this dividend was Wednesday, April 23rd. Ferrari's dividend payout ratio (DPR) is 5.45%.

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.

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