Signaturefd LLC Cuts Stock Holdings in Ferrari (NYSE:RACE)

Signaturefd LLC lowered its stake in shares of Ferrari (NYSE:RACE) by 8.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,675 shares of the company’s stock after selling 256 shares during the quarter. Signaturefd LLC’s holdings in Ferrari were worth $905,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of RACE. Vanguard Group Inc. grew its holdings in shares of Ferrari by 1.4% in the third quarter. Vanguard Group Inc. now owns 4,441,408 shares of the company’s stock valued at $1,312,614,000 after acquiring an additional 61,132 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its position in shares of Ferrari by 12.0% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 2,140 shares of the company’s stock valued at $632,000 after purchasing an additional 230 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Ferrari by 1.0% during the 4th quarter. Sequoia Financial Advisors LLC now owns 4,247 shares of the company’s stock valued at $1,437,000 after purchasing an additional 40 shares during the last quarter. Alphinity Investment Management Pty Ltd bought a new stake in shares of Ferrari during the 3rd quarter worth $157,620,000. Finally, Syntal Capital Partners LLC purchased a new position in shares of Ferrari in the 3rd quarter worth about $511,000.

Ferrari Price Performance

NYSE RACE opened at $410.27 on Tuesday. The company’s 50 day simple moving average is $417.43 and its two-hundred day simple moving average is $368.72. The company has a current ratio of 3.91, a quick ratio of 2.98 and a debt-to-equity ratio of 0.81. Ferrari has a 1 year low of $273.39 and a 1 year high of $442.80.

Ferrari (NYSE:RACE) last posted its earnings results on Thursday, February 1st. The company reported $1.74 EPS for the quarter, topping the consensus estimate of $1.59 by $0.15. Ferrari had a return on equity of 43.84% and a net margin of 21.06%. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.61 billion. On average, research analysts anticipate that Ferrari will post 8.31 earnings per share for the current year.

Ferrari Dividend Announcement

The business also recently announced an annual dividend, which will be paid on Friday, May 3rd. Investors of record on Tuesday, April 23rd will be paid a $2.443 dividend. This represents a yield of 0.62%. The ex-dividend date is Monday, April 22nd.

Wall Street Analysts Forecast Growth

RACE has been the topic of several research reports. Barclays lowered shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Thursday, April 4th. UBS Group upped their price objective on Ferrari from $413.00 to $448.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Citigroup downgraded Ferrari from a “neutral” rating to a “sell” rating in a research report on Monday, March 4th. Bank of America boosted their target price on Ferrari from $458.00 to $512.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Finally, Evercore ISI increased their price target on Ferrari from $430.00 to $465.00 and gave the stock an “outperform” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Ferrari has a consensus rating of “Hold” and a consensus target price of $413.86.

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.