Assetmark Inc. Acquires 276 Shares of Ferrari (NYSE:RACE)

Assetmark Inc. boosted its holdings in shares of Ferrari (NYSE:RACE) by 17.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,826 shares of the company’s stock after purchasing an additional 276 shares during the quarter. Assetmark Inc.’s holdings in Ferrari were worth $776,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Hanson & Doremus Investment Management bought a new stake in shares of Ferrari in the fourth quarter valued at approximately $26,000. Planning Capital Management Corp acquired a new position in Ferrari during the 3rd quarter valued at $30,000. Ashton Thomas Securities LLC bought a new stake in Ferrari in the 3rd quarter valued at $33,000. Hobbs Group Advisors LLC acquired a new stake in Ferrari in the 3rd quarter worth $47,000. Finally, Armstrong Advisory Group Inc. increased its holdings 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 purchasing an additional 50 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a research report on Thursday, February 6th. They set a “hold” rating on the stock. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Barclays lowered Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 5th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $507.14.

Ferrari Stock Performance

Shares of NYSE:RACE opened at $442.66 on Wednesday. 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 business’s fifty day moving average price is $452.75 and its two-hundred day moving average price is $456.16. Ferrari has a fifty-two week low of $399.27 and a fifty-two week high of $509.13. The stock has a market capitalization of $107.29 billion, a price-to-earnings ratio of 48.38, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94.

Ferrari Increases Dividend

The company also recently announced an annual dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Wednesday, April 23rd will be issued a $3.1265 dividend. This is a positive change from Ferrari’s previous annual dividend of $2.44. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a dividend yield of 0.5%. Ferrari’s dividend payout ratio is presently 5.63%.

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.