Financial Gravity Wealth Inc. bought a new position in shares of Ferrari NV (NYSE:RACE) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,332 shares of the company’s stock, valued at approximately $180,000.

Several other institutional investors have also recently bought and sold shares of the business. Wedbush Securities Inc. lifted its position in shares of Ferrari by 12.7% during the 1st quarter. Wedbush Securities Inc. now owns 2,663 shares of the company’s stock worth $356,000 after buying an additional 300 shares in the last quarter. Carroll Financial Associates Inc. lifted its position in shares of Ferrari by 1,521.7% during the 1st quarter. Carroll Financial Associates Inc. now owns 1,946 shares of the company’s stock worth $260,000 after buying an additional 1,826 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of Ferrari during the 1st quarter worth approximately $227,000. Baskin Financial Services Inc. raised its holdings in shares of Ferrari by 6.4% in the 1st quarter. Baskin Financial Services Inc. now owns 90,674 shares of the company’s stock worth $12,132,000 after purchasing an additional 5,491 shares during the period. Finally, Quantitative Systematic Strategies LLC bought a new stake in shares of Ferrari in the 1st quarter worth approximately $697,000. 34.96% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:RACE opened at $139.91 on Friday. The company has a current ratio of 3.75, a quick ratio of 3.15 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $26.44 billion, a P/E ratio of 34.98, a P/E/G ratio of 1.87 and a beta of 1.57. Ferrari NV has a 12 month low of $93.85 and a 12 month high of $149.85.

Ferrari (NYSE:RACE) last posted its quarterly earnings results on Thursday, January 31st. The company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.26. The company had revenue of $964.27 million for the quarter, compared to analysts’ expectations of $967.04 million. Ferrari had a net margin of 22.91% and a return on equity of 58.04%. As a group, sell-side analysts expect that Ferrari NV will post 4.05 EPS for the current year.

The business also recently declared an annual dividend, which will be paid on Thursday, May 2nd. Investors of record on Wednesday, April 24th will be issued a $1.1677 dividend. This represents a dividend yield of 0.91%. The ex-dividend date of this dividend is Tuesday, April 23rd. This is a boost from Ferrari’s previous annual dividend of $0.88.

A number of equities research analysts recently commented on the stock. Credit Suisse Group lowered their price target on shares of Ferrari from $160.00 to $140.00 and set an “outperform” rating on the stock in a report on Monday, January 28th. Sanford C. Bernstein raised shares of Ferrari from an “underperform” rating to a “market perform” rating and set a $112.29 price target on the stock in a report on Tuesday, January 15th. Zacks Investment Research cut shares of Ferrari from a “hold” rating to a “sell” rating in a report on Tuesday, January 15th. Finally, ValuEngine raised shares of Ferrari from a “hold” rating to a “buy” rating in a report on Monday, April 1st. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $133.66.

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About Ferrari

Ferrari N.V., through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hypercars; Fuori series, one-off, and track cars; and Icona cars. It also provides non-registered racing cars; and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.

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Institutional Ownership by Quarter for Ferrari (NYSE:RACE)

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