SG Americas Securities LLC Acquires 64,365 Shares of Ferrari N.V. $RACE

SG Americas Securities LLC raised its holdings in Ferrari N.V. (NYSE:RACE) by 17,538.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 64,732 shares of the company’s stock after acquiring an additional 64,365 shares during the period. SG Americas Securities LLC’s holdings in Ferrari were worth $23,922,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Mather Group LLC. acquired a new stake in shares of Ferrari during the third quarter worth about $27,000. Westside Investment Management Inc. grew its position in shares of Ferrari by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 56 shares of the company’s stock valued at $27,000 after purchasing an additional 28 shares during the period. Root Financial Partners LLC acquired a new position in shares of Ferrari in the 3rd quarter valued at approximately $28,000. Newbridge Financial Services Group Inc. bought a new stake in Ferrari during the 2nd quarter worth approximately $30,000. Finally, Community Bank N.A. bought a new stake in Ferrari during the 3rd quarter worth approximately $33,000.

Ferrari Trading Up 0.2%

Shares of NYSE:RACE opened at $322.84 on Friday. The company’s 50-day moving average price is $348.00 and its two-hundred day moving average price is $388.56. Ferrari N.V. has a one year low of $312.51 and a one year high of $519.10. The company has a debt-to-equity ratio of 0.74, a current ratio of 5.70 and a quick ratio of 4.38. The stock has a market capitalization of $75.53 billion, a PE ratio of 31.93, a price-to-earnings-growth ratio of 3.15 and a beta of 0.97.

Ferrari Increases Dividend

The business also recently announced an annual dividend, which will be paid on Tuesday, May 5th. Investors of record on Tuesday, April 21st will be issued a dividend of $3.615 per share. The ex-dividend date is Tuesday, April 21st. This is a boost from Ferrari’s previous annual dividend of $3.13. This represents a yield of 99.0%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on RACE. Oddo Bhf lowered shares of Ferrari to a “neutral” rating in a research note on Wednesday, December 10th. Loop Capital set a $481.67 price objective on shares of Ferrari in a research report on Thursday, December 4th. Sanford C. Bernstein restated an “outperform” rating and set a $410.00 price objective on shares of Ferrari in a report on Wednesday, February 11th. JPMorgan Chase & Co. boosted their price objective on shares of Ferrari from $407.00 to $447.00 and gave the company an “overweight” rating in a research report on Tuesday, March 3rd. Finally, Citigroup raised shares of Ferrari from a “sell” rating to a “neutral” rating in a research note on Thursday, February 12th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Ferrari currently has an average rating of “Moderate Buy” and a consensus price target of $475.61.

Ferrari Company Profile

Ferrari N.V. (NYSE: RACE) is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company’s core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.