Quantbot Technologies LP Acquires 8,977 Shares of Ferrari (NYSE:RACE)

Quantbot Technologies LP raised its holdings in Ferrari (NYSE:RACE) by 82.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,903 shares of the company’s stock after acquiring an additional 8,977 shares during the period. Quantbot Technologies LP’s holdings in Ferrari were worth $8,456,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of RACE. Hanson & Doremus Investment Management bought a new position in shares of Ferrari in the 4th quarter valued at $26,000. Hobbs Group Advisors LLC acquired a new position in Ferrari in the 3rd quarter worth about $47,000. Armstrong Advisory Group Inc. raised its position in Ferrari by 100.0% in the fourth quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock valued at $42,000 after purchasing an additional 50 shares during the last quarter. Kestra Investment Management LLC bought a new position in Ferrari in the fourth quarter valued at about $45,000. Finally, Plato Investment Management Ltd acquired a new stake in shares of Ferrari during the fourth quarter valued at about $53,000.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on RACE shares. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft began coverage on shares of Ferrari in a research note on Thursday, February 6th. They set a “hold” rating for the company. Finally, Barclays lowered shares of Ferrari from an “overweight” rating to an “equal weight” rating in a report on Wednesday, February 5th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $507.14.

Ferrari Price Performance

Shares of NYSE RACE opened at $436.10 on Friday. Ferrari has a twelve month low of $399.27 and a twelve month high of $509.13. The firm has a fifty day simple moving average of $456.03 and a 200 day simple moving average of $454.22. The company has a market capitalization of $105.70 billion, a PE ratio of 47.66, a P/E/G ratio of 4.43 and a beta of 0.94. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93.

Ferrari Increases Dividend

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

About Ferrari

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.