Virtu Financial LLC Boosts Stock Holdings in Ferrari (NYSE:RACE)

Virtu Financial LLC raised its holdings in shares of Ferrari (NYSE:RACE) by 592.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,635 shares of the company’s stock after purchasing an additional 3,966 shares during the period. Virtu Financial LLC’s holdings in Ferrari were worth $1,969,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in RACE. Bank of Italy grew its position in shares of Ferrari by 2.8% in the 4th quarter. Bank of Italy now owns 2,339,620 shares of the company’s stock worth $1,002,392,000 after buying an additional 63,675 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Ferrari by 2.4% in the 4th quarter. Bank of New York Mellon Corp now owns 1,612,108 shares of the company’s stock worth $684,888,000 after buying an additional 38,356 shares during the last quarter. William Blair Investment Management LLC grew its position in shares of Ferrari by 6.4% in the 4th quarter. William Blair Investment Management LLC now owns 594,657 shares of the company’s stock worth $252,634,000 after buying an additional 35,525 shares during the last quarter. Banco Santander S.A. grew its position in shares of Ferrari by 4.2% in the 4th quarter. Banco Santander S.A. now owns 414,720 shares of the company’s stock worth $176,190,000 after buying an additional 16,663 shares during the last quarter. Finally, Barclays PLC grew its position in shares of Ferrari by 6.1% in the 3rd quarter. Barclays PLC now owns 286,564 shares of the company’s stock worth $134,719,000 after buying an additional 16,428 shares during the last quarter.

Ferrari Stock Performance

Shares of NYSE RACE opened at $436.10 on Friday. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. Ferrari has a 12 month low of $399.27 and a 12 month high of $509.13. The company has a 50 day simple moving average of $456.03 and a two-hundred day simple moving average of $454.00. The stock has a market cap of $105.70 billion, a price-to-earnings ratio of 47.66, a PEG ratio of 4.43 and a beta of 0.94.

Ferrari Increases Dividend

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

Analyst Upgrades and Downgrades

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

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.