U S Global Investors Inc. Reduces Stake in Ferrari N.V. $RACE

U S Global Investors Inc. trimmed its position in shares of Ferrari N.V. (NYSE:RACE) by 28.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,815 shares of the company’s stock after selling 2,350 shares during the quarter. U S Global Investors Inc.’s holdings in Ferrari were worth $2,149,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of RACE. Mather Group LLC. acquired a new position in shares of Ferrari during the 3rd quarter worth $27,000. Westside Investment Management Inc. increased its holdings in Ferrari by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 56 shares of the company’s stock valued at $27,000 after acquiring an additional 28 shares in the last quarter. Root Financial Partners LLC acquired a new position in Ferrari during the third quarter worth about $28,000. Community Bank N.A. purchased a new stake in shares of Ferrari in the third quarter valued at about $33,000. Finally, CX Institutional grew its position in shares of Ferrari by 227.3% in the third quarter. CX Institutional now owns 72 shares of the company’s stock valued at $35,000 after purchasing an additional 50 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Morgan Stanley set a $420.00 price objective on Ferrari in a research report on Monday, February 16th. Zacks Research raised Ferrari from a “strong sell” rating to a “hold” rating in a research report on Monday, February 2nd. Jefferies Financial Group raised Ferrari from a “hold” rating to a “buy” rating in a report on Tuesday, March 31st. Citigroup raised Ferrari from a “sell” rating to a “neutral” rating in a research note on Thursday, February 12th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Ferrari in a research note on Friday, April 10th. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $469.06.

Ferrari Trading Down 1.1%

Shares of Ferrari stock opened at $354.46 on Friday. Ferrari N.V. has a fifty-two week low of $312.51 and a fifty-two week high of $519.10. The business’s fifty day moving average is $350.08 and its two-hundred day moving average is $370.12. The company has a quick ratio of 4.38, a current ratio of 5.70 and a debt-to-equity ratio of 0.74. The firm has a market cap of $82.93 billion, a PE ratio of 35.06, a P/E/G ratio of 3.39 and a beta of 1.00.

Ferrari Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 21st will be given a dividend of $3.615 per share. This represents a yield of 119.0%. This is a positive change from Ferrari’s previous annual dividend of $3.13. The ex-dividend date of this dividend is Tuesday, April 21st.

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.