111 Capital Invests $2.04 Million in Ferrari N.V. $RACE

111 Capital bought a new stake in shares of Ferrari N.V. (NYSE:RACE) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,225 shares of the company’s stock, valued at approximately $2,041,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Mather Group LLC. purchased a new position in Ferrari in the third quarter valued at $27,000. Westside Investment Management Inc. boosted its stake in shares of Ferrari by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 56 shares of the company’s stock worth $27,000 after acquiring an additional 28 shares in the last quarter. Root Financial Partners LLC acquired a new stake in shares of Ferrari during the 3rd quarter valued at about $28,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Ferrari in the 2nd quarter valued at about $30,000. Finally, Virtus Advisers LLC acquired a new position in Ferrari in the 2nd quarter worth about $34,000.

Ferrari Trading Up 1.0%

Shares of RACE opened at $379.99 on Monday. Ferrari N.V. has a 52-week low of $328.00 and a 52-week high of $519.10. The stock has a market cap of $88.90 billion, a PE ratio of 37.58, a price-to-earnings-growth ratio of 3.70 and a beta of 0.97. The firm’s fifty day moving average is $360.39 and its two-hundred day moving average is $405.64. The company has a quick ratio of 4.38, a current ratio of 5.70 and a debt-to-equity ratio of 0.74.

Ferrari Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 21st will be issued a $3.615 dividend. This represents a yield of 99.0%. The ex-dividend date is Tuesday, April 21st. This is a positive change from Ferrari’s previous annual dividend of $3.13.

Wall Street Analyst Weigh In

RACE has been the topic of several research analyst reports. Oddo Bhf lowered Ferrari to a “neutral” rating in a report on Wednesday, December 10th. Jefferies Financial Group reiterated a “hold” rating on shares of Ferrari in a research report on Wednesday, February 11th. UBS Group dropped their price target on shares of Ferrari from $563.00 to $555.00 and set a “buy” rating on the stock in a research note on Friday, January 9th. BNP Paribas Exane upgraded shares of Ferrari to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, Barclays set a $420.00 price objective on shares of Ferrari and gave the company an “overweight” rating in a report on Tuesday, December 9th. Three 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 MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $476.52.

Ferrari 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.