2,127 Shares in Ferrari N.V. $RACE Purchased by Greenberg Financial Group

Greenberg Financial Group purchased a new position in shares of Ferrari N.V. (NYSE:RACE) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,127 shares of the company’s stock, valued at approximately $786,000.

Other hedge funds have also recently modified their holdings of the company. Mather Group LLC. acquired a new position in shares of Ferrari during the 3rd quarter worth about $27,000. Westside Investment Management Inc. raised its position 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 purchasing an additional 28 shares during the last quarter. Root Financial Partners LLC acquired a new position in shares of Ferrari during the 3rd quarter worth about $28,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Ferrari during the 2nd quarter worth about $30,000. Finally, Community Bank N.A. acquired a new position in shares of Ferrari during the 3rd quarter worth about $33,000.

Ferrari Stock Up 5.1%

Shares of NYSE RACE opened at $351.70 on Thursday. Ferrari N.V. has a 12-month low of $312.51 and a 12-month high of $519.10. The stock has a market cap of $82.28 billion, a PE ratio of 34.78, a P/E/G ratio of 3.21 and a beta of 1.00. The company has a current ratio of 5.70, a quick ratio of 4.38 and a debt-to-equity ratio of 0.74. The company has a 50-day moving average of $347.50 and a 200 day moving average of $379.02.

Ferrari Increases Dividend

The company also recently declared an annual dividend, which will be paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 21st will be paid a $3.615 dividend. 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. This represents a dividend yield of 99.0%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of Ferrari from $407.00 to $447.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 3rd. Zacks Research raised shares of Ferrari from a “strong sell” rating to a “hold” rating in a research note on Monday, February 2nd. UBS Group dropped their price objective on shares of Ferrari from $555.00 to $483.00 and set a “buy” rating for the company in a research note on Wednesday, April 1st. Citigroup raised shares of Ferrari from a “sell” rating to a “neutral” rating in a research note on Thursday, February 12th. Finally, HSBC reaffirmed a “hold” rating on shares of Ferrari in a research note on Tuesday, January 13th. Three investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Ferrari has an average rating of “Moderate Buy” and an average price target of $469.06.

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.