CenterBook Partners LP Purchases Shares of 676 Ferrari (NYSE:RACE)

CenterBook Partners LP purchased a new position in shares of Ferrari (NYSE:RACE) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 676 shares of the company’s stock, valued at approximately $287,000.

Several other large investors also recently modified their holdings of the stock. Hanson & Doremus Investment Management acquired a new position in shares of Ferrari during the 4th quarter valued at $26,000. Armstrong Advisory Group Inc. increased its stake 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 in the last quarter. Kestra Investment Management LLC acquired a new position in shares of Ferrari during the fourth quarter valued at about $45,000. Plato Investment Management Ltd acquired a new position in shares of Ferrari during the fourth quarter valued at about $53,000. Finally, Newbridge Financial Services Group Inc. grew its stake in shares of Ferrari by 705.9% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 137 shares of the company’s stock valued at $58,000 after buying an additional 120 shares during the period.

Ferrari Price Performance

RACE opened at $428.57 on Friday. Ferrari has a 1 year low of $391.54 and a 1 year high of $509.13. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. The company has a market capitalization of $103.88 billion, a price-to-earnings ratio of 46.84, a P/E/G ratio of 4.43 and a beta of 1.03. The firm’s fifty day moving average price is $452.86 and its two-hundred day moving average price is $448.42.

Ferrari Increases Dividend

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

Analyst Ratings Changes

RACE has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their price target on Ferrari from $525.00 to $460.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, March 28th. UBS Group reduced their price target on shares of Ferrari from $584.00 to $520.00 and set a “buy” rating for the company in a research report on Tuesday, April 1st. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Finally, Kepler Capital Markets upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a report on Friday, March 28th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $486.67.

Ferrari Company Profile

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.