Morse Asset Management Inc Sells 2,581 Shares of Ferrari N.V. $RACE

Morse Asset Management Inc lessened its stake in shares of Ferrari N.V. (NYSE:RACE) by 41.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,597 shares of the company’s stock after selling 2,581 shares during the period. Morse Asset Management Inc’s holdings in Ferrari were worth $1,330,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mather Group LLC. bought a new stake in Ferrari during the third quarter worth about $27,000. Westside Investment Management Inc. raised its holdings in Ferrari by 100.0% during the third 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 bought a new stake in Ferrari during the third quarter worth about $28,000. Community Bank N.A. bought a new stake in Ferrari during the third quarter worth about $33,000. Finally, CX Institutional raised its holdings in Ferrari by 227.3% during the third quarter. CX Institutional now owns 72 shares of the company’s stock worth $35,000 after acquiring an additional 50 shares in the last quarter.

Ferrari Price Performance

Shares of NYSE RACE opened at $338.74 on Tuesday. The firm has a market cap of $79.25 billion, a P/E ratio of 33.50, a price-to-earnings-growth ratio of 3.23 and a beta of 0.95. The company has a current ratio of 5.70, a quick ratio of 4.38 and a debt-to-equity ratio of 0.74. Ferrari N.V. has a 1-year low of $312.51 and a 1-year high of $519.10. The business’s 50 day moving average is $347.32 and its 200-day moving average is $366.19.

Ferrari Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 21st will be paid a dividend of $3.615 per share. This is a boost from Ferrari’s previous annual dividend of $3.13. The ex-dividend date is Tuesday, April 21st. This represents a yield of 119.0%. Ferrari’s dividend payout ratio is 5.09%.

Analyst Upgrades and Downgrades

RACE has been the topic of several analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Ferrari in a report on Friday, April 10th. Jefferies Financial Group upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, March 31st. JPMorgan Chase & Co. upped their price objective on Ferrari from $407.00 to $447.00 and gave the company an “overweight” rating in a research note on Tuesday, March 3rd. Zacks Research upgraded Ferrari from a “strong sell” rating to a “hold” rating in a research note on Monday, February 2nd. Finally, Citigroup upgraded Ferrari from a “sell” rating to a “neutral” rating in a research note on Thursday, February 12th. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $469.06.

About Ferrari

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.