Marest Capital LLC Makes New $233,000 Investment in Ferrari (NYSE:RACE)

Marest Capital LLC acquired a new position in Ferrari (NYSE:RACE) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 535 shares of the company’s stock, valued at approximately $233,000. Ferrari comprises approximately 0.2% of Marest Capital LLC’s portfolio, making the stock its 23rd biggest holding.

Other large investors have also added to or reduced their stakes in the company. Jamison Private Wealth Management Inc. purchased a new position in shares of Ferrari in the 4th quarter worth approximately $27,000. Register Financial Advisors LLC purchased a new position in Ferrari during the 1st quarter valued at $33,000. Householder Group Estate & Retirement Specialist LLC boosted its holdings in Ferrari by 320.0% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 105 shares of the company’s stock valued at $35,000 after acquiring an additional 80 shares during the period. Blue Trust Inc. boosted its holdings in Ferrari by 37.0% during the 4th quarter. Blue Trust Inc. now owns 111 shares of the company’s stock valued at $38,000 after acquiring an additional 30 shares during the period. Finally, Headlands Technologies LLC purchased a new position in Ferrari during the 4th quarter valued at $43,000.

Ferrari Stock Up 2.0 %

NYSE:RACE traded up $8.34 during mid-day trading on Wednesday, hitting $422.72. 198,193 shares of the company’s stock traded hands, compared to its average volume of 281,120. The company has a fifty day moving average of $415.05 and a 200 day moving average of $397.06. Ferrari has a twelve month low of $285.02 and a twelve month high of $442.80. The company has a current ratio of 4.18, a quick ratio of 3.25 and a debt-to-equity ratio of 0.80.

Ferrari (NYSE:RACE) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.08. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.73 billion. Ferrari had a return on equity of 43.94% and a net margin of 21.42%. On average, research analysts forecast that Ferrari will post 8.2 EPS for the current year.

Ferrari Dividend Announcement

The company also recently disclosed an annual dividend, which was paid on Friday, May 3rd. Stockholders of record on Tuesday, April 23rd were issued a $2.443 dividend. This represents a dividend yield of 0.62%. The ex-dividend date was Monday, April 22nd.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RACE. StockNews.com cut Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, May 29th. Bank of America upped their target price on Ferrari from $458.00 to $512.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Morgan Stanley reiterated an “overweight” rating and issued a $400.00 target price on shares of Ferrari in a report on Monday, April 22nd. Evercore ISI upped their target price on Ferrari from $430.00 to $465.00 and gave the stock an “outperform” rating in a report on Monday, April 22nd. Finally, Barclays cut Ferrari from an “overweight” rating to an “equal weight” rating in a report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $461.67.

About Ferrari

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.