Ferrari (NYSE:RACE) Short Interest Up 21.6% in February

Ferrari (NYSE:RACE) was the target of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 1,520,000 shares, an increase of 21.6% from the February 13th total of 1,250,000 shares. Approximately 1.2% of the company’s shares are short sold. Based on an average trading volume of 354,800 shares, the short-interest ratio is currently 4.3 days.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Barclays cut Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating for the company. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $507.14.

Ferrari Stock Down 1.8 %

NYSE RACE traded down $8.01 on Tuesday, hitting $446.19. 318,073 shares of the stock were exchanged, compared to its average volume of 285,262. Ferrari has a fifty-two week low of $399.27 and a fifty-two week high of $509.13. The company has a 50-day moving average price of $455.30 and a 200-day moving average price of $454.73. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. The company has a market cap of $108.15 billion, a PE ratio of 48.76, a PEG ratio of 4.43 and a beta of 0.94.

Ferrari Increases Dividend

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

Institutional Trading of Ferrari

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Ferrari by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 4,693,201 shares of the company’s stock valued at $2,002,581,000 after acquiring an additional 45,754 shares during the last quarter. Jennison Associates LLC increased its stake in Ferrari by 910.1% in the third quarter. Jennison Associates LLC now owns 2,926,616 shares of the company’s stock valued at $1,368,622,000 after purchasing an additional 2,636,869 shares during the last quarter. Bank of Italy raised its holdings in Ferrari by 2.8% during the fourth quarter. Bank of Italy now owns 2,339,620 shares of the company’s stock worth $1,002,392,000 after purchasing an additional 63,675 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Ferrari by 49.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,796,264 shares of the company’s stock worth $763,125,000 after buying an additional 594,547 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Ferrari during the 4th quarter worth approximately $697,226,000.

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.