Virtu Financial LLC Boosts Stock Holdings in Ferrari (NYSE:RACE)

Virtu Financial LLC grew its position in shares of Ferrari (NYSE:RACE) by 592.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,635 shares of the company’s stock after purchasing an additional 3,966 shares during the quarter. Virtu Financial LLC’s holdings in Ferrari were worth $1,969,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Sapient Capital LLC increased its holdings in shares of Ferrari by 1.0% during the 4th quarter. Sapient Capital LLC now owns 67,322 shares of the company’s stock valued at $28,737,000 after purchasing an additional 653 shares in the last quarter. Cerity Partners LLC increased its holdings in Ferrari by 14.0% in the 3rd quarter. Cerity Partners LLC now owns 26,915 shares of the company’s stock worth $12,653,000 after acquiring an additional 3,308 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in Ferrari in the 4th quarter worth $3,371,000. Allworth Financial LP increased its holdings in Ferrari by 35.1% in the 4th quarter. Allworth Financial LP now owns 327 shares of the company’s stock worth $141,000 after acquiring an additional 85 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Ferrari by 2.4% in the 4th quarter. Bank of New York Mellon Corp now owns 1,612,108 shares of the company’s stock worth $684,888,000 after acquiring an additional 38,356 shares in the last quarter.

Analyst Ratings Changes

RACE has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Ferrari in a report on Thursday, February 6th. They issued a “hold” rating for the company. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Finally, Barclays lowered shares of Ferrari from an “overweight” rating to an “equal weight” rating in a report on Wednesday, February 5th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Ferrari presently has a consensus rating of “Moderate Buy” and a consensus target price of $507.14.

Ferrari Price Performance

Ferrari stock opened at $436.10 on Friday. Ferrari has a 52-week low of $399.27 and a 52-week high of $509.13. The firm has a market capitalization of $105.70 billion, a price-to-earnings ratio of 47.66, a PEG ratio of 4.43 and a beta of 0.94. The company has a fifty day simple moving average of $456.03 and a 200-day simple moving average of $454.00. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93.

Ferrari Increases Dividend

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

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.