Jump Financial LLC Has $4.39 Million Position in Ferrari (NYSE:RACE)

Jump Financial LLC cut its stake in Ferrari (NYSE:RACE) by 48.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,329 shares of the company’s stock after selling 9,671 shares during the period. Jump Financial LLC’s holdings in Ferrari were worth $4,388,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of RACE. Hanson & Doremus Investment Management bought a new position in Ferrari in the fourth quarter valued at approximately $26,000. Armstrong Advisory Group Inc. increased its stake in shares of Ferrari by 100.0% in the 4th quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock valued at $42,000 after purchasing an additional 50 shares during the last quarter. Kestra Investment Management LLC acquired a new position in shares of Ferrari during the 4th quarter worth $45,000. Plato Investment Management Ltd bought a new stake in shares of Ferrari during the 4th quarter worth $53,000. Finally, Newbridge Financial Services Group Inc. boosted its stake in Ferrari by 705.9% in the fourth 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 in the last quarter.

Ferrari Stock Down 0.1 %

Shares of RACE opened at $433.43 on Thursday. The company has a market capitalization of $105.05 billion, a PE ratio of 47.37, a PEG ratio of 4.43 and a beta of 1.03. The stock’s 50-day moving average price is $451.36 and its two-hundred day moving average price is $447.72. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. Ferrari has a 12 month low of $391.54 and a 12 month high of $509.13.

Ferrari Increases Dividend

The business 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. The ex-dividend date 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 dividend payout ratio is presently 5.63%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on RACE shares. UBS Group dropped their target price on shares of Ferrari from $584.00 to $520.00 and set a “buy” rating for the company in a report on Tuesday, April 1st. Barclays raised shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, March 28th. Kepler Capital Markets raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Friday, March 28th. Deutsche Bank Aktiengesellschaft initiated coverage on Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating for the company. Finally, StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $486.67.

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.