744 Shares in Ferrari (NYSE:RACE) Acquired by Marcum Wealth LLC

Marcum Wealth LLC bought a new position in shares of Ferrari (NYSE:RACE) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 744 shares of the company’s stock, valued at approximately $324,000.

A number of other hedge funds have also recently bought and sold shares of RACE. Blue Trust Inc. raised its stake in Ferrari by 37.0% during the fourth quarter. Blue Trust Inc. now owns 111 shares of the company’s stock worth $38,000 after purchasing an additional 30 shares during the period. Merlin Capital Inc raised its stake in Ferrari by 1.3% during the third quarter. Merlin Capital Inc now owns 2,496 shares of the company’s stock worth $738,000 after purchasing an additional 32 shares during the period. Kolinsky Wealth Management LLC raised its stake in Ferrari by 2.2% during the fourth quarter. Kolinsky Wealth Management LLC now owns 1,704 shares of the company’s stock worth $577,000 after purchasing an additional 36 shares during the period. Allworth Financial LP raised its stake in Ferrari by 17.0% during the fourth quarter. Allworth Financial LP now owns 255 shares of the company’s stock worth $86,000 after purchasing an additional 37 shares during the period. Finally, Lindbrook Capital LLC raised its stake in Ferrari by 8.1% during the fourth quarter. Lindbrook Capital LLC now owns 508 shares of the company’s stock worth $172,000 after purchasing an additional 38 shares during the period.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Ferrari in a research note on Friday, May 10th. They issued a “hold” rating and a $403.00 target price on the stock. Bank of America raised their target price on shares of Ferrari from $458.00 to $512.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Evercore ISI raised their target price on shares of Ferrari from $430.00 to $465.00 and gave the company an “outperform” rating in a research note on Monday, April 22nd. Barclays downgraded shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Thursday, April 4th. Finally, Sanford C. Bernstein raised their target price on shares of Ferrari from $448.00 to $512.00 and gave the company an “outperform” rating in a research note on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Ferrari currently has a consensus rating of “Hold” and a consensus price target of $456.67.

Ferrari Trading Down 1.3 %

Ferrari stock opened at $414.65 on Friday. Ferrari has a 12-month low of $285.02 and a 12-month high of $442.80. The company has a quick ratio of 3.25, a current ratio of 4.18 and a debt-to-equity ratio of 0.80. The firm’s fifty day moving average price is $414.94 and its 200 day moving average price is $394.44.

Ferrari (NYSE:RACE) last released its quarterly earnings results on Tuesday, May 7th. The company reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.08. Ferrari had a net margin of 21.42% and a return on equity of 43.94%. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.73 billion. Analysts anticipate that Ferrari will post 8.2 earnings per share for the current fiscal year.

Ferrari Announces Dividend

The business also recently disclosed an annual dividend, which was paid on Friday, May 3rd. Shareholders of record on Tuesday, April 23rd were issued a dividend of $2.443 per share. This represents a yield of 0.62%. The ex-dividend date of this dividend was Monday, April 22nd. Ferrari’s dividend payout ratio is currently 33.46%.

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.