LVW Advisors LLC Raises Stock Holdings in Ferrari (NYSE:RACE)

LVW Advisors LLC boosted its holdings in shares of Ferrari (NYSE:RACE) by 24.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,015 shares of the company’s stock after purchasing an additional 590 shares during the period. LVW Advisors LLC’s holdings in Ferrari were worth $1,314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Jamison Private Wealth Management Inc. acquired a new stake in shares of Ferrari in the fourth quarter valued at about $27,000. Register Financial Advisors LLC acquired a new position in Ferrari in the 1st quarter valued at $33,000. Householder Group Estate & Retirement Specialist LLC lifted its holdings in Ferrari by 320.0% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 105 shares of the company’s stock valued at $35,000 after purchasing an additional 80 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Ferrari by 37.0% during the fourth quarter. Blue Trust Inc. now owns 111 shares of the company’s stock worth $38,000 after buying an additional 30 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of Ferrari in the fourth quarter valued at about $43,000.

Ferrari Price Performance

Ferrari stock opened at $408.37 on Monday. The stock has a 50-day simple moving average of $415.26 and a 200-day simple moving average of $396.31. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.18 and a quick ratio of 3.25. Ferrari has a fifty-two week low of $285.02 and a fifty-two week high of $442.80.

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

Ferrari Announces Dividend

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

Analysts Set New Price Targets

RACE has been the subject of a number of recent analyst reports. Citigroup downgraded shares of Ferrari from a “neutral” rating to a “sell” rating in a report on Monday, March 4th. Bank of America increased their price target on Ferrari from $458.00 to $512.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Barclays downgraded Ferrari from an “overweight” rating to an “equal weight” rating in a report on Thursday, April 4th. Sanford C. Bernstein boosted their price objective on Ferrari from $448.00 to $512.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. Finally, Evercore ISI boosted their price target on shares of Ferrari from $430.00 to $465.00 and gave the stock an “outperform” rating in a report on Monday, April 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $461.67.

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.