Marest Capital LLC Invests $233,000 in Ferrari (NYSE:RACE)

Marest Capital LLC acquired a new position in shares of Ferrari (NYSE:RACE) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 535 shares of the company’s stock, valued at approximately $233,000. Ferrari comprises about 0.2% of Marest Capital LLC’s holdings, making the stock its 23rd largest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. Jamison Private Wealth Management Inc. acquired a new stake in Ferrari in the 4th quarter valued at $27,000. Register Financial Advisors LLC acquired a new stake in Ferrari in the 1st quarter valued at $33,000. Householder Group Estate & Retirement Specialist LLC increased 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. increased its holdings in Ferrari by 37.0% in the 4th quarter. Blue Trust Inc. now owns 111 shares of the company’s stock valued at $38,000 after purchasing an additional 30 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Ferrari in the 4th quarter valued at $43,000.

Analysts Set New Price Targets

Several analysts recently issued reports on RACE shares. Morgan Stanley reiterated an “overweight” rating and issued a $400.00 price target on shares of Ferrari in a report on Monday, April 22nd. Sanford C. Bernstein upped their price objective on shares of Ferrari from $448.00 to $512.00 and gave the company an “outperform” rating in a research report on Thursday, April 18th. StockNews.com cut shares of Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, May 29th. Evercore ISI upped their price objective on shares of Ferrari from $430.00 to $465.00 and gave the company an “outperform” rating in a research report on Monday, April 22nd. Finally, Bank of America upped their price objective on shares of Ferrari from $458.00 to $512.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Ferrari has an average rating of “Hold” and an average target price of $461.67.

Ferrari Price Performance

RACE traded up $8.34 on Wednesday, hitting $422.72. 198,193 shares of the company’s stock were exchanged, compared to its average volume of 281,120. Ferrari has a twelve month low of $285.02 and a twelve month high of $442.80. The stock has a fifty day moving average of $415.05 and a two-hundred day moving average of $397.06. 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 (NYSE:RACE) last released its quarterly earnings data on Tuesday, May 7th. The company reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.08. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.73 billion. Ferrari had a net margin of 21.42% and a return on equity of 43.94%. On average, analysts expect that Ferrari will post 8.2 earnings per share for the current year.

Ferrari Dividend Announcement

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

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.