Mesirow Financial Investment Management Inc. Sells 230 Shares of Ferrari (NYSE:RACE)

Mesirow Financial Investment Management Inc. reduced its holdings in Ferrari (NYSE:RACE) by 19.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 925 shares of the company’s stock after selling 230 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Ferrari were worth $393,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Elite Wealth Management Inc. lifted its stake in shares of Ferrari by 1.0% in the 3rd quarter. Elite Wealth Management Inc. now owns 2,606 shares of the company’s stock valued at $1,225,000 after purchasing an additional 25 shares during the period. Addison Advisors LLC lifted its stake in shares of Ferrari by 13.6% in the 3rd quarter. Addison Advisors LLC now owns 217 shares of the company’s stock valued at $102,000 after purchasing an additional 26 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Ferrari by 10.0% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 329 shares of the company’s stock valued at $140,000 after purchasing an additional 30 shares during the period. Caprock Group LLC lifted its stake in shares of Ferrari by 1.7% in the 3rd quarter. Caprock Group LLC now owns 1,823 shares of the company’s stock valued at $857,000 after purchasing an additional 31 shares during the period. Finally, EWA LLC lifted its stake in shares of Ferrari by 6.6% in the 3rd quarter. EWA LLC now owns 518 shares of the company’s stock valued at $228,000 after purchasing an additional 32 shares during the period.

Analysts Set New Price Targets

A number of research firms have recently commented on RACE. Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating for the company. StockNews.com cut Ferrari from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Finally, Barclays cut Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $507.14.

Ferrari Stock Up 0.8 %

Shares of NYSE:RACE opened at $450.14 on Friday. The stock has a fifty day simple moving average of $452.18 and a two-hundred day simple moving average of $456.88. The stock has a market capitalization of $109.10 billion, a price-to-earnings ratio of 49.20, a PEG ratio of 4.43 and a beta of 0.94. Ferrari has a 12-month low of $399.27 and a 12-month high of $509.13. 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 Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Wednesday, April 23rd will be issued a $3.1265 dividend. 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 (DPR) 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.