5,000 Shares in Ferrari (NYSE:RACE) Bought by Freemont Management S.A.

Freemont Management S.A. purchased a new position in shares of Ferrari (NYSE:RACE) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,000 shares of the company’s stock, valued at approximately $1,692,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC boosted its holdings in Ferrari by 1.0% during the fourth quarter. Sequoia Financial Advisors LLC now owns 4,247 shares of the company’s stock worth $1,437,000 after buying an additional 40 shares in the last quarter. Vanguard Group Inc. raised its position in Ferrari by 1.4% during the third quarter. Vanguard Group Inc. now owns 4,441,408 shares of the company’s stock worth $1,312,614,000 after acquiring an additional 61,132 shares during the period. B. Riley Wealth Advisors Inc. raised its position in Ferrari by 12.0% during the third quarter. B. Riley Wealth Advisors Inc. now owns 2,140 shares of the company’s stock worth $632,000 after acquiring an additional 230 shares during the period. Alphinity Investment Management Pty Ltd acquired a new position in Ferrari during the third quarter worth $157,620,000. Finally, Kestra Advisory Services LLC raised its position in Ferrari by 15.6% during the third quarter. Kestra Advisory Services LLC now owns 3,128 shares of the company’s stock worth $924,000 after acquiring an additional 422 shares during the period.

Ferrari Price Performance

Ferrari stock traded up $2.63 during midday trading on Friday, hitting $416.16. 169,697 shares of the stock were exchanged, compared to its average volume of 262,264. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.18 and a quick ratio of 3.25. The stock’s 50-day simple moving average is $420.16 and its 200 day simple moving average is $386.72. Ferrari has a fifty-two week low of $283.20 and a fifty-two week high of $442.80.

Ferrari Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on RACE shares. Jefferies Financial Group started coverage on shares of Ferrari in a research report on Friday, May 10th. They set a “hold” rating and a $403.00 price objective for the company. Barclays cut shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Thursday, April 4th. Sanford C. Bernstein upped their price objective on shares of Ferrari from $448.00 to $512.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. UBS Group upped their price objective on shares of Ferrari from $413.00 to $448.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Finally, StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Tuesday, May 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Ferrari presently has an average rating of “Hold” and an average target price of $456.67.

Ferrari 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.