Mesirow Financial Investment Management Inc. Lowers Position in Ferrari (NYSE:RACE)

Mesirow Financial Investment Management Inc. lowered its holdings in Ferrari (NYSE:RACE) by 19.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 925 shares of the company’s stock after selling 230 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Ferrari were worth $393,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of RACE. Hanson & Doremus Investment Management bought a new position in shares of Ferrari during the 4th quarter valued at about $26,000. Planning Capital Management Corp bought a new position in shares of Ferrari during the 3rd quarter valued at about $30,000. Ashton Thomas Securities LLC bought a new position in shares of Ferrari during the 3rd quarter valued at about $33,000. Armstrong Advisory Group Inc. increased its position in shares of Ferrari by 100.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock valued at $42,000 after purchasing an additional 50 shares during the last quarter. Finally, Kestra Investment Management LLC bought a new position in shares of Ferrari during the 4th quarter valued at about $45,000.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RACE. Barclays lowered Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 5th. StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Ferrari in a research report on Thursday, February 6th. They set a “hold” rating on the stock. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $507.14.

Ferrari Price Performance

RACE opened at $450.14 on Friday. The stock’s 50 day simple moving average is $452.18 and its 200 day simple moving average is $456.88. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. Ferrari has a 1 year low of $399.27 and a 1 year high of $509.13. The firm has a market cap 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 Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Wednesday, April 23rd will be given a $3.1265 dividend. This is a positive change from Ferrari’s previous annual dividend of $2.44. This represents a dividend yield of 0.5%. The ex-dividend date is Wednesday, April 23rd. Ferrari’s dividend payout ratio (DPR) is currently 5.63%.

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.