Enhancing Capital LLC Acquires New Position in Ferrari (NYSE:RACE)

Enhancing Capital LLC bought a new position in shares of Ferrari (NYSE:RACE) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,765 shares of the company’s stock, valued at approximately $750,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Hanson & Doremus Investment Management acquired a new stake in shares of Ferrari in the 4th quarter valued at approximately $26,000. Hobbs Group Advisors LLC bought a new stake in shares of Ferrari in the 3rd quarter valued at $47,000. Armstrong Advisory Group Inc. raised its stake in Ferrari by 100.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock worth $42,000 after buying an additional 50 shares during the period. Kestra Investment Management LLC acquired a new stake in Ferrari during the 4th quarter worth $45,000. Finally, Plato Investment Management Ltd bought a new position in Ferrari during the fourth quarter worth about $53,000.

Ferrari Price Performance

NYSE RACE opened at $454.62 on Tuesday. The firm’s 50 day moving average is $454.94 and its 200-day moving average is $455.09. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $110.19 billion, a PE ratio of 49.68, a price-to-earnings-growth 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.

Ferrari Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Wednesday, April 23rd will be given a dividend of $3.1265 per share. The ex-dividend date is Wednesday, April 23rd. This is a boost from Ferrari’s previous annual dividend of $2.44. This represents a yield of 0.5%. Ferrari’s payout ratio is 5.63%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Barclays downgraded Ferrari from an “overweight” rating to an “equal weight” rating in a report on Wednesday, February 5th. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferrari in a report on Thursday, February 6th. They issued a “hold” rating for the company. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Ferrari currently has an average rating of “Moderate Buy” and an average price target of $507.14.

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.