Atria Investments Inc Has $2.44 Million Position in Ferrari (NYSE:RACE)

Atria Investments Inc reduced its stake in Ferrari (NYSE:RACE) by 14.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 5,751 shares of the company’s stock after selling 987 shares during the quarter. Atria Investments Inc’s holdings in Ferrari were worth $2,443,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Sapient Capital LLC boosted its position in shares of Ferrari by 1.0% in the fourth quarter. Sapient Capital LLC now owns 67,322 shares of the company’s stock valued at $28,737,000 after acquiring an additional 653 shares during the period. Cerity Partners LLC boosted its position in shares of Ferrari by 14.0% in the third quarter. Cerity Partners LLC now owns 26,915 shares of the company’s stock valued at $12,653,000 after acquiring an additional 3,308 shares during the period. Allworth Financial LP boosted its position in shares of Ferrari by 35.1% in the fourth quarter. Allworth Financial LP now owns 327 shares of the company’s stock valued at $141,000 after acquiring an additional 85 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Ferrari by 2.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,612,108 shares of the company’s stock valued at $684,888,000 after acquiring an additional 38,356 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Ferrari by 156.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,400 shares of the company’s stock valued at $2,731,000 after acquiring an additional 3,900 shares during the period.

Ferrari Stock Performance

Shares of NYSE RACE opened at $450.14 on Monday. The business has a fifty day simple moving average of $452.18 and a 200 day simple moving average of $456.73. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. The firm 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 one year low of $399.27 and a one year high of $509.13.

Ferrari Increases Dividend

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

Analyst Ratings Changes

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

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.