Linden Thomas Advisory Services LLC Invests $222,000 in Ferrari (NYSE:RACE)

Linden Thomas Advisory Services LLC purchased a new position in Ferrari (NYSE:RACE) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 656 shares of the company’s stock, valued at approximately $222,000.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Ferrari by 1.4% in the third quarter. Vanguard Group Inc. now owns 4,441,408 shares of the company’s stock worth $1,312,614,000 after buying an additional 61,132 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its position in Ferrari by 12.0% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 2,140 shares of the company’s stock valued at $632,000 after acquiring an additional 230 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in Ferrari by 1.0% during the 4th quarter. Sequoia Financial Advisors LLC now owns 4,247 shares of the company’s stock valued at $1,437,000 after purchasing an additional 40 shares during the last quarter. Alphinity Investment Management Pty Ltd bought a new stake in shares of Ferrari in the 3rd quarter worth $157,620,000. Finally, Syntal Capital Partners LLC bought a new position in shares of Ferrari during the third quarter valued at $511,000.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Morgan Stanley reiterated an “overweight” rating and issued a $400.00 price objective on shares of Ferrari in a report on Monday, April 22nd. Barclays cut shares of Ferrari from an “overweight” rating to an “equal weight” rating in a report on Thursday, April 4th. Evercore ISI raised their target price on shares of Ferrari from $430.00 to $465.00 and gave the stock an “outperform” rating in a report on Monday, April 22nd. UBS Group lifted their target price 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 cut Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $413.86.

Ferrari Stock Performance

Shares of Ferrari stock opened at $422.46 on Friday. The company’s fifty day simple moving average is $420.26 and its 200-day simple moving average is $371.06. Ferrari has a 1-year low of $273.39 and a 1-year high of $442.80. The company has a current ratio of 3.91, a quick ratio of 2.98 and a debt-to-equity ratio of 0.81.

Ferrari (NYSE:RACE) last announced its quarterly earnings results on Thursday, February 1st. The company reported $1.74 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.15. Ferrari had a return on equity of 43.84% and a net margin of 21.06%. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.61 billion. On average, equities analysts anticipate that Ferrari will post 8.31 earnings per share for the current year.

Ferrari Announces Dividend

The firm also recently declared an annual dividend, which will be paid on Friday, May 3rd. Investors of record on Tuesday, April 23rd will be given a $2.443 dividend. This represents a yield of 0.62%. The ex-dividend date is Monday, April 22nd.

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.