Sage Rhino Capital LLC Acquires Shares of 650 Ferrari (NYSE:RACE)

Sage Rhino Capital LLC acquired a new stake in shares of Ferrari (NYSE:RACE) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 650 shares of the company’s stock, valued at approximately $220,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Blue Trust Inc. grew its holdings in shares of Ferrari by 37.0% in the fourth quarter. Blue Trust Inc. now owns 111 shares of the company’s stock valued at $38,000 after purchasing an additional 30 shares in the last quarter. Merlin Capital Inc lifted its position in Ferrari by 1.3% in the third quarter. Merlin Capital Inc now owns 2,496 shares of the company’s stock worth $738,000 after buying an additional 32 shares during the last quarter. Allworth Financial LP lifted its position in Ferrari by 17.0% in the fourth quarter. Allworth Financial LP now owns 255 shares of the company’s stock worth $86,000 after buying an additional 37 shares during the last quarter. Lindbrook Capital LLC lifted its position in Ferrari by 8.1% in the fourth quarter. Lindbrook Capital LLC now owns 508 shares of the company’s stock worth $172,000 after buying an additional 38 shares during the last quarter. Finally, Simplicity Solutions LLC lifted its position in Ferrari by 2.8% in the third quarter. Simplicity Solutions LLC now owns 1,411 shares of the company’s stock worth $417,000 after buying an additional 39 shares during the last quarter.

Ferrari Trading Down 0.2 %

Shares of RACE traded down $0.84 during midday trading on Wednesday, reaching $414.86. The company had a trading volume of 7,684 shares, compared to its average volume of 300,503. Ferrari has a 1-year low of $273.39 and a 1-year high of $442.80. The firm has a 50 day simple moving average of $421.43 and a 200-day simple moving average of $373.48. The company has a quick ratio of 2.98, a current ratio of 3.91 and a debt-to-equity ratio of 0.81.

Ferrari (NYSE:RACE) last issued its earnings results on Thursday, February 1st. The company reported $1.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.15. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.61 billion. Ferrari had a return on equity of 43.84% and a net margin of 21.06%. Equities research analysts predict that Ferrari will post 8.31 earnings per share for the current fiscal year.

Ferrari Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RACE. StockNews.com downgraded Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. Sanford C. Bernstein lifted their target price on Ferrari from $448.00 to $512.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. Barclays downgraded Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Thursday, April 4th. Citigroup downgraded Ferrari from a “neutral” rating to a “sell” rating in a research report on Monday, March 4th. Finally, Evercore ISI lifted their target price on Ferrari from $430.00 to $465.00 and gave the stock an “outperform” rating in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $413.86.

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.