Waratah Capital Advisors Ltd. Acquires New Stake in Ferrari N.V. $RACE

Waratah Capital Advisors Ltd. acquired a new position in shares of Ferrari N.V. (NYSE:RACE) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 3,909 shares of the company’s stock, valued at approximately $1,897,000.

Several other hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC increased its stake in shares of Ferrari by 78.9% during the first quarter. AQR Capital Management LLC now owns 3,568 shares of the company’s stock worth $1,527,000 after acquiring an additional 1,574 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Ferrari by 31.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 194 shares of the company’s stock valued at $82,000 after purchasing an additional 46 shares in the last quarter. Woodline Partners LP acquired a new position in Ferrari during the 1st quarter worth approximately $1,519,000. Sivia Capital Partners LLC raised its stake in shares of Ferrari by 67.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 913 shares of the company’s stock worth $448,000 after buying an additional 368 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC raised its stake in shares of Ferrari by 10.0% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 1,229 shares of the company’s stock worth $603,000 after buying an additional 112 shares in the last quarter.

Analyst Upgrades and Downgrades

RACE has been the topic of a number of analyst reports. Oddo Bhf downgraded Ferrari to a “neutral” rating in a research note on Wednesday, December 10th. Barclays set a $420.00 target price on shares of Ferrari and gave the stock an “overweight” rating in a research report on Tuesday, December 9th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ferrari in a research note on Wednesday, February 11th. Jefferies Financial Group reiterated a “hold” rating on shares of Ferrari in a research note on Wednesday, February 11th. Finally, HSBC reissued a “hold” rating on shares of Ferrari in a report on Tuesday, January 13th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $476.52.

Ferrari Stock Performance

NYSE:RACE opened at $374.00 on Wednesday. The company has a current ratio of 5.70, a quick ratio of 4.38 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $90.65 billion, a P/E ratio of 36.99, a price-to-earnings-growth ratio of 3.49 and a beta of 0.99. The firm has a 50-day moving average price of $360.12 and a two-hundred day moving average price of $407.11. Ferrari N.V. has a twelve month low of $328.00 and a twelve month high of $519.10.

Ferrari Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Tuesday, May 5th. Investors of record on Tuesday, April 21st will be paid a dividend of $3.615 per share. The ex-dividend date of this dividend is Tuesday, April 21st. This is an increase from Ferrari’s previous annual dividend of $3.13. This represents a dividend yield of 99.0%.

About Ferrari

Ferrari N.V. (NYSE: RACE) is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company’s core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.