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

Atria Investments Inc reduced its stake in shares of Ferrari (NYSE:RACE) by 14.6% in the 4th quarter, HoldingsChannel.com reports. 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 hedge funds have also recently bought and sold shares of the stock. QRG Capital Management Inc. acquired a new stake in shares of Ferrari in the third quarter valued at $267,000. Portside Wealth Group LLC boosted its holdings in Ferrari by 14.0% in the third quarter. Portside Wealth Group LLC now owns 602 shares of the company’s stock valued at $283,000 after acquiring an additional 74 shares during the last quarter. Verdence Capital Advisors LLC boosted its holdings in Ferrari by 11.8% in the third quarter. Verdence Capital Advisors LLC now owns 2,277 shares of the company’s stock valued at $1,070,000 after acquiring an additional 240 shares during the last quarter. Assetmark Inc. boosted its holdings in Ferrari by 11.1% in the third quarter. Assetmark Inc. now owns 1,550 shares of the company’s stock valued at $729,000 after acquiring an additional 155 shares during the last quarter. Finally, Lindbrook Capital LLC boosted its holdings in Ferrari by 15.8% in the third quarter. Lindbrook Capital LLC now owns 573 shares of the company’s stock valued at $269,000 after acquiring an additional 78 shares during the last quarter.

Ferrari Price Performance

Shares of RACE opened at $450.14 on Monday. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. Ferrari has a 1 year low of $399.27 and a 1 year high of $509.13. The stock has a market cap of $109.10 billion, a P/E ratio of 49.20, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94. The stock’s 50-day moving average price is $452.18 and its two-hundred day moving average price is $456.73.

Ferrari Increases Dividend

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

Analyst Upgrades and Downgrades

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

Ferrari Company 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.