Janney Montgomery Scott LLC Has $20.32 Million Position in Ferrari (NYSE:RACE)

Janney Montgomery Scott LLC increased its stake in shares of Ferrari (NYSE:RACE) by 4.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,033 shares of the company’s stock after purchasing an additional 2,506 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Ferrari were worth $20,317,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Jamison Private Wealth Management Inc. acquired a new stake in shares of Ferrari during the fourth quarter valued at about $27,000. Householder Group Estate & Retirement Specialist LLC increased its holdings in Ferrari by 320.0% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 105 shares of the company’s stock valued at $35,000 after purchasing an additional 80 shares during the period. Blue Trust Inc. increased its stake 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 buying an additional 30 shares during the period. Headlands Technologies LLC acquired a new position in shares of Ferrari in the fourth quarter worth approximately $43,000. Finally, Hexagon Capital Partners LLC boosted its holdings in Ferrari by 32.1% in the fourth quarter. Hexagon Capital Partners LLC now owns 206 shares of the company’s stock valued at $70,000 after acquiring an additional 50 shares during the last quarter.

Ferrari Price Performance

Shares of RACE stock traded up $3.99 during trading hours on Thursday, reaching $421.20. The stock had a trading volume of 83,727 shares, compared to its average volume of 302,558. The stock’s fifty day simple moving average is $420.65 and its 200 day simple moving average is $381.51. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.18 and a quick ratio of 3.25. Ferrari has a 12 month low of $283.20 and a 12 month high of $442.80.

Ferrari Dividend Announcement

The firm also recently announced an annual dividend, which was paid on Friday, May 3rd. Shareholders of record on Tuesday, April 23rd were paid a $2.443 dividend. The ex-dividend date was Monday, April 22nd. This represents a yield of 0.62%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Morgan Stanley restated an “overweight” rating and issued a $400.00 price target on shares of Ferrari in a research report on Monday, April 22nd. StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a research report on Monday. Citigroup downgraded Ferrari from a “neutral” rating to a “sell” rating in a report on Monday, March 4th. Evercore ISI raised their price objective on Ferrari from $430.00 to $465.00 and gave the company an “outperform” rating in a research note on Monday, April 22nd. Finally, Bank of America increased their target price on Ferrari from $458.00 to $512.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $456.67.

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.