SG Americas Securities LLC Has $23.92 Million Stock Holdings in Ferrari N.V. $RACE

SG Americas Securities LLC boosted its position in Ferrari N.V. (NYSE:RACE) by 17,538.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 64,732 shares of the company’s stock after acquiring an additional 64,365 shares during the period. SG Americas Securities LLC’s holdings in Ferrari were worth $23,922,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mather Group LLC. acquired a new position in Ferrari during the 3rd quarter valued at about $27,000. Westside Investment Management Inc. grew its position in shares of Ferrari by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 56 shares of the company’s stock worth $27,000 after buying an additional 28 shares during the period. Root Financial Partners LLC acquired a new stake in shares of Ferrari during the 3rd quarter worth approximately $28,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Ferrari during the second quarter worth approximately $30,000. Finally, Community Bank N.A. bought a new stake in shares of Ferrari during the third quarter worth approximately $33,000.

Ferrari Stock Up 0.2%

Ferrari stock opened at $322.84 on Friday. The firm has a market capitalization of $75.53 billion, a price-to-earnings ratio of 31.93, a PEG ratio of 3.15 and a beta of 0.97. The company’s 50 day simple moving average is $348.00 and its 200 day simple moving average is $388.56. The company has a debt-to-equity ratio of 0.74, a current ratio of 5.70 and a quick ratio of 4.38. Ferrari N.V. has a fifty-two week low of $312.51 and a fifty-two week high of $519.10.

Ferrari Increases Dividend

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

Wall Street Analysts Forecast Growth

RACE has been the topic of a number of recent research reports. Jefferies Financial Group reaffirmed a “hold” rating on shares of Ferrari in a research note on Wednesday, February 11th. Barclays set a $420.00 target price on shares of Ferrari and gave the company an “overweight” rating in a research report on Tuesday, December 9th. Sanford C. Bernstein reissued an “outperform” rating and issued a $410.00 price target on shares of Ferrari in a research note on Wednesday, February 11th. Morgan Stanley set a $420.00 price target on Ferrari in a research report on Monday, February 16th. Finally, Oddo Bhf cut Ferrari to a “neutral” rating in a research note on Wednesday, December 10th. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Ferrari currently has a consensus rating of “Moderate Buy” and a consensus target price of $475.61.

Ferrari Company Profile

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.