International Assets Investment Management LLC Sells 1,919 Shares of Ferrari N.V. $RACE

International Assets Investment Management LLC reduced its stake in Ferrari N.V. (NYSE:RACE) by 61.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,201 shares of the company’s stock after selling 1,919 shares during the quarter. International Assets Investment Management LLC’s holdings in Ferrari were worth $444,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of RACE. Westside Investment Management Inc. raised its holdings in Ferrari by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 56 shares of the company’s stock valued at $27,000 after acquiring an additional 28 shares during the period. Root Financial Partners LLC bought a new position in Ferrari in the 3rd quarter valued at about $28,000. Community Bank N.A. bought a new position in Ferrari in the 3rd quarter valued at about $33,000. CX Institutional raised its holdings in Ferrari by 227.3% in the 3rd quarter. CX Institutional now owns 72 shares of the company’s stock valued at $35,000 after acquiring an additional 50 shares during the period. Finally, CoreCap Advisors LLC raised its holdings in Ferrari by 70.0% in the 4th quarter. CoreCap Advisors LLC now owns 102 shares of the company’s stock valued at $38,000 after acquiring an additional 42 shares during the period.

Ferrari Stock Performance

Shares of NYSE:RACE opened at $329.09 on Tuesday. The company’s 50 day moving average price is $343.69 and its two-hundred day moving average price is $363.99. Ferrari N.V. has a 12-month low of $312.51 and a 12-month high of $519.10. The firm has a market cap of $76.99 billion, a PE ratio of 31.58, a PEG ratio of 3.31 and a beta of 0.95. The company has a quick ratio of 4.08, a current ratio of 5.20 and a debt-to-equity ratio of 0.72.

Ferrari Increases Dividend

The firm also recently announced an annual dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 21st were given a dividend of $3.615 per share. This represents a dividend yield of 119.0%. The ex-dividend date was Tuesday, April 21st. This is a boost from Ferrari’s previous annual dividend of $3.13.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on RACE shares. Weiss Ratings reissued a “hold (c)” rating on shares of Ferrari in a report on Friday, April 10th. UBS Group decreased their target price on shares of Ferrari from $555.00 to $483.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. Morgan Stanley set a $420.00 target price on shares of Ferrari in a research report on Monday, February 16th. JPMorgan Chase & Co. increased their target price on shares of Ferrari from $407.00 to $447.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 3rd. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Ferrari in a research report on Wednesday, February 11th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Ferrari presently has an average rating of “Moderate Buy” and a consensus target price of $469.06.

Ferrari 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.