Ferrari (NYSE:RACE) is Merlin Capital Inc’s 5th Largest Position

Merlin Capital Inc reduced its position in shares of Ferrari (NYSE:RACE) by 3.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,398 shares of the company’s stock after selling 98 shares during the period. Ferrari makes up 2.6% of Merlin Capital Inc’s portfolio, making the stock its 5th biggest holding. Merlin Capital Inc’s holdings in Ferrari were worth $812,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Jamison Private Wealth Management Inc. bought a new stake in shares of Ferrari during the 4th quarter worth $27,000. Householder Group Estate & Retirement Specialist LLC lifted its holdings in shares of Ferrari by 320.0% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 105 shares of the company’s stock worth $35,000 after acquiring an additional 80 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Ferrari by 37.0% during the 4th quarter. Blue Trust Inc. now owns 111 shares of the company’s stock worth $38,000 after acquiring an additional 30 shares during the last quarter. Headlands Technologies LLC bought a new stake in Ferrari in the fourth quarter worth $43,000. Finally, Allworth Financial LP lifted its stake in Ferrari by 327.5% in the third quarter. Allworth Financial LP now owns 218 shares of the company’s stock worth $64,000 after purchasing an additional 167 shares during the last quarter.

Analyst Upgrades and Downgrades

RACE has been the subject of several recent research reports. Sanford C. Bernstein boosted their price target on shares of Ferrari from $448.00 to $512.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Barclays downgraded shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Thursday, April 4th. Bank of America boosted their price target on shares of Ferrari from $458.00 to $512.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. UBS Group boosted their price target on shares of Ferrari from $413.00 to $448.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Finally, Morgan Stanley reiterated an “overweight” rating and set a $400.00 target price on shares of Ferrari in a report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ferrari has a consensus rating of “Hold” and a consensus price target of $413.86.

Ferrari Price Performance

Shares of Ferrari stock traded down $8.15 during trading on Tuesday, reaching $414.29. 83,967 shares of the stock were exchanged, compared to its average volume of 302,361. Ferrari has a 1 year low of $273.39 and a 1 year high of $442.80. The stock’s fifty day moving average is $420.92 and its 200 day moving average is $372.75. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.98 and a current ratio of 3.91.

Ferrari (NYSE:RACE) last released its quarterly earnings results on Thursday, February 1st. The company reported $1.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.15. Ferrari had a net margin of 21.06% and a return on equity of 43.84%. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.61 billion. Sell-side analysts predict that Ferrari will post 8.31 earnings per share for the current fiscal year.

Ferrari Announces Dividend

The business also recently declared an annual dividend, which will be paid on Friday, May 3rd. Investors of record on Tuesday, April 23rd will be paid a $2.443 dividend. This represents a yield of 0.62%. The ex-dividend date of this dividend is Monday, April 22nd.

About Ferrari

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.