Quantbot Technologies LP Buys 8,977 Shares of Ferrari (NYSE:RACE)

Quantbot Technologies LP raised its stake in Ferrari (NYSE:RACE) by 82.2% in the 4th quarter, HoldingsChannel reports. The firm owned 19,903 shares of the company’s stock after acquiring an additional 8,977 shares during the quarter. Quantbot Technologies LP’s holdings in Ferrari were worth $8,456,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Bank of Italy raised its position in shares of Ferrari by 2.8% during the fourth quarter. Bank of Italy now owns 2,339,620 shares of the company’s stock worth $1,002,392,000 after purchasing an additional 63,675 shares during the period. Bank of New York Mellon Corp increased its stake in Ferrari by 2.4% during the 4th quarter. Bank of New York Mellon Corp now owns 1,612,108 shares of the company’s stock valued at $684,888,000 after purchasing an additional 38,356 shares in the last quarter. William Blair Investment Management LLC raised its holdings in Ferrari by 6.4% during the fourth quarter. William Blair Investment Management LLC now owns 594,657 shares of the company’s stock worth $252,634,000 after buying an additional 35,525 shares during the last quarter. Banco Santander S.A. lifted its stake in shares of Ferrari by 4.2% in the fourth quarter. Banco Santander S.A. now owns 414,720 shares of the company’s stock valued at $176,190,000 after buying an additional 16,663 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of Ferrari by 6.1% during the third quarter. Barclays PLC now owns 286,564 shares of the company’s stock valued at $134,719,000 after buying an additional 16,428 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on RACE shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Ferrari in a report on Thursday, February 6th. They issued a “hold” rating on the stock. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Finally, Barclays cut Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 5th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Ferrari currently has an average rating of “Moderate Buy” and an average price target of $507.14.

Ferrari Price Performance

Shares of NYSE RACE opened at $436.10 on Friday. The company has a market capitalization of $105.70 billion, a PE ratio of 47.66, a PEG ratio of 4.43 and a beta of 0.94. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. The stock’s 50 day moving average price is $456.03 and its 200-day moving average price is $454.22. Ferrari has a twelve month low of $399.27 and a twelve month high of $509.13.

Ferrari Increases Dividend

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

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.