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

International Assets Investment Management LLC cut its holdings in shares of Ferrari N.V. (NYSE:RACE) by 61.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 institutional investors and hedge funds have also recently added to or reduced their stakes in RACE. AQR Capital Management LLC lifted its position in Ferrari by 78.9% during the 1st quarter. AQR Capital Management LLC now owns 3,568 shares of the company’s stock worth $1,527,000 after buying an additional 1,574 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Ferrari by 31.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 194 shares of the company’s stock worth $82,000 after buying an additional 46 shares in the last quarter. Woodline Partners LP bought a new stake in Ferrari during the 1st quarter worth about $1,519,000. Sivia Capital Partners LLC lifted its position in Ferrari by 67.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 913 shares of the company’s stock worth $448,000 after buying an additional 368 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in Ferrari by 7.5% during the 2nd quarter. Rhumbline Advisers now owns 1,370 shares of the company’s stock worth $672,000 after buying an additional 96 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts have commented on RACE shares. Sanford C. Bernstein reissued an “outperform” rating and set a $410.00 price target on shares of Ferrari in a research report on Wednesday, February 11th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ferrari in a report on Wednesday, February 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ferrari in a report on Friday, April 10th. Citigroup raised shares of Ferrari from a “sell” rating to a “neutral” rating in a report on Thursday, February 12th. Finally, Morgan Stanley set a $420.00 target price on shares of Ferrari in a report on Monday, February 16th. Three 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $469.06.

Ferrari Stock Down 3.1%

Shares of RACE stock opened at $329.09 on Tuesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.08 and a current ratio of 5.20. The firm’s 50-day moving average is $343.69 and its 200-day moving average is $363.99. The stock has a market cap of $76.99 billion, a price-to-earnings ratio of 31.58, a PEG ratio of 3.31 and a beta of 0.95. Ferrari N.V. has a 52-week low of $312.51 and a 52-week high of $519.10.

Ferrari Increases Dividend

The business also recently declared an annual dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 21st were issued a $3.615 dividend. The ex-dividend date of this dividend was Tuesday, April 21st. This represents a yield of 119.0%. This is an increase from Ferrari’s previous annual dividend of $3.13.

About Ferrari

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.