Stegent Equity Advisors Inc. Invests $1.25 Million in Ferrari (NYSE:RACE)

Stegent Equity Advisors Inc. purchased a new position in shares of Ferrari (NYSE:RACE) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,935 shares of the company’s stock, valued at approximately $1,247,000. Ferrari comprises approximately 1.3% of Stegent Equity Advisors Inc.’s investment portfolio, making the stock its 29th largest holding.

Other large investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Ferrari by 29.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,500 shares of the company’s stock worth $1,179,000 after acquiring an additional 570 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Ferrari by 11.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 2,345 shares of the company’s stock worth $1,102,000 after acquiring an additional 241 shares during the last quarter. First Trust Direct Indexing L.P. lifted its holdings in Ferrari by 8.4% in the third quarter. First Trust Direct Indexing L.P. now owns 3,656 shares of the company’s stock worth $1,719,000 after acquiring an additional 284 shares during the last quarter. Financial Advocates Investment Management lifted its holdings in Ferrari by 2.9% in the third quarter. Financial Advocates Investment Management now owns 2,889 shares of the company’s stock worth $1,355,000 after acquiring an additional 81 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. bought a new position in Ferrari in the third quarter worth about $29,000.

Ferrari Price Performance

NYSE RACE opened at $479.66 on Thursday. Ferrari has a 12 month low of $399.27 and a 12 month high of $509.13. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. The firm has a market capitalization of $116.92 billion, a PE ratio of 52.42, a P/E/G ratio of 4.43 and a beta of 0.95. The company’s 50 day simple moving average is $448.41 and its 200 day simple moving average is $456.52.

Ferrari Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Tuesday, May 6th. Investors of record on Wednesday, April 23rd will be paid a dividend of $3.1265 per share. This represents a dividend yield of 0.5%. The ex-dividend date is Wednesday, April 23rd. This is a positive change from Ferrari’s previous annual dividend of $2.44. Ferrari’s dividend payout ratio (DPR) is currently 5.63%.

Analyst Upgrades and Downgrades

RACE has been the topic of a number of recent research reports. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Barclays cut Ferrari from an “overweight” rating to an “equal weight” rating in a report on Wednesday, February 5th. UBS Group lifted their price target on Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Ferrari in a report on Thursday, February 6th. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $507.14.

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.