Hexagon Capital Partners LLC Grows Stake in Ferrari (NYSE:RACE)

Hexagon Capital Partners LLC grew its holdings in Ferrari (NYSE:RACE) by 16.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 239 shares of the company’s stock after buying an additional 33 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Ferrari were worth $104,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Register Financial Advisors LLC bought a new position in shares of Ferrari in the 1st quarter worth approximately $33,000. Jamison Private Wealth Management Inc. purchased a new stake in Ferrari during the 4th quarter valued at $27,000. Householder Group Estate & Retirement Specialist LLC boosted its stake in Ferrari by 320.0% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 105 shares of the company’s stock valued at $35,000 after purchasing an additional 80 shares during the last quarter. Blue Trust Inc. boosted its stake in Ferrari by 37.0% during the 4th quarter. Blue Trust Inc. now owns 111 shares of the company’s stock valued at $38,000 after purchasing an additional 30 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in Ferrari during the 4th quarter valued at $43,000.

Ferrari Stock Up 0.5 %

NYSE RACE traded up $1.87 during trading hours on Monday, hitting $410.24. 187,380 shares of the company were exchanged, compared to its average volume of 282,159. The stock has a 50-day moving average price of $415.26 and a 200 day moving average price of $396.31. The company has a current ratio of 4.18, a quick ratio of 3.25 and a debt-to-equity ratio of 0.80. Ferrari has a 52 week low of $285.02 and a 52 week high of $442.80.

Ferrari (NYSE:RACE) last announced its earnings results on Tuesday, May 7th. The company reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.08. Ferrari had a return on equity of 43.94% and a net margin of 21.42%. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.73 billion. Research analysts predict that Ferrari will post 8.2 earnings per share for the current year.

Ferrari Announces Dividend

The firm also recently announced an annual dividend, which was paid on Friday, May 3rd. Shareholders of record on Tuesday, April 23rd were given a dividend of $2.443 per share. The ex-dividend date of this dividend was Monday, April 22nd. This represents a dividend yield of 0.62%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Jefferies Financial Group assumed coverage on Ferrari in a research note on Friday, May 10th. They issued a “hold” rating and a $403.00 price target on the stock. UBS Group lifted their target price on Ferrari from $448.00 to $478.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Morgan Stanley reiterated an “overweight” rating and set a $400.00 target price on shares of Ferrari in a research report on Monday, April 22nd. Sanford C. Bernstein lifted their target price on Ferrari from $448.00 to $512.00 and gave the company an “outperform” rating in a research report on Thursday, April 18th. Finally, Citigroup downgraded Ferrari from a “neutral” rating to a “sell” rating in a research report on Monday, March 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $461.67.

Ferrari Company Profile

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.