Ferrari (NYSE:RACE) Short Interest Up 34.0% in March

by · The Markets Daily

Ferrari (NYSE:RACE – Get Free Report) saw a large growth in short interest in March. As of March 31st, there was short interest totalling 2,050,000 shares, a growth of 34.0% from the March 15th total of 1,530,000 shares. Based on an average daily trading volume, of 490,500 shares, the short-interest ratio is presently 4.2 days. Currently, 1.6% of the company’s stock are sold short.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its stake in Ferrari by 8.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,139 shares of the company’s stock worth $4,307,000 after buying an additional 755 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in Ferrari during the fourth quarter worth about $853,000. Russell Investments Group Ltd. raised its stake in Ferrari by 2.6% during the fourth quarter. Russell Investments Group Ltd. now owns 128,482 shares of the company’s stock worth $54,847,000 after purchasing an additional 3,277 shares during the period. Sapient Capital LLC boosted its holdings in Ferrari by 1.0% in the 4th quarter. Sapient Capital LLC now owns 67,322 shares of the company’s stock valued at $28,737,000 after purchasing an additional 653 shares during the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. purchased a new stake in shares of Ferrari in the 4th quarter valued at approximately $3,371,000.

Ferrari Stock Performance

NYSE:RACE traded up $7.01 during mid-day trading on Friday, hitting $439.76. The company’s stock had a trading volume of 239,651 shares, compared to its average volume of 328,119. Ferrari has a 1 year low of $391.54 and a 1 year 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 stock has a market cap of $106.59 billion, a price-to-earnings ratio of 48.06, a PEG ratio of 4.43 and a beta of 1.03. The business’s fifty day moving average is $450.23 and its two-hundred day moving average is $447.34.

Ferrari Increases Dividend

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RACE. Deutsche Bank Aktiengesellschaft initiated coverage on Ferrari in a research note on Thursday, February 6th. They set a “hold” rating on the stock. JPMorgan Chase & Co. cut their price target on shares of Ferrari from $525.00 to $460.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Kepler Capital Markets raised shares of Ferrari from a “hold” rating to a “buy” rating in a report on Friday, March 28th. Barclays raised shares of Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, March 28th. Finally, StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Ferrari has an average rating of “Moderate Buy” and a consensus price target of $481.60.

View Our Latest Stock Analysis on Ferrari

Ferrari Company Profile

(Get Free Report)

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.

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