Ferrari (NYSE:RACE) Short Interest Down 20.9% in February

Ferrari (NYSE:RACE) was the target of a significant decrease in short interest in the month of February. As of February 15th, there was short interest totalling 1,250,000 shares, a decrease of 20.9% from the January 31st total of 1,580,000 shares. Based on an average daily volume of 301,700 shares, the days-to-cover ratio is presently 4.1 days. Currently, 1.0% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Barclays downgraded shares of Ferrari from an “overweight” rating to an “equal weight” rating in a report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferrari in a report on Thursday, February 6th. They issued a “hold” rating for the company. Finally, UBS Group upped their price objective on shares of Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $507.14.

Ferrari Price Performance

NYSE RACE traded down $4.43 on Tuesday, reaching $459.77. The company’s stock had a trading volume of 459,445 shares, compared to its average volume of 278,313. Ferrari has a twelve month low of $399.27 and a twelve month high of $509.13. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. The stock has a market cap of $111.44 billion, a PE ratio of 50.25, a PEG ratio of 4.43 and a beta of 0.95. The firm’s 50 day moving average is $451.04 and its two-hundred day moving average is $457.10.

Ferrari Increases Dividend

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

Institutional Trading of Ferrari

Several institutional investors and hedge funds have recently bought and sold shares of RACE. Jennison Associates LLC raised its holdings in Ferrari by 910.1% during the 3rd quarter. Jennison Associates LLC now owns 2,926,616 shares of the company’s stock worth $1,368,622,000 after buying an additional 2,636,869 shares during the period. Norges Bank bought a new stake in Ferrari during the fourth quarter worth approximately $697,226,000. Price T Rowe Associates Inc. MD boosted its position in Ferrari by 49.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,796,264 shares of the company’s stock worth $763,125,000 after purchasing an additional 594,547 shares during the period. Barclays PLC boosted its position in Ferrari by 198.0% during the fourth quarter. Barclays PLC now owns 853,971 shares of the company’s stock worth $362,802,000 after purchasing an additional 567,407 shares during the period. Finally, Marshall Wace LLP boosted its position in shares of Ferrari by 62.1% in the fourth quarter. Marshall Wace LLP now owns 1,358,467 shares of the company’s stock valued at $579,561,000 after acquiring an additional 520,337 shares during the period.

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.