Gardner Lewis Asset Management L P Buys 425 Shares of Ferrari (NYSE:RACE)

Gardner Lewis Asset Management L P raised its position in shares of Ferrari (NYSE:RACE) by 12.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,895 shares of the company’s stock after purchasing an additional 425 shares during the quarter. Gardner Lewis Asset Management L P’s holdings in Ferrari were worth $1,655,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Hanson & Doremus Investment Management acquired a new stake in Ferrari during the 4th quarter worth about $26,000. Hobbs Group Advisors LLC purchased a new stake in shares of Ferrari in the third quarter worth approximately $47,000. Armstrong Advisory Group Inc. lifted its stake in Ferrari by 100.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock valued at $42,000 after acquiring an additional 50 shares in the last quarter. Kestra Investment Management LLC purchased a new position in Ferrari during the fourth quarter worth about $45,000. Finally, Plato Investment Management Ltd bought a new stake in Ferrari in the 4th quarter worth about $53,000.

Ferrari Stock Up 3.1 %

Shares of NYSE:RACE opened at $426.66 on Friday. The stock’s 50-day moving average price is $456.12 and its 200-day moving average price is $452.75. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. Ferrari has a 12-month low of $399.27 and a 12-month high of $509.13. The stock has a market capitalization of $103.41 billion, a P/E ratio of 46.63, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94.

Ferrari Increases Dividend

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

Analyst Ratings Changes

RACE has been the subject of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on Ferrari from $525.00 to $460.00 and set an “overweight” rating for the company in a report on Thursday. Barclays downgraded shares of Ferrari from an “overweight” rating to an “equal weight” rating in a report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft began coverage on shares of Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating on the stock. Finally, StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $497.86.

Ferrari 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.