SeaCrest Wealth Management LLC Acquires 227 Shares of Ferrari (NYSE:RACE)

SeaCrest Wealth Management LLC lifted its holdings in shares of Ferrari (NYSE:RACE) by 7.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,416 shares of the company’s stock after purchasing an additional 227 shares during the period. SeaCrest Wealth Management LLC’s holdings in Ferrari were worth $1,489,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Jamison Private Wealth Management Inc. acquired a new position in shares of Ferrari in the 4th quarter worth approximately $27,000. Register Financial Advisors LLC acquired a new stake in Ferrari during the 1st quarter worth about $33,000. Householder Group Estate & Retirement Specialist LLC grew its holdings in Ferrari by 320.0% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 105 shares of the company’s stock worth $35,000 after acquiring an additional 80 shares during the period. Blue Trust Inc. raised its position in shares of Ferrari by 37.0% in the 4th quarter. Blue Trust Inc. now owns 111 shares of the company’s stock worth $38,000 after acquiring an additional 30 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of Ferrari in the 4th quarter valued at about $43,000.

Ferrari Stock Up 1.0 %

RACE opened at $414.38 on Wednesday. Ferrari has a 1 year low of $285.02 and a 1 year high of $442.80. The company has a debt-to-equity ratio of 0.80, a quick ratio of 3.25 and a current ratio of 4.18. The stock’s 50 day simple moving average is $415.26 and its 200 day simple moving average is $396.63.

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

Ferrari Announces Dividend

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

Analyst Upgrades and Downgrades

RACE has been the subject of a number of research reports. Sanford C. Bernstein raised their price target on shares of Ferrari from $448.00 to $512.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. Evercore ISI boosted their target price on Ferrari from $430.00 to $465.00 and gave the company an “outperform” rating in a research report on Monday, April 22nd. StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, May 29th. Morgan Stanley reissued an “overweight” rating and issued a $400.00 price objective on shares of Ferrari in a research note on Monday, April 22nd. Finally, Jefferies Financial Group started coverage on Ferrari in a research report on Friday, May 10th. They set a “hold” rating and a $403.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target 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.