Ferrari (NYSE:RACE) Reports on Completing Its Stock Buyback Program

$RACE

Ferrari (NYSE:RACE) announced Wednesday that under the common share buyback program announced on 9 February 2018, the Company has purchased additional common shares; reported in aggregate form, on daily basis – on the Italian Stock Exchange (MTA) and the New York Stock Exchange (NYSE) as in the attachment link below.

Since the announcement of the buyback program dated 9 February 2018 to 27 November 2018 for No. 1,033,218 common shares purchased resulting in 6,002,843 common shares held in Company treasury as of 27 November 2018.

As of the same date, the Company held 2.40% of the total issued share capital including the common shares and the special voting shares.

A comprehensive overview of the transactions carried out under the share buyback program is available on the corporate website (http://corporate.ferrari.com).

With the purchases described above the Company has completed its buyback program announced on 9 February 2018.

Recent major institutional buying

Crossmark Global Holdings Inc. lifted its stake in Ferrari by 11.3% in Q-3. The firm owned 11,760 shares of the company’s stock after purchasing an additional 1,197/shares during the frame.

Crossmark Global Holdings Inc.’s holdings in Ferrari were worth $1,610,000 at the end of the most recent Quarter.

Several other hedge funds and other institutional investors also recently bought shares of RACE.

• Nisa Investment Advisors LLC bought a new position in shares of Ferrari in Q-2 worth about $155,000.
• Bessemer Group Inc. grew its holdings in shares of Ferrari by 163.6% in Q-2, it now owns 8,120 shares of the company’s stock worth $1,096,000 after purchasing an additional 5,040/shares during the last Quarter.
• Advisory Services Network LLC grew its holdings in shares of Ferrari by 44.1% in Q-2. Advisory Services Network LLC now owns 2,435/shares of the company’s stock worth $323,000 after purchasing an additional 745 shares during the last Quarter.
• Assetmark Inc. grew its holdings in shares of Ferrari by 4.3% in Q-2. Assetmark Inc. now owns 84,770/shares of the company’s stock worth $11,445,000 after purchasing an additional 3,485 shares during the last Quarter.
• Victory Capital Management Inc. grew its holdings in shares of Ferrari by 15,027.1% in Q-2. Victory Capital Management Inc. now owns 340,058/shares of the company’s stock worth $45,911,000 after purchasing an additional 337,810 shares during the last quarter.

Hedge funds and other institutional investors own 33.46% of the company’s stock.

Stay tuned…

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