Ferrari’s (NYSE:RACE) Periodic Report on its Stock Buyback Program

Ferrari’s (NYSE:RACE) Periodic Report on its Stock Buyback Program

$RACE

Ferrari (NYSE/MTA: RACE) announces that under the third tranche of the common share buyback program announced on 14 November 2019, the Company has purchased additional common shares reported in aggregate form, on a daily basis on the Italian Stock Exchange (MTA) as follows:

MTANYSETotal
Trading
Date
(d/m/y)

 
Number of common shares purchased

 
Average price per share
excluding fees
(€)
Consideration excluding fees



(€)

 
Number of common shares purchased

 
Average price per share
excluding fees
($)
Consideration excluding fees



($)

 
Consideration excluding fees



(€)*

 
Number of common shares purchased

 
Average price per share
excluding fees
(€)*
Consideration excluding fees



(€)*

 
10/02/20206,151153.0435941,370.604,927167.0552823,080.97751,603.4811,078152.82311,692,974.08
13/02/2020552157.063586,699.05552157.063586,699.05
 Total6,703153.37461,028,069.654,927167.0552823,080.97751,603.4811,630153.02431,779,673.13

Since the announcement of the 3rd Tranche of the buyback program dated 14 November 2019 till 14 February 2020, the total invested consideration has been:

  • Euro 65,159,155.77 for No. 429,355 common shares purchased on the MTA
  • USD 3,768,310.71 (Euro 3,402,333.85*) for No. 22,540 common shares purchased on the NYSE

That results in total No. 8,849,502 common shares held in treasury as of 14 February 2020.

As of the same date, the Company held 3.44% of the total issued share capital including the common shares and the special voting shares, net of shares assigned under the Company’s equity incentive plan.

To date, since 1 January 2019, the Company has purchased a total of 3,117,028 own common shares on MTA and NYSE for a total consideration of Euro 418,161,979.51.

(*) translated at the European Central Bank EUR/USD exchange reference rate as of the date of each purchase

A comprehensive overview of the transactions carried out under the buyback program, as well as the details of the above transactions, are available on Ferrari’s corporate website under the Buyback Programs section (http://corporate.ferrari.com/en/investors/stock-and-shareholder-corner/buyback-programs).

Attachment

Ferrari is the Aristocrat of the automotive sector.

Enzo Ferrari’s iconic Italian Supercar manufacturer claimed the title according to the latest Brand Finance Global 500 2019 report launched at the World Economic Forum in Davos.

HeffX-LTN overall technical outlook for RACE is Bullish, there is resistance at 175.00, and Key support is solid at 169.80, the stock has established strong long term support. The MACD is Very Bullish in here.

Ferrari finished at 173.26, +0.95 Friday in NY.

Ferrari will continue to create value in the long term. Ferrari is a quality 1st long term luxury products investment, and I have called it at it at 200+/share long term, adjusting it to 200/share short term and siding with BAML to 230 long term for now.

Have a terrific holiday weekend

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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