Ferrari N.V. (MTA:RACE) announces that under the third tranche of the common share buyback program announced on 14 November 2019 (“Third Tranche”), the Company has purchased additional common shares – reported in aggregate form, on a daily basis – on the Italian Stock Exchange (MTA) as follows:
Number of common shares purchased
Average price per share
Since the announcement of the Third Tranche of the buyback program dated 14 November 2019 till 10 January 2020, the total invested consideration has been:
- Euro 38,431,888.99 for No. 255,578 common shares purchased on the MTA USD 2,945,229.74 (Euro 2,650,730.37*) for No. 17,613 common shares purchased on the NYSE resulting in total No. 8,670,798 common shares held in treasury as of 10 January 2020. As of the same date, the Company held 3.37% 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 2,938,324 own common shares on MTA and NYSE for Euro 390,683,109.25 total invested consideration.
(*) translated at the European Central Bank EUR/USD exchange reference rate as of the date of each purchase
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 to Very Bullish, overhead resistance is None, and Key support is solid at 167.82, 3 of our Key indicators are now Bullish, and the stock has established strong long term support ahead of this coming breakout North.
Ferrari broke out and finished at 174.29, +2.98 Monday in NY.
Ferrari will continue to create value in the long term. Ferrari is a quality 1st long term luxury products investment, and I see it at 200+/share in that frame.
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