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Maxi Investments sold most of its Ferrari shares, while the company raised dividends and bought back stock despite regulatory and on-track risks.
Maxi Investments CY Ltd reduced its stake in Ferrari N.V. (RACE) by 87.4% in Q3, selling 8,800 shares and retaining 1,272, valued at $617,000.
The stock opened at $334.39, near its 52-week low of $328.00, with a market cap of $78.23 billion and a P/E ratio of 33.07.
Ferrari announced a new annual dividend of $3.615 per share, yielding 99.0%, up from $3.13, payable May 5 to shareholders of record April 21.
The company continues its €3.5 billion share buyback, having repurchased about 99,836 shares by March 13.
Strong motorsport results at the Chinese Grand Prix boosted sentiment, but regulatory scrutiny over a car component and on-track driver tensions introduced near-term risks.
Analysts maintain a “Moderate Buy” consensus with a $475.61 target.
Maxi Investments vendió la mayor parte de sus acciones de Ferrari, mientras que la compañía aumentó los dividendos y compró de nuevo acciones a pesar de los riesgos regulatorios y de la pista.