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Ferrari ( (IT:RACE) ) has shared an announcement.
Ferrari N.V. announced the completion of its sixth tranche of a multi-year share buyback program, purchasing additional common shares worth Euro 150 million. This initiative is a part of a larger Euro 2 billion buyback plan expected to conclude by 2026. The ongoing buyback program is aimed at optimizing Ferrari’s capital structure and providing value to its shareholders. To date, the company has invested over Euro 1.2 billion in repurchasing shares on the Euronext Milan and New York Stock Exchange.
More about Ferrari
Ferrari N.V. is a prominent luxury sports car manufacturer based in Maranello, Italy. The company is renowned for producing high-performance vehicles and operates in the luxury automotive industry, focusing on innovation and excellence in design and engineering.
YTD Price Performance: 26.48%
Average Trading Volume: 303,002
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $103B
See more insights into RACE stock on TipRanks’ Stock Analysis page.
