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Ferrari buys back €14.4M worth of shares

Ferrari NV bought back a total of 105,284 common shares worth approximately €14.4 million from the Italian Stock Exchange and the New York Stock Exchange between Sept. 16 and Sept. 20.

The Italian automaker repurchased the shares at an average price of €137.13 per share, according to a Sept. 23 release.

Ferrari repurchased 78,461 shares from the Italian Stock Exchange for a total consideration of €10.7 million and 26,823 shares from the New York Stock Exchange for a total consideration of €3.7 million, or $4.1 million.

The shares were repurchased in Milan at an average price of €136.62 per share, while in New York, the shares were repurchased at an average price of $153.12 per share.

In the previous week, the luxury-car maker repurchased €38.9 million worth of shares.

Ferrari has so far bought back shares worth about €111.4 million in Milan and $21.7 million worth of stock in New York under the second tranche of its multi-year share buyback program.