Viad Corp. (VVI) Sees Strong Trading Volume
Shares of Viad Corp. (NYSE:VVI) saw strong trading volume on Friday . 134,199 shares were traded during trading, an increase of 40% from the previous session’s volume of 95,986 shares.The stock last traded at $31.67 and had previously closed at $30.68.
Several analysts recently weighed in on the company. Zacks Investment Research upgraded Viad Corp. from a “hold” rating to a “strong-buy” rating and set a $35.00 price objective for the company in a research report on Tuesday, April 26th. B. Riley restated a “buy” rating and set a $39.00 price objective on shares of Viad Corp. in a research report on Wednesday, April 27th.
The stock has a market capitalization of $638.92 million and a PE ratio of 29.40. The company’s 50-day moving average is $31.20 and its 200-day moving average is $29.45.
Viad Corp. (NYSE:VVI) last released its earnings results on Thursday, April 28th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.28) by $0.02. The business earned $241.40 million during the quarter, compared to analyst estimates of $253.72 million. During the same period in the prior year, the company earned ($0.12) earnings per share. Viad Corp.’s revenue was down 8.7% on a year-over-year basis. Analysts anticipate that Viad Corp. will post $2.27 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 1st. Shareholders of record on Friday, June 3rd were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend was Wednesday, June 1st.
A number of hedge funds have recently added to or reduced their stakes in VVI. Cornerstone Capital Management Holdings LLC. increased its stake in Viad Corp. by 155.9% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 37,620 shares of the company’s stock worth $1,062,000 after buying an additional 22,920 shares in the last quarter. Boston Partners boosted its position in shares of Viad Corp. by 3.1% in the fourth quarter. Boston Partners now owns 52,902 shares of the company’s stock valued at $1,493,000 after buying an additional 1,600 shares during the period. EAM Investors LLC bought a new position in shares of Viad Corp. during the fourth quarter valued at $2,692,000. Shell Asset Management Co. bought a new position in shares of Viad Corp. during the fourth quarter valued at $1,422,000. Finally, California State Teachers Retirement System boosted its position in shares of Viad Corp. by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 37,161 shares of the company’s stock valued at $1,049,000 after buying an additional 631 shares during the period.
Viad Corp is an international experiential services company. The Company has operations in the United States, Canada, the United Kingdom, continental Europe and the United Arab Emirates. The Company conducts its operations through three business segments: the Marketing & Events U.S. Segment (U.S. Segment), the Marketing & Events International Segment (the International Segment) (collectively, the Marketing & Events Group), and the Travel & Recreation Group.
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