Stevens Capital Management LP Increases Stake in Viad Corp (VVI)
Stevens Capital Management LP increased its position in Viad Corp (NYSE:VVI) by 17.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,666 shares of the business services provider’s stock after buying an additional 1,262 shares during the period. Stevens Capital Management LP’s holdings in Viad Corp were worth $392,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. State of Alaska Department of Revenue increased its stake in shares of Viad Corp by 1.8% in the first quarter. State of Alaska Department of Revenue now owns 2,240 shares of the business services provider’s stock worth $101,000 after buying an additional 40 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Viad Corp by 1.2% in the first quarter. Louisiana State Employees Retirement System now owns 8,300 shares of the business services provider’s stock worth $375,000 after buying an additional 100 shares in the last quarter. Comerica Bank increased its stake in shares of Viad Corp by 2.1% in the first quarter. Comerica Bank now owns 22,481 shares of the business services provider’s stock worth $1,036,000 after buying an additional 462 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Viad Corp by 5.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 10,930 shares of the business services provider’s stock worth $482,000 after buying an additional 560 shares in the last quarter. Finally, Public Sector Pension Investment Board increased its stake in shares of Viad Corp by 4.3% in the fourth quarter. Public Sector Pension Investment Board now owns 14,408 shares of the business services provider’s stock worth $635,000 after buying an additional 600 shares in the last quarter. Institutional investors own 84.39% of the company’s stock.
Viad Corp (VVI) traded up 1.36% during mid-day trading on Thursday, hitting $44.75. The stock had a trading volume of 58,563 shares. The company has a market cap of $911.96 million, a PE ratio of 16.23 and a beta of 0.51. Viad Corp has a one year low of $29.50 and a one year high of $48.85. The firm’s 50-day moving average price is $44.10 and its 200 day moving average price is $44.72.
Viad Corp (NYSE:VVI) last released its quarterly earnings results on Friday, April 28th. The business services provider reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.16. The business had revenue of $325.81 million during the quarter, compared to analysts’ expectations of $312.15 million. Viad Corp had a return on equity of 13.54% and a net margin of 3.51%. The company’s revenue was up 35.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.30) EPS. On average, equities research analysts anticipate that Viad Corp will post $2.46 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Friday, June 2nd will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Wednesday, May 31st. Viad Corp’s payout ratio is 19.23%.
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A number of analysts recently issued reports on the company. B. Riley restated a “buy” rating and issued a $49.25 price target on shares of Viad Corp in a research report on Tuesday, March 14th. Zacks Investment Research upgraded Viad Corp from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research report on Thursday, April 13th. Finally, Northcoast Research restated a “neutral” rating on shares of Viad Corp in a research report on Monday, February 13th.
Viad Corp Company Profile
Viad Corp is an international experiential services company. The Company operates through two main business groups: GES, which is a live event service provider to some of the visible and influential events and global brands, and Pursuit, which is a collection of destination travel experiences. GES conducts its operations through two geographical segments: GES U.S., which has full-service operations in exhibition market in the United States, including Las Vegas, Nevada; Chicago, Illinois; Orlando, Florida; New York, New York, and Los Angeles, California, and GES International, which had full-service operations at many of the event destinations and venues.
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