California Public Employees Retirement System Sells 1,600 Shares of Viad Corp (VVI)
California Public Employees Retirement System decreased its position in Viad Corp (NYSE:VVI) by 5.7% during the first quarter, Holdings Channel reports. The firm owned 26,700 shares of the business services provider’s stock after selling 1,600 shares during the period. California Public Employees Retirement System’s holdings in Viad Corp were worth $1,207,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the company. FMR LLC purchased a new stake in Viad Corp during the first quarter worth $21,696,000. Norges Bank purchased a new stake in Viad Corp during the fourth quarter worth $14,781,000. Bank of New York Mellon Corp increased its stake in Viad Corp by 33.8% in the first quarter. Bank of New York Mellon Corp now owns 390,385 shares of the business services provider’s stock worth $17,644,000 after buying an additional 98,638 shares during the period. Wells Fargo & Company MN increased its stake in Viad Corp by 11.6% in the first quarter. Wells Fargo & Company MN now owns 660,384 shares of the business services provider’s stock worth $29,849,000 after buying an additional 68,738 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. increased its stake in Viad Corp by 93.7% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 74,773 shares of the business services provider’s stock worth $3,379,000 after buying an additional 36,171 shares during the period. 86.84% of the stock is owned by institutional investors.
Viad Corp (NYSE VVI) opened at 52.50 on Thursday. The company has a 50 day moving average price of $49.18 and a 200-day moving average price of $46.03. Viad Corp has a 52 week low of $34.40 and a 52 week high of $54.75. The company has a market capitalization of $1.07 billion, a P/E ratio of 16.56 and a beta of 0.54.
Viad Corp (NYSE:VVI) last released its earnings results on Thursday, July 27th. The business services provider reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.26. Viad Corp had a return on equity of 16.76% and a net margin of 4.85%. The business had revenue of $364.77 million for the quarter, compared to analyst estimates of $347.35 million. During the same quarter in the prior year, the company posted $1.04 earnings per share. Viad Corp’s revenue was up 12.3% on a year-over-year basis. On average, equities analysts anticipate that Viad Corp will post $2.76 earnings per share for the current fiscal year.
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VVI has been the subject of a number of recent research reports. Zacks Investment Research downgraded Viad Corp from a “hold” rating to a “sell” rating in a research note on Wednesday, May 3rd. BidaskClub raised Viad Corp from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th.
About Viad Corp
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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