Viad Corp (NYSE:VVI) Position Raised by State Street Corp
State Street Corp boosted its position in shares of Viad Corp (NYSE:VVI) by 7.4% during the first quarter, Holdings Channel reports. The institutional investor owned 491,035 shares of the business services provider’s stock after buying an additional 33,660 shares during the period. State Street Corp’s holdings in Viad Corp were worth $22,197,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Viad Corp during the fourth quarter worth approximately $14,781,000. Teachers Advisors LLC boosted its position in shares of Viad Corp by 3.1% in the fourth quarter. Teachers Advisors LLC now owns 347,478 shares of the business services provider’s stock valued at $15,324,000 after buying an additional 10,557 shares during the last quarter. Highbridge Capital Management LLC bought a new position in shares of Viad Corp during the fourth quarter valued at about $218,000. Louisiana State Employees Retirement System boosted its position 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 valued at $375,000 after buying an additional 100 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its position 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 valued at $101,000 after buying an additional 40 shares during the last quarter. 86.84% of the stock is currently owned by institutional investors.
Shares of Viad Corp (VVI) traded up 0.48% during mid-day trading on Friday, reaching $52.30. 53,876 shares of the company were exchanged. Viad Corp has a 12 month low of $34.40 and a 12 month high of $54.75. The company’s 50-day moving average is $49.36 and its 200 day moving average is $46.07. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 16.50 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 for the quarter, beating the consensus estimate of $0.96 by $0.26. Viad Corp had a net margin of 4.85% and a return on equity of 16.76%. The firm had revenue of $364.77 million during the quarter, compared to analyst estimates of $347.35 million. During the same quarter in the previous year, the firm earned $1.04 earnings per share. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. Analysts predict that Viad Corp will post $2.76 EPS for the current year.
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VVI has been the subject of several research analyst reports. Zacks Investment Research cut shares of Viad Corp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 18th. BidaskClub upgraded shares of Viad Corp from a “buy” rating to a “strong-buy” rating in a report 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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