Viad Corp (VVI) Shares Bought by BNP Paribas Arbitrage SA
BNP Paribas Arbitrage SA lifted its stake in Viad Corp (NYSE:VVI) by 71.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,406 shares of the business services provider’s stock after buying an additional 2,659 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Viad Corp were worth $303,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in VVI. SG Americas Securities LLC purchased a new position in shares of Viad Corp in the second quarter worth $120,000. Asset Management One Co. Ltd. purchased a new position in shares of Viad Corp in the first quarter worth $151,000. LS Investment Advisors LLC lifted its holdings in shares of Viad Corp by 374.8% in the first quarter. LS Investment Advisors LLC now owns 3,509 shares of the business services provider’s stock worth $159,000 after buying an additional 2,770 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Viad Corp by 79.5% in the second quarter. State of Alaska Department of Revenue now owns 4,020 shares of the business services provider’s stock worth $189,000 after buying an additional 1,780 shares in the last quarter. Finally, Capital Fund Management S.A. purchased a new position in shares of Viad Corp in the first quarter worth $208,000. 86.09% of the stock is currently owned by hedge funds and other institutional investors.
Viad Corp (NYSE:VVI) opened at 57.20 on Wednesday. The stock has a market cap of $1.17 billion, a P/E ratio of 18.04 and a beta of 0.50. Viad Corp has a 12-month low of $34.40 and a 12-month high of $57.38. The stock has a 50 day moving average of $54.17 and a 200 day moving average of $47.78.
Viad Corp (NYSE:VVI) last announced its quarterly earnings data on Thursday, July 27th. The business services provider reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.26. The company had revenue of $364.77 million for the quarter, compared to analyst estimates of $347.35 million. Viad Corp had a return on equity of 16.76% and a net margin of 4.85%. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.04 EPS. On average, equities research analysts anticipate that Viad Corp will post $2.76 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 8th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.40 dividend on an annualized basis and a yield of 0.70%. Viad Corp’s payout ratio is currently 12.62%.
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Several equities analysts have recently commented on VVI shares. BidaskClub raised shares of Viad Corp from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. Zacks Investment Research raised shares of Viad Corp from a “hold” rating to a “strong-buy” rating and set a $57.00 target price on the stock in a report on Saturday, July 29th.
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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