Fmr LLC Has $34.53 Million Holdings in Viad Corp (VVI)
Fmr LLC lifted its stake in Viad Corp (NYSE:VVI) by 52.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 730,850 shares of the business services provider’s stock after acquiring an additional 250,850 shares during the period. Fmr LLC owned approximately 3.59% of Viad Corp worth $34,533,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Acrospire Investment Management LLC acquired a new stake in shares of Viad Corp in the second quarter worth $107,000. SG Americas Securities LLC acquired a new stake in shares of Viad Corp in the second quarter worth $120,000. State of Alaska Department of Revenue grew its stake 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 acquiring an additional 1,780 shares during the last quarter. Mason Street Advisors LLC grew its stake in shares of Viad Corp by 7.0% in the first quarter. Mason Street Advisors LLC now owns 4,749 shares of the business services provider’s stock worth $215,000 after acquiring an additional 311 shares during the last quarter. Finally, Capital Fund Management S.A. grew its stake in shares of Viad Corp by 21.7% in the second quarter. Capital Fund Management S.A. now owns 5,600 shares of the business services provider’s stock worth $265,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 86.09% of the company’s stock.
Shares of Viad Corp (VVI) opened at 60.80 on Friday. The stock has a 50 day moving average of $58.62 and a 200 day moving average of $50.22. The firm has a market cap of $1.24 billion, a P/E ratio of 19.18 and a beta of 0.52. Viad Corp has a 52 week low of $35.25 and a 52 week high of $61.85.
Viad Corp (NYSE:VVI) last issued its quarterly earnings data on Thursday, July 27th. The business services provider reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.26. Viad Corp had a return on equity of 16.76% and a net margin of 4.85%. The firm had revenue of $364.77 million for the quarter, compared to analyst estimates of $347.35 million. During the same period in the prior year, the firm posted $1.04 EPS. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. Equities analysts forecast that Viad Corp will post $2.76 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 8th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date was Thursday, September 7th. Viad Corp’s dividend payout ratio is 12.62%.
VVI has been the topic of several research analyst reports. BidaskClub upgraded shares of Viad Corp from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th. Zacks Investment Research upgraded shares of Viad Corp from a “hold” rating to a “strong-buy” rating and set a $57.00 price objective on the stock in a research note on Saturday, July 29th.
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Viad Corp 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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