Viad Corp (VVI) Shares Bought by Municipal Employees Retirement System of Michigan
Municipal Employees Retirement System of Michigan increased its stake in shares of Viad Corp (NYSE:VVI) by 34.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,220 shares of the business services provider’s stock after purchasing an additional 2,860 shares during the quarter. Municipal Employees Retirement System of Michigan owned about 0.05% of Viad worth $683,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in VVI. Acrospire Investment Management LLC bought a new stake in shares of Viad during the second quarter valued at approximately $107,000. SG Americas Securities LLC bought a new position in Viad in the second quarter valued at approximately $120,000. State of Alaska Department of Revenue boosted its stake in Viad 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 valued at $189,000 after acquiring an additional 1,780 shares during the last quarter. Piedmont Investment Advisors LLC bought a new position in Viad in the second quarter valued at approximately $208,000. Finally, Emerald Mutual Fund Advisers Trust bought a new position in Viad in the third quarter valued at approximately $215,000. 86.12% of the stock is currently owned by institutional investors and hedge funds.
Separately, Zacks Investment Research cut shares of Viad from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 28th.
In other Viad news, Director Robert E. Munzenrider sold 2,100 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $56.01, for a total value of $117,621.00. Following the transaction, the director now directly owns 21,179 shares of the company’s stock, valued at $1,186,235.79. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.00% of the stock is currently owned by company insiders.
Shares of Viad Corp (NYSE VVI) remained flat at $$57.60 during mid-day trading on Friday. 63,204 shares of the company were exchanged, compared to its average volume of 87,109. Viad Corp has a 1-year low of $42.05 and a 1-year high of $61.85. The stock has a market capitalization of $1,165.49, a P/E ratio of 20.61 and a beta of 0.51. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.71 and a quick ratio of 0.60.
Viad (NYSE:VVI) last announced its quarterly earnings data on Thursday, October 26th. The business services provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.02. Viad had a net margin of 5.86% and a return on equity of 13.91%. The firm had revenue of $339.10 million for the quarter, compared to analysts’ expectations of $327.59 million. During the same period last year, the firm earned $1.74 earnings per share. The business’s revenue for the quarter was down 11.3% on a year-over-year basis. research analysts anticipate that Viad Corp will post 2.59 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be paid a $0.10 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.40 dividend on an annualized basis and a yield of 0.69%. Viad’s payout ratio is presently 10.84%.
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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