California State Teachers Retirement System Trims Position in Viad Corp (VVI)
California State Teachers Retirement System lowered its stake in shares of Viad Corp (NYSE:VVI) by 9.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 32,639 shares of the business services provider’s stock after selling 3,211 shares during the period. California State Teachers Retirement System’s holdings in Viad were worth $1,988,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently bought and sold shares of the company. OxFORD Asset Management LLP purchased a new stake in Viad during the third quarter valued at about $713,000. Schwab Charles Investment Management Inc. lifted its holdings in Viad by 1.7% during the third quarter. Schwab Charles Investment Management Inc. now owns 153,939 shares of the business services provider’s stock valued at $9,375,000 after purchasing an additional 2,523 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in Viad by 149.6% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 28,205 shares of the business services provider’s stock valued at $1,718,000 after purchasing an additional 16,905 shares during the last quarter. TimesSquare Capital Management LLC lifted its holdings in Viad by 103.1% during the third quarter. TimesSquare Capital Management LLC now owns 405,840 shares of the business services provider’s stock valued at $24,716,000 after purchasing an additional 206,000 shares during the last quarter. Finally, Rothschild Asset Management Inc. lifted its holdings in Viad by 0.8% during the third quarter. Rothschild Asset Management Inc. now owns 200,163 shares of the business services provider’s stock valued at $12,190,000 after purchasing an additional 1,508 shares during the last quarter. Institutional investors own 86.07% of the company’s stock.
In other news, Director Robert E. Munzenrider sold 2,100 shares of the stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $56.01, for a total value of $117,621.00. Following the sale, 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 at this link. Corporate insiders own 2.00% of the company’s stock.
Shares of Viad Corp (VVI) opened at $57.85 on Thursday. The company has a market cap of $1,180.00, a PE ratio of 15.81 and a beta of 0.51. Viad Corp has a fifty-two week low of $42.05 and a fifty-two week high of $61.85. The company has a current ratio of 0.71, a quick ratio of 0.60 and a debt-to-equity ratio of 0.13.
Viad (NYSE:VVI) last released its quarterly earnings data on Thursday, October 26th. The business services provider reported $1.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.02. Viad had a net margin of 5.86% and a return on equity of 13.91%. The business had revenue of $339.10 million for the quarter, compared to the consensus estimate of $327.59 million. During the same period in the prior year, the firm earned $1.74 earnings per share. The company’s revenue was down 11.3% compared to the same quarter last year. equities research analysts anticipate that Viad Corp will post 2.59 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend was Thursday, December 14th. Viad’s payout ratio is 10.93%.
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Viad Company 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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