Viad Corp (VVI) Holdings Reduced by Bessemer Group Inc.
Bessemer Group Inc. trimmed its holdings in shares of Viad Corp (NYSE:VVI) by 87.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 26,820 shares of the business services provider’s stock after selling 193,231 shares during the period. Bessemer Group Inc. owned approximately 0.13% of Viad worth $1,589,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of VVI. BlackRock Inc. lifted its holdings in shares of Viad by 8.3% during the 2nd quarter. BlackRock Inc. now owns 2,858,310 shares of the business services provider’s stock valued at $155,062,000 after buying an additional 218,878 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Viad by 1.0% during the 3rd quarter. Victory Capital Management Inc. now owns 989,553 shares of the business services provider’s stock valued at $58,631,000 after buying an additional 9,425 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Viad by 3.4% during the 3rd quarter. Wells Fargo & Company MN now owns 627,732 shares of the business services provider’s stock valued at $37,192,000 after buying an additional 20,604 shares during the period. GMT Capital Corp lifted its holdings in shares of Viad by 5.9% during the 2nd quarter. GMT Capital Corp now owns 558,965 shares of the business services provider’s stock valued at $30,324,000 after buying an additional 31,200 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Viad by 2.3% during the 2nd quarter. Northern Trust Corp now owns 369,040 shares of the business services provider’s stock valued at $20,021,000 after buying an additional 8,243 shares during the period. Institutional investors and hedge funds own 89.04% of the company’s stock.
Several equities analysts have recently weighed in on the company. Northcoast Research reissued a “neutral” rating on shares of Viad in a report on Friday, July 27th. Zacks Investment Research cut Viad from a “hold” rating to a “sell” rating in a report on Saturday, October 27th. Janney Montgomery Scott initiated coverage on Viad in a report on Thursday. They issued a “buy” rating on the stock. Finally, ValuEngine cut Viad from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd.
Viad (NYSE:VVI) last announced its earnings results on Thursday, October 25th. The business services provider reported $1.72 EPS for the quarter, missing the Zacks’ consensus estimate of $1.84 by ($0.12). Viad had a return on equity of 9.90% and a net margin of 2.34%. The company had revenue of $358.16 million during the quarter, compared to the consensus estimate of $381.40 million. As a group, analysts forecast that Viad Corp will post 2.43 earnings per share for the current year.
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Viad Corp operates as an experiential services company in the United States, Canada, the United Kingdom, continental Europe, and the United Arab Emirates. The company operates in two business groups, GES and Pursuit. It offers event planning and production, look and feel design, layout and floor plan designs, furnishings and carpet, show traffic analysis, marketing and strategy, electrical distribution, cleaning, plumbing, overhead and booth rigging, and material handling services; and signage products and common area structures.
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