Virco Manufacturing (NASDAQ:VIRC) Stock Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Shares of Virco Manufacturing Corporation (NASDAQ:VIRC) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.31 and traded as high as $6.56. Virco Manufacturing shares last traded at $6.48, with a volume of 55,128 shares trading hands.

Wall Street Analyst Weigh In

VIRC has been the topic of a number of research reports. Weiss Ratings cut Virco Manufacturing from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, April 10th. Freedom Capital lowered Virco Manufacturing from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 4th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Virco Manufacturing has an average rating of “Reduce”.

Virco Manufacturing Price Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.90 and a current ratio of 2.71. The stock has a market capitalization of $101.93 million, a price-to-earnings ratio of -107.98 and a beta of 0.21. The business’s 50 day simple moving average is $6.02 and its 200-day simple moving average is $6.31.

Virco Manufacturing (NASDAQ:VIRC) last released its quarterly earnings results on Wednesday, June 3rd. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.19). The business had revenue of $30.69 million for the quarter, compared to the consensus estimate of $27.20 million. Virco Manufacturing had a negative net margin of 0.48% and a negative return on equity of 0.16%.

Virco Manufacturing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 19th will be paid a dividend of $0.025 per share. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $0.10 annualized dividend and a yield of 1.5%. Virco Manufacturing’s payout ratio is presently -166.67%.

Insider Transactions at Virco Manufacturing

In other Virco Manufacturing news, EVP Douglas A. Virtue purchased 11,678 shares of Virco Manufacturing stock in a transaction on Wednesday, April 15th. The stock was bought at an average price of $6.09 per share, for a total transaction of $71,119.02. Following the transaction, the executive vice president owned 877,866 shares of the company’s stock, valued at $5,346,203.94. The trade was a 1.35% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders acquired 22,527 shares of company stock worth $135,562. Insiders own 16.94% of the company’s stock.

Institutional Investors Weigh In On Virco Manufacturing

Hedge funds and other institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Virco Manufacturing in the 3rd quarter valued at about $41,000. State of Alaska Department of Revenue acquired a new position in Virco Manufacturing during the 4th quarter valued at about $47,000. Barclays PLC raised its position in shares of Virco Manufacturing by 16.4% during the 4th quarter. Barclays PLC now owns 17,665 shares of the company’s stock worth $113,000 after buying an additional 2,495 shares in the last quarter. Park Edge Advisors LLC raised its position in shares of Virco Manufacturing by 12.9% during the 4th quarter. Park Edge Advisors LLC now owns 18,100 shares of the company’s stock worth $116,000 after buying an additional 2,072 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Virco Manufacturing in the 1st quarter worth approximately $186,000. 30.97% of the stock is currently owned by institutional investors.

Virco Manufacturing Company Profile

Virco Manufacturing Corporation (NASDAQ: VIRC) is a leading American manufacturer of furniture, primarily serving the K-12 education market. Headquartered in Torrance, California, the company designs, produces and distributes a comprehensive range of classroom seating, student desks, tables and educational workstations. Over several decades, Virco has built a reputation for durable, cost-effective solutions tailored to the needs of schools, colleges and other institutional customers.

The company’s product portfolio includes molded plastic and wood-seat student chairs, modular and fixed-height desks, multi-purpose tables, computer furniture, laboratory stools and teacher furnishings.