JPMorgan Chase & Co. decreased its position in Viad Corp. (NYSE:VVI) by 1.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 263,502 shares of the company’s stock after selling 3,425 shares during the period. JPMorgan Chase & Co. owned about 1.30% of Viad Corp. worth $8,169,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Contravisory Investment Management Inc. purchased a new stake in Viad Corp. during the second quarter worth approximately $138,000. BNP Paribas Arbitrage SA raised its stake in shares of Viad Corp. by 112.3% in the second quarter. BNP Paribas Arbitrage SA now owns 6,319 shares of the company’s stock worth $196,000 after buying an additional 3,342 shares during the period. Louisiana State Employees Retirement System raised its stake in shares of Viad Corp. by 1.1% in the second quarter. Louisiana State Employees Retirement System now owns 9,000 shares of the company’s stock worth $279,000 after buying an additional 100 shares during the period. KBC Group NV raised its stake in shares of Viad Corp. by 71.3% in the second quarter. KBC Group NV now owns 9,024 shares of the company’s stock worth $280,000 after buying an additional 3,755 shares during the period. Finally, 1st Global Advisors Inc. raised its stake in shares of Viad Corp. by 0.6% in the second quarter. 1st Global Advisors Inc. now owns 9,236 shares of the company’s stock worth $286,000 after buying an additional 52 shares during the period. Institutional investors own 88.32% of the company’s stock.
Viad Corp. (NYSE:VVI) traded down 1.92% during mid-day trading on Friday, hitting $35.26. The stock had a trading volume of 69,719 shares. The company has a market capitalization of $715.25 million, a P/E ratio of 38.08 and a beta of 0.93. The stock’s 50-day moving average is $36.27 and its 200 day moving average is $32.61. Viad Corp. has a 52 week low of $25.90 and a 52 week high of $37.85.
Viad Corp. (NYSE:VVI) last issued its quarterly earnings data on Thursday, July 28th. The company reported $1.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.22. The business had revenue of $324.70 million for the quarter, compared to the consensus estimate of $304.90 million. Viad Corp. had a return on equity of 6.77% and a net margin of 1.75%. The firm’s revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.18 EPS. Equities analysts forecast that Viad Corp. will post $2.28 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Friday, September 9th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend was Wednesday, September 7th. Viad Corp.’s dividend payout ratio is 43.48%.
A number of brokerages have recently issued reports on VVI. B. Riley reaffirmed a “buy” rating and set a $39.25 target price on shares of Viad Corp. in a research report on Thursday, June 16th. Zacks Investment Research lowered Viad Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, June 15th.
In other Viad Corp. news, Director Robert E. Munzenrider sold 2,000 shares of Viad Corp. stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $35.87, for a total value of $71,740.00. Following the sale, the director now owns 22,106 shares of the company’s stock, valued at approximately $792,942.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.10% of the stock is owned by company insiders.
Viad Corp. Company Profile
Viad Corp is an international experiential services company. The Company has operations in the United States, Canada, the United Kingdom, continental Europe and the United Arab Emirates. The Company conducts its operations through three business segments: the Marketing & Events U.S. Segment (U.S. Segment), the Marketing & Events International Segment (the International Segment) (collectively, the Marketing & Events Group), and the Travel & Recreation Group.
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