Ameriprise Financial Inc. lowered its position in shares of Viad Corp. (NYSE:VVI) by 22.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 188,872 shares of the company’s stock after selling 53,521 shares during the period. Ameriprise Financial Inc. owned approximately 0.93% of Viad Corp. worth $5,855,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in VVI. Loomis Sayles & Co. L P boosted its position in Viad Corp. by 19.1% in the first quarter. Loomis Sayles & Co. L P now owns 425,032 shares of the company’s stock worth $12,394,000 after buying an additional 68,289 shares during the period. BlackRock Group LTD boosted its position in Viad Corp. by 7.1% in the first quarter. BlackRock Group LTD now owns 29,360 shares of the company’s stock worth $857,000 after buying an additional 1,956 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in Viad Corp. by 0.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 532,623 shares of the company’s stock worth $15,531,000 after buying an additional 3,538 shares during the period. HBK Investments L P boosted its position in Viad Corp. by 24.4% in the first quarter. HBK Investments L P now owns 42,310 shares of the company’s stock worth $1,234,000 after buying an additional 8,310 shares during the period. Finally, Northpointe Capital LLC boosted its position in Viad Corp. by 4.9% in the second quarter. Northpointe Capital LLC now owns 439,426 shares of the company’s stock worth $13,622,000 after buying an additional 20,409 shares during the period. Hedge funds and other institutional investors own 88.32% of the company’s stock.
Shares of Viad Corp. (NYSE:VVI) traded up 0.71% during trading on Wednesday, reaching $35.35. The company’s stock had a trading volume of 12,293 shares. The stock has a market cap of $717.07 million, a P/E ratio of 38.17 and a beta of 0.93. Viad Corp. has a 12-month low of $25.90 and a 12-month high of $37.85. The stock’s 50-day moving average is $36.22 and its 200-day moving average is $32.74.
Viad Corp. (NYSE:VVI) last issued its quarterly earnings results on Thursday, July 28th. The company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.22. Viad Corp. had a return on equity of 6.77% and a net margin of 1.75%. The firm had revenue of $324.70 million for the quarter, compared to analysts’ expectations of $304.90 million. During the same period in the previous year, the firm posted $1.18 EPS. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. Equities research analysts anticipate that Viad Corp. will post $2.28 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Friday, September 9th were given a $0.10 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.14%. Viad Corp.’s dividend payout ratio is currently 43.48%.
A number of equities analysts have recently commented on VVI shares. Zacks Investment Research raised Viad Corp. from a “hold” rating to a “strong-buy” rating and set a $43.00 price target for the company in a report on Thursday, September 29th. B. Riley reissued a “buy” rating and set a $42.00 price target on shares of Viad Corp. in a report on Wednesday, August 17th.
In related news, Director Robert E. Munzenrider sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $35.87, for a total value of $71,740.00. Following the transaction, the director now directly owns 22,106 shares of the company’s stock, valued at approximately $792,942.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.10% of the stock is owned by 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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