New York State Teachers Retirement System held its position in Viad Corp. (NYSE:VVI) during the second quarter, Holdings Channel reports. The firm owned 72,011 shares of the company’s stock at the end of the second quarter. New York State Teachers Retirement System’s holdings in Viad Corp. were worth $2,232,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Loomis Sayles & Co. L P increased its stake in shares of Viad Corp. by 19.1% in the first quarter. Loomis Sayles & Co. L P now owns 425,032 shares of the company’s stock valued at $12,394,000 after buying an additional 68,289 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Viad Corp. by 32.2% in the first quarter. JPMorgan Chase & Co. now owns 266,927 shares of the company’s stock valued at $7,783,000 after buying an additional 64,950 shares during the period. Hartford Investment Management Co. increased its stake in shares of Viad Corp. by 99.2% in the second quarter. Hartford Investment Management Co. now owns 112,899 shares of the company’s stock valued at $3,500,000 after buying an additional 56,211 shares during the period. Teachers Advisors Inc. increased its stake in shares of Viad Corp. by 8.4% in the first quarter. Teachers Advisors Inc. now owns 273,577 shares of the company’s stock valued at $7,978,000 after buying an additional 21,220 shares during the period. Finally, Reinhart Partners Inc. increased its stake in shares of Viad Corp. by 22.5% in the second quarter. Reinhart Partners Inc. now owns 63,014 shares of the company’s stock valued at $1,953,000 after buying an additional 11,570 shares during the period. 88.32% of the stock is currently owned by institutional investors and hedge funds.
Viad Corp. (NYSE:VVI) traded up 0.85% during trading on Friday, hitting $35.40. The stock had a trading volume of 69,206 shares. The company has a market capitalization of $718.09 million, a P/E ratio of 38.23 and a beta of 0.93. The stock’s 50-day moving average price is $36.16 and its 200-day moving average price is $32.83. Viad Corp. has a 1-year low of $25.90 and a 1-year high of $37.85.
Viad Corp. (NYSE:VVI) last posted its earnings results on Thursday, July 28th. The company reported $1.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.22. The company had revenue of $324.70 million for the quarter, compared to analysts’ expectations of $304.90 million. Viad Corp. had a return on equity of 6.77% and a net margin of 1.75%. Viad Corp.’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the firm earned $1.18 earnings per share. Analysts expect that Viad Corp. will post $2.28 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Friday, September 9th were paid a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $0.40 annualized dividend and a dividend yield of 1.13%. Viad Corp.’s payout ratio is presently 43.48%.
VVI has been the subject of several analyst reports. B. Riley reissued a “buy” rating and issued a $39.25 price objective on shares of Viad Corp. in a research note on Tuesday, June 21st. Zacks Investment Research raised Viad Corp. from a “hold” rating to a “strong-buy” rating and set a $43.00 price objective for the company in a research note on Thursday, September 29th.
In related news, Director Robert E. Munzenrider sold 2,000 shares of the firm’s 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 directly owns 22,106 shares of the company’s stock, valued at $792,942.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.10% of the stock is owned by corporate insiders.
About Viad Corp.
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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