Virco Manufacturing (NASDAQ:VIRC) Stock Passes Above 200-Day Moving Average – What’s Next?

Virco Manufacturing Corporation (NASDAQ:VIRC) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.27 and traded as high as $6.35. Virco Manufacturing shares last traded at $6.11, with a volume of 58,074 shares.

Wall Street Analysts Forecast Growth

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

Virco Manufacturing Price Performance

The firm has a 50-day moving average of $6.08 and a 200-day moving average of $6.25. 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 firm has a market capitalization of $106.18 million, a P/E ratio of -112.48 and a beta of 0.21.

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

Virco Manufacturing Announces Dividend

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

Insiders Place Their Bets

In other news, EVP Douglas A. Virtue acquired 11,678 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The shares were purchased at an average cost of $6.09 per share, for a total transaction of $71,119.02. Following the transaction, the executive vice president directly owned 877,866 shares of the company’s stock, valued at approximately $5,346,203.94. This trade represents a 1.35% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Robert A. Virtue purchased 4,300 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was acquired at an average price of $6.22 per share, with a total value of $26,746.00. Following the completion of the purchase, the chief executive officer directly owned 506,124 shares in the company, valued at $3,148,091.28. This trade represents a 0.86% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have bought 26,827 shares of company stock valued at $162,308. Insiders own 16.94% of the company’s stock.

Institutional Trading of Virco Manufacturing

Several hedge funds have recently made changes to their positions in VIRC. Empowered Funds LLC raised its stake in shares of Virco Manufacturing by 4.9% in the first quarter. Empowered Funds LLC now owns 39,826 shares of the company’s stock valued at $244,000 after acquiring an additional 1,869 shares during the period. Park Edge Advisors LLC lifted its stake in Virco Manufacturing by 60.9% in the first quarter. Park Edge Advisors LLC now owns 29,119 shares of the company’s stock worth $178,000 after acquiring an additional 11,019 shares during the period. Bridgeway Capital Management LLC lifted its position in shares of Virco Manufacturing by 3.4% in the 4th quarter. Bridgeway Capital Management LLC now owns 95,057 shares of the company’s stock worth $607,000 after purchasing an additional 3,095 shares during the period. Trexquant Investment LP lifted its holdings in Virco Manufacturing by 111.0% during the fourth quarter. Trexquant Investment LP now owns 53,145 shares of the company’s stock worth $340,000 after buying an additional 27,963 shares during the period. Finally, Barclays PLC lifted its stake 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 purchasing an additional 2,495 shares during the last quarter. 30.97% of the stock is currently owned by hedge funds and other 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.