Insider Buying: Virco Manufacturing (NASDAQ:VIRC) CEO Buys $26,746.00 in Stock

Virco Manufacturing Corporation (NASDAQ:VIRC) CEO Robert Virtue purchased 4,300 shares of Virco Manufacturing stock in a transaction that occurred on Thursday, June 11th. The shares were purchased at an average price of $6.22 per share, for a total transaction of $26,746.00. Following the transaction, the chief executive officer directly owned 506,124 shares in the company, valued at $3,148,091.28. This represents a 0.86% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Virco Manufacturing Stock Performance

NASDAQ:VIRC opened at $6.13 on Thursday. The stock’s 50-day simple moving average is $6.02 and its 200 day simple moving average is $6.29. The firm has a market capitalization of $96.42 million, a PE ratio of -102.15 and a beta of 0.21. The company has a quick ratio of 0.90, a current ratio of 2.71 and a debt-to-equity ratio of 0.03. Virco Manufacturing Corporation has a twelve month low of $5.16 and a twelve month high of $9.09.

Virco Manufacturing (NASDAQ:VIRC) last released its quarterly earnings data on Wednesday, June 3rd. The company reported ($0.18) earnings per share 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 analyst estimates 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 disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 19th will be paid a $0.025 dividend. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $0.10 annualized dividend and a yield of 1.6%. Virco Manufacturing’s dividend payout ratio (DPR) is -166.67%.

Analyst Upgrades and Downgrades

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

Institutional Trading of Virco Manufacturing

Hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Virco Manufacturing during the third quarter worth $41,000. State of Alaska Department of Revenue acquired a new position in shares of Virco Manufacturing during the fourth quarter worth $47,000. Barclays PLC lifted its stake in shares of Virco Manufacturing by 16.4% in the fourth quarter. Barclays PLC now owns 17,665 shares of the company’s stock worth $113,000 after acquiring an additional 2,495 shares during the period. Park Edge Advisors LLC lifted its stake in shares of Virco Manufacturing by 12.9% in the fourth quarter. Park Edge Advisors LLC now owns 18,100 shares of the company’s stock worth $116,000 after acquiring an additional 2,072 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of Virco Manufacturing in the first quarter worth approximately $186,000. 30.97% of the stock is owned by institutional investors and hedge funds.

About Virco Manufacturing

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.