Insider Buying: Virco Manufacturing (NASDAQ:VIRC) EVP Purchases $48,498.00 in Stock

Virco Manufacturing Corporation (NASDAQ:VIRC) EVP Douglas Virtue acquired 8,083 shares of the stock in a transaction on Wednesday, July 8th. The shares were bought at an average cost of $6.00 per share, for a total transaction of $48,498.00. Following the purchase, the executive vice president directly owned 888,663 shares of the company’s stock, valued at $5,331,978. The trade was a 0.92% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

Virco Manufacturing Trading Up 4.3%

Shares of VIRC traded up $0.26 during midday trading on Friday, reaching $6.36. The company had a trading volume of 52,320 shares, compared to its average volume of 122,839. Virco Manufacturing Corporation has a 1-year low of $5.16 and a 1-year high of $9.09. The company has a quick ratio of 0.90, a current ratio of 2.71 and a debt-to-equity ratio of 0.03. The firm has a 50 day simple moving average of $6.11 and a 200-day simple moving average of $6.22. The stock has a market cap of $100.04 million, a PE ratio of -105.98 and a beta of 0.21.

Virco Manufacturing (NASDAQ:VIRC) last announced its quarterly earnings results 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). Virco Manufacturing had a negative net margin of 0.48% and a negative return on equity of 0.16%. The firm had revenue of $30.69 million for the quarter, compared to analyst estimates of $27.20 million.

Virco Manufacturing Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Friday, June 19th were issued a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Thursday, June 18th. Virco Manufacturing’s dividend payout ratio is currently -166.67%.

Institutional Investors Weigh In On Virco Manufacturing

Hedge funds have recently added to or reduced their stakes in the business. Minerva Advisors LLC increased its holdings in Virco Manufacturing by 6.3% during the 4th quarter. Minerva Advisors LLC now owns 1,448,198 shares of the company’s stock worth $9,254,000 after purchasing an additional 85,696 shares during the period. AQR Capital Management LLC grew its position in shares of Virco Manufacturing by 25.7% during the first quarter. AQR Capital Management LLC now owns 317,915 shares of the company’s stock worth $3,007,000 after buying an additional 64,944 shares in the last quarter. KTF Investments LLC purchased a new stake in shares of Virco Manufacturing during the fourth quarter worth approximately $179,000. Trexquant Investment LP raised its holdings in Virco Manufacturing by 111.0% in the fourth quarter. Trexquant Investment LP now owns 53,145 shares of the company’s stock valued at $340,000 after acquiring an additional 27,963 shares in the last quarter. Finally, Jane Street Group LLC lifted its stake in Virco Manufacturing by 207.2% in the second quarter. Jane Street Group LLC now owns 41,090 shares of the company’s stock worth $328,000 after acquiring an additional 27,716 shares during the last quarter. 30.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

VIRC has been the topic of a number of research reports. Weiss Ratings restated a “sell (d+)” rating on shares of Virco Manufacturing in a research note on Wednesday. Freedom Capital cut Virco Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 4th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce”.

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.