Virco Manufacturing (NASDAQ:VIRC) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

Virco Manufacturing Corporation (NASDAQ:VIRC) shares crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $6.14 and traded as high as $6.55. Virco Manufacturing shares last traded at $6.50, with a volume of 30,673 shares traded.

Wall Street Analyst Weigh In

VIRC has been the topic of several analyst reports. Wall Street Zen raised shares of Virco Manufacturing from a “sell” rating to a “hold” rating in a research report on Saturday, September 5th. Weiss Ratings reissued a “sell (d+)” rating on shares of Virco Manufacturing in a research report on Friday, October 2nd. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce”.

Virco Manufacturing Price Performance

The company has a current ratio of 2.53, a quick ratio of 1.43 and a debt-to-equity ratio of 0.03. The company has a 50 day moving average price of $6.23 and a 200 day moving average price of $6.14. The company has a market capitalization of $102.15 million, a P/E ratio of -40.50 and a beta of 0.14.

Virco Manufacturing (NASDAQ:VIRC) last posted its quarterly earnings results on Friday, September 4th. The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.48. Virco Manufacturing had a negative return on equity of 2.32% and a negative net margin of 1.31%. The business had revenue of $87.47 million for the quarter, compared to analysts’ expectations of $72.10 million.

Virco Manufacturing Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Friday, September 18th were given a $0.0250 dividend. The ex-dividend date of this dividend was Friday, September 18th. This represents a $0.10 annualized dividend and a dividend yield of 1.5%. Virco Manufacturing’s dividend payout ratio is presently -62.50%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of VIRC. IFP Advisors Inc lifted its position in Virco Manufacturing by 101.6% during the second quarter. IFP Advisors Inc now owns 5,857 shares of the company’s stock worth $36,000 after acquiring an additional 2,952 shares during the last quarter. Susquehanna International Group LLP grew its position in shares of Virco Manufacturing by 564.4% in the second quarter. Susquehanna International Group LLP now owns 68,437 shares of the company’s stock valued at $420,000 after purchasing an additional 58,137 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Virco Manufacturing during the second quarter worth approximately $245,000. BlackRock Inc. acquired a new stake in Virco Manufacturing during the 2nd quarter worth approximately $860,000. Finally, Bank of New York Mellon Corp bought a new stake in Virco Manufacturing in the 2nd quarter valued at $635,000. Institutional investors and hedge funds own 30.97% of the company’s stock.

About Virco Manufacturing

Virco Manufacturing Corporation designs, manufactures and distributes furniture and equipment for educational environments. Its products include classroom chairs and desks, student and activity tables, computer furniture, classroom storage, mobile carts, folding tables and chairs, and related instructional and institutional furnishings.

The company also supplies products for specialized education and institutional settings, including auditorium and cafeteria seating, activity and collaboration furniture, athletic equipment, and other equipment used in schools and public facilities.