Algert Global LLC acquired a new stake in Viad Corp (NYSE:VVI) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 14,860 shares of the business services provider’s stock, valued at approximately $702,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Viad Corp during the fourth quarter valued at $14,781,000. Teachers Advisors LLC raised its position in shares of Viad Corp by 3.1% in the fourth quarter. Teachers Advisors LLC now owns 347,478 shares of the business services provider’s stock valued at $15,324,000 after buying an additional 10,557 shares during the last quarter. Highbridge Capital Management LLC bought a new position in shares of Viad Corp during the fourth quarter valued at $218,000. Louisiana State Employees Retirement System raised its position in shares of Viad Corp by 1.2% in the first quarter. Louisiana State Employees Retirement System now owns 8,300 shares of the business services provider’s stock valued at $375,000 after buying an additional 100 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its position in shares of Viad Corp by 1.8% in the first quarter. State of Alaska Department of Revenue now owns 2,240 shares of the business services provider’s stock valued at $101,000 after buying an additional 40 shares during the last quarter. Institutional investors and hedge funds own 86.84% of the company’s stock.
Viad Corp (NYSE VVI) opened at 52.05 on Friday. The company has a 50-day moving average of $49.36 and a 200 day moving average of $46.07. Viad Corp has a 12-month low of $34.40 and a 12-month high of $54.75. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 16.42 and a beta of 0.54.
Viad Corp (NYSE:VVI) last announced its quarterly earnings results on Thursday, July 27th. The business services provider reported $1.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.26. The business had revenue of $364.77 million during the quarter, compared to analysts’ expectations of $347.35 million. Viad Corp had a return on equity of 16.76% and a net margin of 4.85%. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.04 EPS. Equities analysts anticipate that Viad Corp will post $2.76 earnings per share for the current year.
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VVI has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Viad Corp from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a report on Thursday, April 13th. BidaskClub upgraded shares of Viad Corp from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th.
Viad Corp Company Profile
Viad Corp is an international experiential services company. The Company operates through two main business groups: GES, which is a live event service provider to some of the visible and influential events and global brands, and Pursuit, which is a collection of destination travel experiences. GES conducts its operations through two geographical segments: GES U.S., which has full-service operations in exhibition market in the United States, including Las Vegas, Nevada; Chicago, Illinois; Orlando, Florida; New York, New York, and Los Angeles, California, and GES International, which had full-service operations at many of the event destinations and venues.
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