TimesSquare Capital Management LLC purchased a new position in shares of Viad Corp (NYSE:VVI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 199,840 shares of the business services provider’s stock, valued at approximately $9,442,000. TimesSquare Capital Management LLC owned approximately 0.98% of Viad Corp at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of VVI. Louisiana State Employees Retirement System grew its position in Viad Corp by 1.2% during the first quarter. Louisiana State Employees Retirement System now owns 8,300 shares of the business services provider’s stock worth $375,000 after buying an additional 100 shares in the last quarter. State of Alaska Department of Revenue grew its position in Viad Corp by 1.8% during the first quarter. State of Alaska Department of Revenue now owns 2,240 shares of the business services provider’s stock worth $101,000 after buying an additional 40 shares in the last quarter. Wells Fargo & Company MN grew its position in Viad Corp by 11.6% during the first quarter. Wells Fargo & Company MN now owns 660,384 shares of the business services provider’s stock worth $29,849,000 after buying an additional 68,738 shares in the last quarter. Great West Life Assurance Co. Can grew its position in Viad Corp by 2.8% during the first quarter. Great West Life Assurance Co. Can now owns 27,602 shares of the business services provider’s stock worth $1,244,000 after buying an additional 755 shares in the last quarter. Finally, Capital Fund Management S.A. acquired a new stake in Viad Corp during the first quarter worth approximately $208,000. 86.12% of the stock is currently owned by institutional investors and hedge funds.
Shares of Viad Corp (VVI) opened at 55.05 on Tuesday. Viad Corp has a 1-year low of $34.40 and a 1-year high of $56.00. The firm’s 50-day moving average price is $53.16 and its 200 day moving average price is $47.34. The company has a market capitalization of $1.12 billion, a PE ratio of 17.37 and a beta of 0.50.
Viad Corp (NYSE:VVI) last released its quarterly earnings data on Thursday, July 27th. The business services provider reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.26. Viad Corp had a net margin of 4.85% and a return on equity of 16.76%. The business had revenue of $364.77 million during the quarter, compared to analyst estimates of $347.35 million. During the same period in the previous year, the business earned $1.04 EPS. Viad Corp’s revenue was up 12.3% compared to the same quarter last year. Equities analysts predict that Viad Corp will post $2.76 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.73%. Viad Corp’s dividend payout ratio (DPR) is currently 12.62%.
A number of brokerages recently issued reports on VVI. Zacks Investment Research raised Viad Corp from a “hold” rating to a “strong-buy” rating and set a $57.00 price target on the stock in a research report on Saturday, July 29th. BidaskClub upgraded Viad Corp from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th.
Viad Corp 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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