Visa Inc (NYSE:V) Sees Large Decline in Short Interest

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Visa Inc (NYSE:V) saw a large drop in short interest in the month of June. As of June 30th, there was short interest totalling 27,976,900 shares, a drop of 8.8% from the May 30th total of 30,687,500 shares. Based on an average daily trading volume, of 6,930,000 shares, the short-interest ratio is currently 4.0 days. Approximately 1.6% of the company’s shares are sold short.

In other news, EVP William M. Sheedy sold 75,676 shares of Visa stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $165.24, for a total value of $12,504,702.24. Following the completion of the sale, the executive vice president now directly owns 300,114 shares of the company’s stock, valued at approximately $49,590,837.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.17% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of the business. 6 Meridian boosted its holdings in Visa by 0.5% in the 4th quarter. 6 Meridian now owns 46,549 shares of the credit-card processor’s stock worth $6,142,000 after acquiring an additional 243 shares during the period. BKD Wealth Advisors LLC boosted its holdings in Visa by 1.5% in the 4th quarter. BKD Wealth Advisors LLC now owns 11,229 shares of the credit-card processor’s stock worth $1,482,000 after acquiring an additional 167 shares during the period. RNC Capital Management LLC boosted its holdings in Visa by 6.3% in the 4th quarter. RNC Capital Management LLC now owns 5,269 shares of the credit-card processor’s stock worth $695,000 after acquiring an additional 312 shares during the period. TrimTabs Asset Management LLC purchased a new position in Visa in the 4th quarter worth approximately $1,312,000. Finally, Saratoga Research & Investment Management boosted its holdings in Visa by 5.6% in the 4th quarter. Saratoga Research & Investment Management now owns 6,249 shares of the credit-card processor’s stock worth $824,000 after acquiring an additional 330 shares during the period. Hedge funds and other institutional investors own 80.99% of the company’s stock.

V has been the subject of a number of analyst reports. Nomura lifted their price objective on Visa from $175.00 to $178.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Zacks Investment Research cut Zai Lab from a “buy” rating to a “hold” rating in a research note on Saturday, June 15th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $71.00 price objective on shares of ExlService in a research note on Sunday, April 28th. Oppenheimer set a $119.00 price objective on American Express and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Finally, Morgan Stanley lifted their price objective on Visa from $175.00 to $191.00 and gave the stock an “overweight” rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $183.43.

V stock traded up $0.01 during midday trading on Monday, hitting $180.34. 78,961 shares of the company’s stock were exchanged, compared to its average volume of 6,599,166. The stock’s fifty day moving average is $170.22. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.62 and a current ratio of 1.62. The company has a market cap of $359.95 billion, a P/E ratio of 39.13, a PEG ratio of 2.04 and a beta of 0.96. Visa has a one year low of $121.60 and a one year high of $181.35.

Visa (NYSE:V) last posted its earnings results on Wednesday, April 24th. The credit-card processor reported $1.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.07. The firm had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.46 billion. Visa had a return on equity of 40.56% and a net margin of 51.34%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.11 earnings per share. On average, analysts predict that Visa will post 5.37 earnings per share for the current fiscal year.

Visa Company Profile

Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.

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