Moab Capital Partners LLC lowered its position in Viad Corp (NYSE:VVI) by 47.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 771,309 shares of the business services provider’s stock after selling 686,348 shares during the quarter. Viad makes up approximately 16.6% of Moab Capital Partners LLC’s portfolio, making the stock its biggest position. Moab Capital Partners LLC owned approximately 3.80% of Viad worth $51,092,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. BlackRock Inc. raised its stake in shares of Viad by 6.0% during the second quarter. BlackRock Inc. now owns 3,220,576 shares of the business services provider’s stock worth $213,330,000 after purchasing an additional 182,633 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Viad by 1.0% during the second quarter. Vanguard Group Inc. now owns 1,310,941 shares of the business services provider’s stock worth $86,836,000 after purchasing an additional 13,153 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Viad by 10.7% during the first quarter. Wells Fargo & Company MN now owns 712,086 shares of the business services provider’s stock worth $40,083,000 after purchasing an additional 68,753 shares during the last quarter. GMT Capital Corp raised its stake in shares of Viad by 24.6% during the first quarter. GMT Capital Corp now owns 692,459 shares of the business services provider’s stock worth $38,979,000 after purchasing an additional 136,664 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Viad by 1.1% during the second quarter. Northern Trust Corp now owns 372,325 shares of the business services provider’s stock worth $24,662,000 after purchasing an additional 4,079 shares during the last quarter. Institutional investors own 88.13% of the company’s stock.
Several equities research analysts have recently commented on the company. ValuEngine cut Viad from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Zacks Investment Research upgraded Viad from a “hold” rating to a “strong-buy” rating and set a $80.00 price target for the company in a research note on Friday, July 19th.
Viad (NYSE:VVI) last released its quarterly earnings data on Thursday, July 25th. The business services provider reported $1.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.37 by $0.07. The firm had revenue of $402.30 million during the quarter, compared to analysts’ expectations of $398.50 million. Viad had a return on equity of 11.24% and a net margin of 2.32%. Viad’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.20 earnings per share. As a group, analysts predict that Viad Corp will post 2.69 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date is Thursday, September 12th. Viad’s payout ratio is currently 17.09%.
In other news, Director Robert E. Munzenrider sold 1,079 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $63.70, for a total value of $68,732.30. Following the transaction, the director now directly owns 19,025 shares in the company, valued at approximately $1,211,892.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert E. Munzenrider sold 921 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $66.02, for a total value of $60,804.42. Following the completion of the transaction, the director now owns 20,104 shares in the company, valued at $1,327,266.08. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.
Viad Company Profile
Viad Corp operates as an experiential services company in the United States, Canada, the United Kingdom, continental Europe, and the United Arab Emirates. It operates in two business groups, GES and Pursuit. The company offers event planning and production, look and feel design, layout and floor plan designs, furnishings and carpet, show traffic analysis, marketing and strategy, electrical distribution, cleaning, plumbing, overhead and booth rigging, and material handling services; and signage products and common area structures.
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