State Board of Administration of Florida Retirement System boosted its stake in shares of Viad Corp. (NYSE:VVI) by 0.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 16,771 shares of the company’s stock after buying an additional 119 shares during the period. State Board of Administration of Florida Retirement System owned about 0.08% of Viad Corp. worth $520,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the stock. Contravisory Investment Management Inc. bought a new position in Viad Corp. during the second quarter worth about $138,000. BNP Paribas Arbitrage SA boosted its position in Viad Corp. by 112.3% in the second quarter. BNP Paribas Arbitrage SA now owns 6,319 shares of the company’s stock worth $196,000 after buying an additional 3,342 shares in the last quarter. Arizona State Retirement System boosted its position in Viad Corp. by 3.0% in the first quarter. Arizona State Retirement System now owns 10,273 shares of the company’s stock worth $300,000 after buying an additional 300 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its position in Viad Corp. by 20.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 16,594 shares of the company’s stock worth $484,000 after buying an additional 2,831 shares in the last quarter. Finally, HBK Investments L P boosted its position in Viad Corp. by 24.4% in the first quarter. HBK Investments L P now owns 42,310 shares of the company’s stock worth $1,234,000 after buying an additional 8,310 shares in the last quarter. Institutional investors own 88.32% of the company’s stock.
Viad Corp. (NYSE:VVI) traded down 0.36% during midday trading on Thursday, reaching $35.94. 34,318 shares of the company’s stock were exchanged. The stock has a market cap of $729.04 million, a PE ratio of 38.81 and a beta of 0.93. The firm has a 50 day moving average of $36.29 and a 200-day moving average of $32.54. Viad Corp. has a 12 month low of $25.90 and a 12 month high of $37.85.
Viad Corp. (NYSE:VVI) last issued its earnings results on Thursday, July 28th. The company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.22. The firm earned $324.70 million during the quarter, compared to analyst estimates of $304.90 million. Viad Corp. had a net margin of 1.75% and a return on equity of 6.77%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the business earned $1.18 earnings per share. On average, equities research analysts predict that Viad Corp. will post $2.28 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Friday, September 9th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $0.40 dividend on an annualized basis and a yield of 1.11%. Viad Corp.’s dividend payout ratio is presently 43.48%.
VVI has been the subject of a number of research analyst reports. Zacks Investment Research upgraded shares of Viad Corp. from a “hold” rating to a “strong-buy” rating and set a $43.00 price objective for the company in a research report on Thursday, September 29th. B. Riley reiterated a “buy” rating and set a $42.00 price objective on shares of Viad Corp. in a research report on Wednesday, August 17th.
In other Viad Corp. news, Director Robert E. Munzenrider sold 2,000 shares of the stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $35.87, for a total transaction of $71,740.00. Following the completion of the transaction, the director now owns 22,106 shares in the company, valued at $792,942.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.10% of the company’s stock.
Viad Corp. Company Profile
Viad Corp is an international experiential services company. The Company has operations in the United States, Canada, the United Kingdom, continental Europe and the United Arab Emirates. The Company conducts its operations through three business segments: the Marketing & Events U.S. Segment (U.S. Segment), the Marketing & Events International Segment (the International Segment) (collectively, the Marketing & Events Group), and the Travel & Recreation Group.
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