PNC Financial Services Group Inc. cut its stake in Viad Corp. (NYSE:VVI) by 45.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,093 shares of the company’s stock after selling 4,309 shares during the period. PNC Financial Services Group Inc.’s holdings in Viad Corp. were worth $157,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of VVI. Contravisory Investment Management Inc. purchased a new stake in Viad Corp. during the second quarter valued at about $138,000. BNP Paribas Arbitrage SA raised its stake in Viad Corp. by 112.3% in the second quarter. BNP Paribas Arbitrage SA now owns 6,319 shares of the company’s stock valued at $196,000 after buying an additional 3,342 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in Viad Corp. by 1.1% in the second quarter. Louisiana State Employees Retirement System now owns 9,000 shares of the company’s stock valued at $279,000 after buying an additional 100 shares during the last quarter. KBC Group NV raised its stake in Viad Corp. by 71.3% in the second quarter. KBC Group NV now owns 9,024 shares of the company’s stock valued at $280,000 after buying an additional 3,755 shares during the last quarter. Finally, 1st Global Advisors Inc. raised its stake in Viad Corp. by 0.6% in the second quarter. 1st Global Advisors Inc. now owns 9,236 shares of the company’s stock valued at $286,000 after buying an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 88.32% of the company’s stock.
Shares of Viad Corp. (NYSE:VVI) traded down 1.92% during midday trading on Friday, hitting $35.26. 69,719 shares of the stock were exchanged. The stock has a market cap of $715.25 million, a P/E ratio of 38.08 and a beta of 0.93. Viad Corp. has a 52-week low of $25.90 and a 52-week high of $37.85. The firm’s 50 day moving average price is $36.27 and its 200-day moving average price is $32.61.
Viad Corp. (NYSE:VVI) last released its quarterly earnings data on Thursday, July 28th. The company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.82 by $0.22. Viad Corp. had a return on equity of 6.77% and a net margin of 1.75%. The company earned $324.70 million during the quarter, compared to the consensus estimate of $304.90 million. During the same period last year, the company earned $1.18 EPS. Viad Corp.’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, equities research analysts expect that Viad Corp. will post $2.28 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Friday, September 9th were issued a $0.10 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $0.40 annualized dividend and a yield of 1.13%. Viad Corp.’s payout ratio is 43.48%.
Several research firms have recently issued reports on VVI. B. Riley reiterated a “buy” rating and issued a $39.25 target price on shares of Viad Corp. in a research note on Wednesday, July 27th. Zacks Investment Research upgraded shares of Viad Corp. from a “hold” rating to a “strong-buy” rating and set a $43.00 price target for the company in a research report on Thursday, September 29th.
In related news, Director Robert E. Munzenrider sold 2,000 shares of Viad Corp. stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $35.87, for a total value of $71,740.00. Following the completion of the sale, the director now directly owns 22,106 shares in the company, valued at approximately $792,942.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.10% of the stock is owned by corporate insiders.
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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