Viad Corp (NYSE:VVI) was the recipient of a significant growth in short interest during the month of June. As of June 30th, there was short interest totalling 387,700 shares, a growth of 33.2% from the May 30th total of 291,100 shares. Based on an average daily volume of 115,600 shares, the short-interest ratio is currently 3.4 days. Approximately 2.0% of the company’s stock are sold short.
Several equities analysts have recently issued reports on the stock. ValuEngine lowered shares of Xylem from a “buy” rating to a “hold” rating in a report on Tuesday, May 14th. Zacks Investment Research lowered shares of Hersha Hospitality Trust from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd.
In other news, Director Robert E. Munzenrider sold 2,000 shares of Viad stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $62.91, for a total transaction of $125,820.00. Following the completion of the transaction, the director now directly owns 21,025 shares in the company, valued at $1,322,682.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Mason Street Advisors LLC raised its holdings in Viad by 2.7% in the 1st quarter. Mason Street Advisors LLC now owns 6,488 shares of the business services provider’s stock worth $365,000 after acquiring an additional 171 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Viad by 2.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,057 shares of the business services provider’s stock worth $504,000 after acquiring an additional 217 shares during the last quarter. Piedmont Investment Advisors Inc. raised its holdings in Viad by 5.2% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 5,093 shares of the business services provider’s stock worth $287,000 after acquiring an additional 253 shares during the last quarter. Rhumbline Advisers raised its holdings in Viad by 0.5% in the 1st quarter. Rhumbline Advisers now owns 59,846 shares of the business services provider’s stock worth $3,369,000 after acquiring an additional 302 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in Viad by 2.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 14,592 shares of the business services provider’s stock worth $731,000 after acquiring an additional 320 shares during the last quarter. Institutional investors own 88.68% of the company’s stock.
VVI stock opened at $69.30 on Friday. The firm’s 50 day simple moving average is $65.35. Viad has a 52-week low of $46.17 and a 52-week high of $69.67. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 29.87 and a beta of 0.70. The company has a quick ratio of 0.48, a current ratio of 0.52 and a debt-to-equity ratio of 0.11.
Viad (NYSE:VVI) last released its earnings results on Thursday, April 25th. The business services provider reported ($0.51) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.76) by $0.25. Viad had a net margin of 3.13% and a return on equity of 10.56%. The firm had revenue of $285.60 million during the quarter, compared to analyst estimates of $272.40 million. During the same period last year, the business earned ($0.49) earnings per share. The business’s revenue was up 3.0% on a year-over-year basis. Analysts forecast that Viad will post 2.6 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 7th were issued a $0.10 dividend. The ex-dividend date was Thursday, June 6th. This represents a $0.40 dividend on an annualized basis and a yield of 0.58%. Viad’s payout ratio is currently 17.09%.
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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