Citadel Advisors LLC raised its holdings in shares of Viad Corp (NYSE:VVI) by 86.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,237 shares of the business services provider’s stock after buying an additional 9,361 shares during the period. Citadel Advisors LLC owned about 0.10% of Viad worth $1,097,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in VVI. BlackRock Inc. boosted its holdings in shares of Viad by 8.3% in the second quarter. BlackRock Inc. now owns 2,858,310 shares of the business services provider’s stock valued at $155,062,000 after purchasing an additional 218,878 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Viad by 17.7% in the second quarter. Victory Capital Management Inc. now owns 980,128 shares of the business services provider’s stock valued at $53,172,000 after purchasing an additional 147,329 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Viad by 5.9% in the second quarter. Wells Fargo & Company MN now owns 607,128 shares of the business services provider’s stock valued at $32,938,000 after purchasing an additional 34,029 shares during the period. Ceredex Value Advisors LLC purchased a new stake in shares of Viad in the first quarter valued at approximately $26,369,000. Finally, Northern Trust Corp boosted its holdings in shares of Viad by 0.3% in the first quarter. Northern Trust Corp now owns 360,797 shares of the business services provider’s stock valued at $18,924,000 after purchasing an additional 1,132 shares during the period. Institutional investors and hedge funds own 89.90% of the company’s stock.
Shares of NYSE VVI traded down $0.75 during trading hours on Friday, reaching $56.65. The stock had a trading volume of 60,327 shares, compared to its average volume of 84,496. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.59 and a current ratio of 0.64. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 21.62 and a beta of 0.64. Viad Corp has a 52-week low of $49.20 and a 52-week high of $62.50.
Viad (NYSE:VVI) last posted its earnings results on Thursday, July 26th. The business services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.09. The company had revenue of $363.70 million during the quarter, compared to analyst estimates of $360.75 million. Viad had a return on equity of 8.20% and a net margin of 2.95%. Viad’s revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.22 earnings per share. Analysts forecast that Viad Corp will post 2.69 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Friday, September 7th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, September 6th. This represents a $0.40 dividend on an annualized basis and a yield of 0.71%. Viad’s dividend payout ratio is currently 15.27%.
VVI has been the subject of a number of research reports. Northcoast Research reiterated a “neutral” rating on shares of Viad in a report on Friday, July 27th. ValuEngine lowered Viad from a “buy” rating to a “hold” rating in a report on Tuesday.
Viad Corp operates as an experiential services company in the United States, Canada, the United Kingdom, continental Europe, and the United Arab Emirates. The company operates in two business groups, GES and Pursuit. It 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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