New York State Common Retirement Fund decreased its position in Viad Corp (NYSE:VVI) by 25.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,100 shares of the business services provider’s stock after selling 7,704 shares during the period. New York State Common Retirement Fund owned 0.11% of Viad worth $1,212,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of VVI. Schwab Charles Investment Management Inc. boosted its holdings in Viad by 3.3% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 158,975 shares of the business services provider’s stock worth $8,808,000 after buying an additional 5,036 shares during the last quarter. Teacher Retirement System of Texas bought a new position in Viad during the fourth quarter worth about $389,000. California Public Employees Retirement System boosted its holdings in Viad by 7.0% during the fourth quarter. California Public Employees Retirement System now owns 29,839 shares of the business services provider’s stock worth $1,653,000 after buying an additional 1,940 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Viad by 3.7% during the fourth quarter. Wells Fargo & Company MN now owns 526,425 shares of the business services provider’s stock worth $29,164,000 after buying an additional 18,557 shares during the last quarter. Finally, Arizona State Retirement System boosted its holdings in Viad by 224.4% during the fourth quarter. Arizona State Retirement System now owns 34,303 shares of the business services provider’s stock worth $1,900,000 after buying an additional 23,730 shares during the last quarter. Institutional investors and hedge funds own 87.55% of the company’s stock.
Separately, Zacks Investment Research cut Viad from a “hold” rating to a “sell” rating in a report on Friday, May 4th.
Shares of Viad opened at $54.25 on Friday, according to Marketbeat. The company has a current ratio of 0.59, a quick ratio of 0.54 and a debt-to-equity ratio of 0.12. Viad Corp has a 1 year low of $46.05 and a 1 year high of $61.85. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 20.86 and a beta of 0.63.
Viad (NYSE:VVI) last issued its earnings results on Thursday, April 26th. The business services provider reported ($0.49) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.52) by $0.03. The firm had revenue of $277.43 million for the quarter, compared to analysts’ expectations of $276.48 million. Viad had a return on equity of 8.40% and a net margin of 3.30%. The company’s revenue was down 14.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.33 earnings per share. equities analysts predict that Viad Corp will post 2.75 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 2nd. Stockholders of record on Friday, June 1st will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date is Thursday, May 31st. Viad’s dividend payout ratio is currently 15.27%.
In other Viad news, Director Joshua Schechter purchased 1,000 shares of the company’s stock in a transaction dated Wednesday, May 2nd. The shares were bought at an average price of $50.50 per share, with a total value of $50,500.00. Following the completion of the transaction, the director now directly owns 27,038 shares in the company, valued at approximately $1,365,419. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.00% of the company’s stock.
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. 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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