Dimensional Fund Advisors LP Acquires 45,751 Shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE)

Dimensional Fund Advisors LP boosted its holdings in Virgin Galactic Holdings, Inc. (NYSE:SPCE) by 50.1% in the 4th quarter, HoldingsChannel reports. The firm owned 137,003 shares of the company’s stock after purchasing an additional 45,751 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Virgin Galactic were worth $3,251,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of SPCE. Financial Engines Advisors L.L.C. boosted its position in shares of Virgin Galactic by 5.1% during the 4th quarter. Financial Engines Advisors L.L.C. now owns 10,677 shares of the company’s stock valued at $253,000 after acquiring an additional 522 shares during the last quarter. Truvestments Capital LLC boosted its position in shares of Virgin Galactic by 7.4% during the 4th quarter. Truvestments Capital LLC now owns 10,987 shares of the company’s stock valued at $260,000 after acquiring an additional 757 shares during the last quarter. Focused Wealth Management Inc bought a new position in shares of Virgin Galactic during the 4th quarter valued at approximately $26,000. Alliancebernstein L.P. boosted its position in shares of Virgin Galactic by 6.3% during the 4th quarter. Alliancebernstein L.P. now owns 20,980 shares of the company’s stock valued at $498,000 after acquiring an additional 1,245 shares during the last quarter. Finally, BDO Wealth Advisors LLC bought a new position in shares of Virgin Galactic during the 4th quarter valued at approximately $32,000. Institutional investors and hedge funds own 21.29% of the company’s stock.

In other news, major shareholder Virgin Investments Ltd sold 1,484,000 shares of the stock in a transaction on Wednesday, April 14th. The stock was sold at an average price of $26.86, for a total transaction of $39,860,240.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 14.30% of the stock is currently owned by corporate insiders.

Several analysts recently weighed in on the company. Zacks Investment Research upgraded Virgin Galactic from a “sell” rating to a “hold” rating in a report on Thursday, May 27th. UBS Group upgraded Virgin Galactic from a “neutral” rating to a “buy” rating and decreased their price target for the company from $40.00 to $36.00 in a report on Friday, May 21st. They noted that the move was a valuation call. Truist Securities assumed coverage on Virgin Galactic in a report on Tuesday, March 16th. They set a “buy” rating and a $50.00 price target on the stock. Alembic Global Advisors upgraded Virgin Galactic from a “neutral” rating to an “overweight” rating in a report on Monday, May 24th. They noted that the move was a valuation call. Finally, Sanford C. Bernstein increased their price target on Virgin Galactic from $18.00 to $27.00 and gave the company a “market perform” rating in a report on Monday, May 24th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Virgin Galactic has a consensus rating of “Buy” and an average target price of $34.79.

SPCE opened at $35.41 on Friday. Virgin Galactic Holdings, Inc. has a 12-month low of $14.21 and a 12-month high of $62.80. The stock’s fifty day moving average price is $24.87. The company has a market cap of $8.52 billion, a P/E ratio of -23.61 and a beta of 0.38.

Virgin Galactic (NYSE:SPCE) last posted its quarterly earnings results on Monday, May 10th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.24). During the same period last year, the company earned ($1.86) earnings per share. On average, equities analysts anticipate that Virgin Galactic Holdings, Inc. will post -1.13 earnings per share for the current fiscal year.

Virgin Galactic Company Profile

Virgin Galactic Holdings, Inc, an integrated aerospace company, develops human spaceflight for private individuals and researchers in the United States. It also manufactures air and space vehicles. The company's spaceship operations include commercial human spaceflight, flying commercial research, and development payloads into space.

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Institutional Ownership by Quarter for Virgin Galactic (NYSE:SPCE)

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