Eaton Vance Management Takes Position in Viad Corp (VVI)
Eaton Vance Management purchased a new position in Viad Corp (NYSE:VVI) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 146,232 shares of the business services provider’s stock, valued at approximately $8,664,000. Eaton Vance Management owned about 0.72% of Viad at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Tower Research Capital LLC TRC boosted its stake in Viad by 395.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,146 shares of the business services provider’s stock worth $224,000 after buying an additional 3,309 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Viad in the 2nd quarter valued at about $235,000. SG Americas Securities LLC acquired a new position in shares of Viad in the 2nd quarter valued at about $314,000. Thompson Siegel & Walmsley LLC acquired a new position in shares of Viad in the 2nd quarter valued at about $326,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Viad in the 2nd quarter valued at about $353,000. 88.11% of the stock is currently owned by hedge funds and other institutional investors.
VVI has been the topic of several research analyst reports. Zacks Investment Research lowered Viad from a “hold” rating to a “sell” rating in a research note on Wednesday, October 17th. Janney Montgomery Scott initiated coverage on Viad in a research note on Thursday, November 15th. They issued a “buy” rating on the stock. Finally, ValuEngine lowered Viad from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd.
Viad (NYSE:VVI) last released its quarterly earnings data on Thursday, October 25th. The business services provider reported $1.72 earnings per share for the quarter, missing the consensus estimate of $1.84 by ($0.12). The firm had revenue of $358.16 million during the quarter, compared to analyst estimates of $381.40 million. Viad had a net margin of 2.34% and a return on equity of 9.90%. Sell-side analysts expect that Viad Corp will post 2.43 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Friday, December 14th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.84%. The ex-dividend date is Thursday, December 13th. Viad’s dividend payout ratio is currently 15.27%.
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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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