Global Retirement Partners LLC acquired a new stake in Viad Corp. (NYSE:VVI) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 800 shares of the business services provider’s stock, valued at approximately $33,000.
Several other hedge funds have also made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Viad by 5.1% in the 4th quarter. BlackRock Inc. now owns 3,197,378 shares of the business services provider’s stock valued at $115,648,000 after buying an additional 156,227 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Viad by 26.2% during the 4th quarter. Victory Capital Management Inc. now owns 1,505,865 shares of the business services provider’s stock worth $54,467,000 after acquiring an additional 312,659 shares during the last quarter. SummerHaven Investment Management LLC bought a new position in shares of Viad in the 4th quarter valued at about $925,000. 59 North Capital Management LP acquired a new stake in Viad during the 4th quarter worth approximately $27,254,000. Finally, Eaton Vance Management acquired a new stake in Viad during the 4th quarter worth approximately $16,326,000. Institutional investors own 88.33% of the company’s stock.
In related news, CFO Ellen M. Ingersoll sold 10,000 shares of the stock in a transaction on Monday, March 8th. The stock was sold at an average price of $45.91, for a total value of $459,100.00. Following the completion of the sale, the chief financial officer now directly owns 32,055 shares of the company’s stock, valued at approximately $1,471,645.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Andrew B. Benett purchased 1,340 shares of the stock in a transaction that occurred on Thursday, February 18th. The stock was bought at an average cost of $37.91 per share, with a total value of $50,799.40. Following the completion of the transaction, the director now directly owns 19,997 shares in the company, valued at approximately $758,086.27. The disclosure for this purchase can be found here. Corporate insiders own 1.70% of the company’s stock.
Shares of VVI opened at $39.43 on Wednesday. Viad Corp. has a 12-month low of $13.86 and a 12-month high of $46.44. The business’s fifty day moving average is $42.22 and its 200 day moving average is $34.22. The company has a quick ratio of 1.81, a current ratio of 1.97 and a debt-to-equity ratio of 2.09. The stock has a market cap of $807.45 million, a P/E ratio of -4.15 and a beta of 1.58.
Viad (NYSE:VVI) last issued its earnings results on Wednesday, February 10th. The business services provider reported ($2.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.70) by ($0.41). Viad had a negative return on equity of 6.87% and a negative net margin of 18.75%. The firm had revenue of $27.90 million during the quarter, compared to the consensus estimate of $21.90 million. On average, analysts expect that Viad Corp. will post -6.2 EPS for the current year.
Viad Corp operates as an experiential services company in the United States, Canada, the United Kingdom, continental Europe, the United Arab Emirates, and Iceland. It operates through three segments: GES North America, GES EMEA, and Pursuit. The company offers event accommodation solutions, including researching and selection of local hotels, negotiating and contracting, room block management, group reservation management, rate integrity and monitoring, marketing, on-site, and post-event reporting; and registration and data analytics comprising registration and ticketing, lead management, reporting and analytics, web-based enterprise-wide application, and software-as-a-service model or partial and fully managed options.
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