Ritholtz Wealth Management Decreases Stock Position in Virco Manufacturing Corporation $VIRC

Ritholtz Wealth Management lessened its stake in Virco Manufacturing Corporation (NASDAQ:VIRC) by 56.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,960 shares of the company’s stock after selling 27,723 shares during the quarter. Ritholtz Wealth Management’s holdings in Virco Manufacturing were worth $167,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of VIRC. Bastion Asset Management Inc. boosted its holdings in Virco Manufacturing by 65.1% in the 1st quarter. Bastion Asset Management Inc. now owns 258,229 shares of the company’s stock worth $2,443,000 after acquiring an additional 101,796 shares during the period. Inspire Advisors LLC boosted its holdings in Virco Manufacturing by 14.7% in the 1st quarter. Inspire Advisors LLC now owns 47,625 shares of the company’s stock worth $451,000 after acquiring an additional 6,088 shares during the period. Arkadios Wealth Advisors purchased a new position in Virco Manufacturing in the 1st quarter worth approximately $1,112,000. Minerva Advisors LLC boosted its holdings in Virco Manufacturing by 4.1% in the 1st quarter. Minerva Advisors LLC now owns 1,210,455 shares of the company’s stock worth $11,451,000 after acquiring an additional 47,866 shares during the period. Finally, Koss Olinger Consulting LLC raised its position in shares of Virco Manufacturing by 13.8% in the 1st quarter. Koss Olinger Consulting LLC now owns 62,816 shares of the company’s stock valued at $594,000 after purchasing an additional 7,608 shares in the last quarter. Hedge funds and other institutional investors own 30.97% of the company’s stock.

Insider Buying and Selling at Virco Manufacturing

In related news, EVP Douglas A. Virtue bought 13,022 shares of the company’s stock in a transaction on Friday, October 17th. The shares were purchased at an average cost of $7.34 per share, with a total value of $95,581.48. Following the completion of the transaction, the executive vice president directly owned 861,839 shares of the company’s stock, valued at approximately $6,325,898.26. This represents a 1.53% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Robert A. Virtue bought 5,000 shares of the company’s stock in a transaction on Thursday, October 16th. The stock was bought at an average cost of $6.96 per share, for a total transaction of $34,800.00. Following the completion of the transaction, the chief executive officer directly owned 493,324 shares of the company’s stock, valued at $3,433,535.04. This trade represents a 1.02% increase in their ownership of the stock. The disclosure for this purchase can be found here. 18.13% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on VIRC. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Virco Manufacturing in a research report on Wednesday, October 8th. Zacks Research raised Virco Manufacturing to a “hold” rating in a research report on Friday, August 8th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Virco Manufacturing currently has an average rating of “Hold” and a consensus target price of $17.00.

Virco Manufacturing Stock Performance

VIRC stock opened at $7.40 on Wednesday. The company has a current ratio of 2.96, a quick ratio of 1.38 and a debt-to-equity ratio of 0.03. The firm has a market cap of $116.62 million, a P/E ratio of 8.51 and a beta of 0.36. Virco Manufacturing Corporation has a 12-month low of $6.65 and a 12-month high of $17.31. The stock’s 50 day simple moving average is $7.89 and its 200 day simple moving average is $8.32.

Virco Manufacturing (NASDAQ:VIRC) last posted its quarterly earnings results on Friday, September 5th. The company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.14). The firm had revenue of $92.09 million for the quarter, compared to analyst estimates of $113.80 million. Virco Manufacturing had a net margin of 5.74% and a return on equity of 12.04%. As a group, equities research analysts predict that Virco Manufacturing Corporation will post 1.54 EPS for the current year.

Virco Manufacturing Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Friday, September 19th were given a $0.025 dividend. The ex-dividend date of this dividend was Friday, September 19th. This represents a $0.10 annualized dividend and a yield of 1.4%. Virco Manufacturing’s dividend payout ratio (DPR) is currently 11.49%.

Virco Manufacturing Profile

Virco Mfg. Corporation engages in the design, production, and distribution of furniture in the United States and Canada. The company offers seating products, including 4-leg chairs, cantilever chairs, mobile task chairs and lab stools, tablet armchairs, steel-frame and floor rockers, series stools, hard plastic seating, folding and upholstered stack chairs, and plastic stack and upholstered ergonomic chairs.