Robert Virtue Acquires 4,300 Shares of Virco Manufacturing (NASDAQ:VIRC) Stock

Virco Manufacturing Corporation (NASDAQ:VIRC) CEO Robert Virtue acquired 4,300 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was acquired at an average price of $6.22 per share, with a total value of $26,746.00. Following the completion of the transaction, the chief executive officer directly owned 506,124 shares of the company’s stock, valued at approximately $3,148,091.28. This represents a 0.86% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Virco Manufacturing Stock Down 1.6%

Virco Manufacturing stock opened at $6.20 on Wednesday. The stock has a market capitalization of $97.53 million, a PE ratio of -103.32 and a beta of 0.21. Virco Manufacturing Corporation has a 12 month low of $5.16 and a 12 month high of $9.09. The business has a 50 day simple moving average of $6.02 and a 200-day simple moving average of $6.29. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.71 and a quick ratio of 0.90.

Virco Manufacturing (NASDAQ:VIRC) last posted its quarterly earnings data on Wednesday, June 3rd. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.19). The business had revenue of $30.69 million during the quarter, compared to analysts’ expectations of $27.20 million. Virco Manufacturing had a negative net margin of 0.48% and a negative return on equity of 0.16%.

Virco Manufacturing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 19th will be paid a $0.025 dividend. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $0.10 dividend on an annualized basis and a yield of 1.6%. Virco Manufacturing’s dividend payout ratio (DPR) is currently -166.67%.

Institutional Trading of Virco Manufacturing

Large investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Virco Manufacturing during the third quarter worth approximately $41,000. State of Alaska Department of Revenue purchased a new stake in shares of Virco Manufacturing during the fourth quarter worth approximately $47,000. Barclays PLC increased its position in shares of Virco Manufacturing by 16.4% during the fourth quarter. Barclays PLC now owns 17,665 shares of the company’s stock worth $113,000 after purchasing an additional 2,495 shares in the last quarter. Park Edge Advisors LLC increased its position in shares of Virco Manufacturing by 12.9% during the fourth quarter. Park Edge Advisors LLC now owns 18,100 shares of the company’s stock worth $116,000 after purchasing an additional 2,072 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Virco Manufacturing during the first quarter worth approximately $186,000. 30.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Freedom Capital lowered shares of Virco Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 4th. Weiss Ratings lowered shares of Virco Manufacturing from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, April 10th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce”.

Virco Manufacturing Company Profile

Virco Manufacturing Corporation (NASDAQ: VIRC) is a leading American manufacturer of furniture, primarily serving the K-12 education market. Headquartered in Torrance, California, the company designs, produces and distributes a comprehensive range of classroom seating, student desks, tables and educational workstations. Over several decades, Virco has built a reputation for durable, cost-effective solutions tailored to the needs of schools, colleges and other institutional customers.

The company’s product portfolio includes molded plastic and wood-seat student chairs, modular and fixed-height desks, multi-purpose tables, computer furniture, laboratory stools and teacher furnishings.