Shell Asset Management Co. Reduces Stake in Visteon Corp (VC)
Shell Asset Management Co. lessened its position in Visteon Corp (NYSE:VC) by 38.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,817 shares of the auto parts company’s stock after selling 3,002 shares during the period. Shell Asset Management Co.’s holdings in Visteon were worth $447,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Tygh Capital Management Inc. raised its stake in shares of Visteon by 0.8% in the 2nd quarter. Tygh Capital Management Inc. now owns 54,927 shares of the auto parts company’s stock worth $7,099,000 after buying an additional 421 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Visteon by 37.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,960 shares of the auto parts company’s stock worth $252,000 after buying an additional 531 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of Visteon by 27.6% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,463 shares of the auto parts company’s stock worth $318,000 after buying an additional 532 shares in the last quarter. Moneta Group Investment Advisors LLC raised its stake in shares of Visteon by 92.9% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 1,640 shares of the auto parts company’s stock worth $212,000 after buying an additional 790 shares in the last quarter. Finally, Creative Planning raised its stake in shares of Visteon by 31.5% in the 3rd quarter. Creative Planning now owns 3,461 shares of the auto parts company’s stock worth $322,000 after buying an additional 829 shares in the last quarter.
In other Visteon news, Director Harry James Wilson purchased 5,000 shares of the stock in a transaction dated Wednesday, October 31st. The shares were acquired at an average price of $76.95 per share, for a total transaction of $384,750.00. Following the completion of the acquisition, the director now owns 2,000 shares of the company’s stock, valued at approximately $153,900. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Manzo purchased 1,000 shares of the stock in a transaction dated Monday, October 29th. The shares were acquired at an average price of $77.37 per share, for a total transaction of $77,370.00. Following the acquisition, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $154,740. The disclosure for this purchase can be found here. Insiders have bought 9,000 shares of company stock worth $691,270 in the last quarter. 0.19% of the stock is currently owned by corporate insiders.
Visteon (NYSE:VC) last issued its quarterly earnings results on Thursday, October 25th. The auto parts company reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.03). The firm had revenue of $681.00 million during the quarter, compared to analyst estimates of $727.48 million.
VC has been the topic of a number of recent research reports. Wells Fargo & Co restated a “market perform” rating and issued a $86.00 target price (down from $123.00) on shares of Visteon in a report on Wednesday, October 17th. Wolfe Research initiated coverage on Visteon in a report on Tuesday, October 2nd. They issued a “peer perform” rating on the stock. Morgan Stanley set a $98.00 target price on Visteon and gave the stock a “sell” rating in a report on Monday, August 13th. Raymond James restated a “buy” rating on shares of Visteon in a report on Monday, August 20th. Finally, Consumer Edge initiated coverage on Visteon in a report on Thursday, October 4th. They issued an “outperform” rating and a $130.00 target price on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $128.83.
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Visteon Corporation is a global automotive supplier that designs, engineers and manufactures electronics products for original equipment vehicle manufacturer (OEM), including Ford, Mazda, Nissan/Renault, General Motors, Honda BMW and Daimler. The Company operates through Electronics segment. The Electronics segment provides vehicle cockpit electronics products to customers, including instrument clusters, information displays, infotainment, audio systems, telematics solutions and head up displays.
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