Suntrust Banks Inc. Acquires 200 Shares of Viad Corp (VVI)
Suntrust Banks Inc. grew its holdings in Viad Corp (NYSE:VVI) by 0.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,961 shares of the business services provider’s stock after acquiring an additional 200 shares during the period. Suntrust Banks Inc. owned 0.16% of Viad Corp worth $1,557,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Viad Corp by 68,605.4% during the 1st quarter. BlackRock Inc. now owns 2,476,143 shares of the business services provider’s stock worth $111,922,000 after purchasing an additional 2,472,539 shares during the last quarter. FMR LLC bought a new position in shares of Viad Corp during the 1st quarter valued at $21,696,000. TimesSquare Capital Management LLC acquired a new stake in shares of Viad Corp in the 2nd quarter valued at $9,442,000. Bank of New York Mellon Corp lifted its stake in shares of Viad Corp by 33.8% in the 1st quarter. Bank of New York Mellon Corp now owns 390,385 shares of the business services provider’s stock valued at $17,644,000 after purchasing an additional 98,638 shares during the last quarter. Finally, Kennedy Capital Management Inc. lifted its stake in shares of Viad Corp by 65.7% in the 2nd quarter. Kennedy Capital Management Inc. now owns 166,780 shares of the business services provider’s stock valued at $7,880,000 after purchasing an additional 66,131 shares during the last quarter. 86.09% of the stock is owned by institutional investors.
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Viad Corp from a “hold” rating to a “strong-buy” rating and set a $57.00 price objective for the company in a report on Saturday, July 29th. BidaskClub raised shares of Viad Corp from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th.
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Viad Corp (VVI) opened at 61.05 on Tuesday. The stock’s 50 day moving average price is $55.68 and its 200-day moving average price is $48.69. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of 19.26 and a beta of 0.52. Viad Corp has a one year low of $34.40 and a one year high of $61.65.
Viad Corp (NYSE:VVI) last issued its quarterly earnings results on Thursday, July 27th. The business services provider reported $1.22 EPS for the quarter, topping the consensus estimate of $0.96 by $0.26. Viad Corp had a net margin of 4.85% and a return on equity of 16.76%. The firm had revenue of $364.77 million for the quarter, compared to analysts’ expectations of $347.35 million. During the same period in the previous year, the firm posted $1.04 EPS. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. Analysts forecast that Viad Corp will post $2.76 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 8th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.66%. The ex-dividend date was Thursday, September 7th. Viad Corp’s payout ratio is 12.62%.
Viad Corp Profile
Viad Corp is an international experiential services company. The Company operates through two main business groups: GES, which is a live event service provider to some of the visible and influential events and global brands, and Pursuit, which is a collection of destination travel experiences. GES conducts its operations through two geographical segments: GES U.S., which has full-service operations in exhibition market in the United States, including Las Vegas, Nevada; Chicago, Illinois; Orlando, Florida; New York, New York, and Los Angeles, California, and GES International, which had full-service operations at many of the event destinations and venues.
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