Viad Corp (VVI) Holdings Lessened by Hartford Investment Management Co.
Hartford Investment Management Co. trimmed its holdings in Viad Corp (NYSE:VVI) by 8.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 120,470 shares of the business services provider’s stock after selling 11,190 shares during the period. Hartford Investment Management Co. owned about 0.59% of Viad worth $7,337,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in VVI. Acrospire Investment Management LLC acquired a new position in shares of Viad in the 2nd quarter valued at approximately $107,000. SG Americas Securities LLC bought a new stake in shares of Viad in the 2nd quarter valued at approximately $120,000. State of Alaska Department of Revenue increased its holdings in shares of Viad by 79.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 4,020 shares of the business services provider’s stock valued at $189,000 after acquiring an additional 1,780 shares during the last quarter. Piedmont Investment Advisors LLC bought a new stake in shares of Viad in the 2nd quarter valued at approximately $208,000. Finally, Emerald Mutual Fund Advisers Trust bought a new stake in shares of Viad in the 3rd quarter valued at approximately $215,000. 86.12% of the stock is currently owned by institutional investors.
In related news, Director Robert E. Munzenrider sold 2,100 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $56.01, for a total transaction of $117,621.00. Following the completion of the transaction, the director now directly owns 21,179 shares in the company, valued at approximately $1,186,235.79. The sale was disclosed in a document filed with the SEC, which is available through this link. 2.00% of the stock is owned by corporate insiders.
Separately, Zacks Investment Research downgraded Viad from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 28th.
Shares of Viad Corp (VVI) remained flat at $$57.60 on Friday. The company’s stock had a trading volume of 63,204 shares, compared to its average volume of 75,676. The stock has a market capitalization of $1,175.70, a P/E ratio of 20.79 and a beta of 0.50. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.60 and a current ratio of 0.71. Viad Corp has a 12 month low of $42.05 and a 12 month high of $61.85.
Viad (NYSE:VVI) last issued its quarterly earnings data on Thursday, October 26th. The business services provider reported $1.33 EPS for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.02. The firm had revenue of $339.10 million during the quarter, compared to the consensus estimate of $327.59 million. Viad had a return on equity of 13.91% and a net margin of 5.86%. The firm’s revenue was down 11.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.74 EPS. research analysts anticipate that Viad Corp will post 2.59 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.40 dividend on an annualized basis and a yield of 0.69%. Viad’s payout ratio is currently 10.84%.
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Viad Company 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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