Viad Corp (VVI) Stake Lessened by Allianz Asset Management GmbH
Allianz Asset Management GmbH decreased its position in Viad Corp (NYSE:VVI) by 3.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 175,466 shares of the business services provider’s stock after selling 6,861 shares during the period. Allianz Asset Management GmbH owned about 0.86% of Viad worth $10,686,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of the company. OxFORD Asset Management LLP purchased a new stake in Viad in the third quarter worth $713,000. Schwab Charles Investment Management Inc. lifted its stake in Viad by 1.7% in the third quarter. Schwab Charles Investment Management Inc. now owns 153,939 shares of the business services provider’s stock worth $9,375,000 after acquiring an additional 2,523 shares during the period. Teachers Retirement System of The State of Kentucky lifted its stake in Viad by 149.6% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 28,205 shares of the business services provider’s stock worth $1,718,000 after acquiring an additional 16,905 shares during the period. TimesSquare Capital Management LLC lifted its stake in Viad by 103.1% in the third quarter. TimesSquare Capital Management LLC now owns 405,840 shares of the business services provider’s stock worth $24,716,000 after acquiring an additional 206,000 shares during the period. Finally, Rothschild Asset Management Inc. lifted its stake in Viad by 0.8% in the third quarter. Rothschild Asset Management Inc. now owns 200,163 shares of the business services provider’s stock worth $12,190,000 after acquiring an additional 1,508 shares during the period. Hedge funds and other institutional investors own 86.12% of the company’s stock.
Separately, Zacks Investment Research lowered Viad from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 28th.
Shares of Viad Corp (VVI) traded up $0.90 during mid-day trading on Friday, reaching $57.15. The company had a trading volume of 179,818 shares, compared to its average volume of 78,269. The stock has a market capitalization of $1,148.15, a price-to-earnings ratio of 20.31 and a beta of 0.50. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.71 and a quick ratio of 0.60. Viad Corp has a 12 month low of $42.05 and a 12 month high of $61.85.
Viad (NYSE:VVI) last released its quarterly earnings results on Thursday, October 26th. The business services provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.02. The business had revenue of $339.10 million for the quarter, compared to analysts’ expectations of $327.59 million. Viad had a return on equity of 13.91% and a net margin of 5.86%. The company’s revenue was down 11.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.74 EPS. research analysts predict that Viad Corp will post 2.59 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date is Thursday, December 14th. Viad’s dividend payout ratio is currently 10.84%.
In related news, Director Robert E. Munzenrider sold 2,100 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $56.01, for a total value of $117,621.00. Following the sale, the director now owns 21,179 shares in the company, valued at approximately $1,186,235.79. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.00% of the company’s stock.
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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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