Virco Mfg. Co. (NASDAQ:VIRC) Sees Large Drop in Short Interest

Virco Mfg. Co. (NASDAQ:VIRC – Get Rating) was the target of a large decline in short interest in the month of May. As of May 15th, there was short interest totalling 5,600 shares, a decline of 45.6% from the April 30th total of 10,300 shares. Based on an average daily volume of 19,300 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.1% of the company’s stock are sold short.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Minerva Advisors LLC grew its holdings in Virco Mfg. by 0.4% in the 4th quarter. Minerva Advisors LLC now owns 928,941 shares of the company’s stock valued at $4,198,000 after buying an additional 3,249 shares in the last quarter. Vanguard Group Inc. grew its holdings in Virco Mfg. by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 195,140 shares of the company’s stock valued at $583,000 after buying an additional 4,333 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Virco Mfg. by 1.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 421,301 shares of the company’s stock worth $1,794,000 after purchasing an additional 5,324 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Virco Mfg. by 3.6% during the 4th quarter. Renaissance Technologies LLC now owns 168,630 shares of the company’s stock worth $762,000 after purchasing an additional 5,902 shares in the last quarter. Finally, D.A. Davidson & CO. grew its holdings in shares of Virco Mfg. by 0.8% during the 3rd quarter. D.A. Davidson & CO. now owns 827,862 shares of the company’s stock worth $3,531,000 after purchasing an additional 6,713 shares in the last quarter. 19.02% of the stock is owned by institutional investors and hedge funds.

Virco Mfg. Price Performance

Shares of VIRC opened at $3.82 on Friday. The firm has a market capitalization of $61.92 million, a PE ratio of 3.78 and a beta of 0.84. The stock has a 50 day simple moving average of $3.97 and a 200 day simple moving average of $4.29. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.45 and a current ratio of 1.84. Virco Mfg. has a 52-week low of $2.90 and a 52-week high of $5.07.

Virco Mfg. Company Profile

(Get Rating)

Virco Manufacturing Corp. engages in the design, production and distribution of furniture. Its products include mobile tables, mobile storage equipment, desks, computer furniture, chairs, folding chairs and folding tables. The company was founded in February 1950 and is headquartered in Torrance, CA.