Wells Fargo & Company MN grew its position in Viad Corp (NYSE:VVI) by 8.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 718,952 shares of the business services provider’s stock after buying an additional 58,568 shares during the quarter. Wells Fargo & Company MN owned 3.53% of Viad Corp worth $33,971,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in shares of Viad Corp in the second quarter valued at $120,000. Asset Management One Co. Ltd. purchased a new position in shares of Viad Corp in the first quarter valued at $151,000. LS Investment Advisors LLC increased its position in shares of Viad Corp by 374.8% in the first quarter. LS Investment Advisors LLC now owns 3,509 shares of the business services provider’s stock valued at $159,000 after buying an additional 2,770 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of Viad Corp by 79.5% in the second quarter. State of Alaska Department of Revenue now owns 4,020 shares of the business services provider’s stock valued at $189,000 after buying an additional 1,780 shares in the last quarter. Finally, Mason Street Advisors LLC increased its position in shares of Viad Corp by 7.0% in the first quarter. Mason Street Advisors LLC now owns 4,749 shares of the business services provider’s stock valued at $215,000 after buying an additional 311 shares in the last quarter. Institutional investors and hedge funds own 86.09% of the company’s stock.
Shares of Viad Corp (VVI) opened at 57.10 on Thursday. The company’s 50-day moving average price is $54.17 and its 200-day moving average price is $47.78. Viad Corp has a 52-week low of $34.40 and a 52-week high of $57.75. The stock has a market cap of $1.17 billion, a PE ratio of 18.01 and a beta of 0.50.
Viad Corp (NYSE:VVI) last announced its earnings results on Thursday, July 27th. The business services provider reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.26. The company had revenue of $364.77 million for the quarter, compared to analyst estimates of $347.35 million. Viad Corp had a return on equity of 16.76% and a net margin of 4.85%. Viad Corp’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.04 earnings per share. Analysts expect that Viad Corp will post $2.76 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date is Thursday, September 7th. Viad Corp’s dividend payout ratio (DPR) is presently 12.62%.
VVI has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Viad Corp from a “hold” rating to a “strong-buy” rating and set a $57.00 price target for the company in a research report on Saturday, July 29th. BidaskClub upgraded Viad Corp from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th.
Viad Corp 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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