State of Tennessee Treasury Department Boosts Position in Viad Corp (VVI)
State of Tennessee Treasury Department increased its stake in shares of Viad Corp (NYSE:VVI) by 17.8% during the first quarter, Holdings Channel reports. The fund owned 18,816 shares of the business services provider’s stock after buying an additional 2,840 shares during the period. State of Tennessee Treasury Department owned 0.09% of Viad Corp worth $850,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of the stock. Wells Fargo & Company MN raised its position in Viad Corp by 11.6% in the first quarter. Wells Fargo & Company MN now owns 660,384 shares of the business services provider’s stock valued at $29,849,000 after buying an additional 68,738 shares during the last quarter. State Street Corp raised its position in Viad Corp by 10.6% in the fourth quarter. State Street Corp now owns 457,375 shares of the business services provider’s stock valued at $20,174,000 after buying an additional 43,834 shares during the last quarter. Bank of New York Mellon Corp raised its position in Viad Corp by 33.8% in the first 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 buying an additional 98,638 shares during the last quarter. Teachers Advisors LLC raised its position in Viad Corp by 3.1% in the fourth quarter. Teachers Advisors LLC now owns 347,478 shares of the business services provider’s stock valued at $15,324,000 after buying an additional 10,557 shares during the last quarter. Finally, Norges Bank bought a new position in Viad Corp during the fourth quarter valued at $14,781,000. Institutional investors own 87.18% of the company’s stock.
Viad Corp (NYSE VVI) opened at 46.15 on Friday. The company has a market cap of $940.49 million, a price-to-earnings ratio of 16.73 and a beta of 0.58. Viad Corp has a 52-week low of $29.50 and a 52-week high of $48.85. The company’s 50-day moving average is $44.54 and its 200 day moving average is $44.87.
Viad Corp (NYSE:VVI) last issued its earnings results on Friday, April 28th. The business services provider reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.16. Viad Corp had a return on equity of 16.45% and a net margin of 4.35%. The business had revenue of $325.81 million during the quarter, compared to analyst estimates of $312.15 million. During the same quarter in the previous year, the firm earned ($0.30) EPS. Viad Corp’s revenue was up 35.0% on a year-over-year basis. Equities analysts forecast that Viad Corp will post $2.46 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Friday, June 2nd will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Wednesday, May 31st. Viad Corp’s dividend payout ratio (DPR) is 14.49%.
Several equities analysts recently weighed in on VVI shares. Zacks Investment Research lowered shares of Viad Corp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 18th. B. Riley restated a “buy” rating and set a $49.25 price target on shares of Viad Corp in a research report on Tuesday, March 14th.
About Viad Corp
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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