BNP Paribas Arbitrage SA boosted its holdings in Viad Corp (NYSE:VVI) by 59.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,214 shares of the business services provider’s stock after buying an additional 3,808 shares during the period. BNP Paribas Arbitrage SA owned approximately 0.05% of Viad worth $622,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Arizona State Retirement System lifted its stake in Viad by 0.9% in the second quarter. Arizona State Retirement System now owns 10,673 shares of the business services provider’s stock worth $504,000 after purchasing an additional 100 shares during the last quarter. Rhumbline Advisers raised its stake in Viad by 0.4% in the second quarter. Rhumbline Advisers now owns 41,280 shares of the business services provider’s stock worth $1,950,000 after buying an additional 149 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Viad by 1.0% in the second quarter. The Manufacturers Life Insurance Company now owns 15,409 shares of the business services provider’s stock worth $728,000 after buying an additional 158 shares in the last quarter. Texas Permanent School Fund raised its stake in Viad by 1.2% in the second quarter. Texas Permanent School Fund now owns 14,880 shares of the business services provider’s stock worth $703,000 after buying an additional 177 shares in the last quarter. Finally, Suntrust Banks Inc. raised its stake in Viad by 0.6% in the second quarter. Suntrust Banks Inc. now owns 32,961 shares of the business services provider’s stock worth $1,557,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 86.12% of the company’s stock.
Viad Corp (VVI) traded up $0.90 during trading hours on Friday, hitting $57.15. 179,818 shares of the stock were exchanged, compared to its average volume of 78,269. Viad Corp has a 1 year low of $42.05 and a 1 year high of $61.85. The company has a current ratio of 0.71, a quick ratio of 0.60 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $1,148.15, a PE ratio of 20.31 and a beta of 0.50.
Viad (NYSE:VVI) last issued its quarterly earnings data on Thursday, October 26th. The business services provider reported $1.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.02. The company had revenue of $339.10 million for the quarter, compared to the consensus estimate of $327.59 million. Viad had a net margin of 5.86% and a return on equity of 13.91%. The firm’s revenue for the quarter was down 11.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.74 earnings per share. sell-side analysts forecast that Viad Corp will post 2.59 EPS for the current 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 given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.40 dividend on an annualized basis and a yield of 0.70%. Viad’s dividend payout ratio (DPR) is 10.84%.
In related news, Director Robert E. Munzenrider sold 2,100 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $56.01, for a total transaction of $117,621.00. Following the transaction, the director now owns 21,179 shares in the company, valued at $1,186,235.79. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.00% of the stock is owned by corporate insiders.
Separately, Zacks Investment Research downgraded shares of Viad from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 28th.
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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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