Visteon (VC) Shares Up 6.9% After Insider Buying Activity

Shares of Visteon Corp (NYSE:VC) shot up 6.9% on Thursday after an insider bought additional shares in the company. The company traded as high as $85.20 and last traded at $84.47. 1,240,897 shares were traded during mid-day trading, an increase of 149% from the average session volume of 499,007 shares. The stock had previously closed at $79.04.

Specifically, CEO Sachin Lawande sold 2,500 shares of the stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $118.00, for a total value of $295,000.00. Following the completion of the sale, the chief executive officer now directly owns 65,109 shares of the company’s stock, valued at $7,682,862. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Robert R. Vallance sold 850 shares of the stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $116.85, for a total transaction of $99,322.50. Following the completion of the sale, the insider now directly owns 4,414 shares of the company’s stock, valued at $515,775.90. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

VC has been the subject of several research analyst reports. TheStreet cut shares of Visteon from a “b-” rating to a “c” rating in a research note on Thursday, October 25th. Wells Fargo & Co cut their target price on shares of Visteon from $86.00 to $73.00 and set a “market perform” rating for the company in a research note on Friday, October 26th. Consumer Edge initiated coverage on shares of Visteon in a research note on Thursday, October 4th. They set an “outperform” rating and a $130.00 target price for the company. Wolfe Research initiated coverage on shares of Visteon in a research note on Tuesday, October 2nd. They set a “peer perform” rating for the company. Finally, Raymond James reaffirmed a “buy” rating on shares of Visteon in a research note on Monday, August 20th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $134.00.

The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.76 and a current ratio of 1.97.

Visteon (NYSE:VC) last issued its quarterly earnings data on Thursday, October 25th. The auto parts company reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.03). Visteon had a return on equity of 29.13% and a net margin of 4.83%. The business had revenue of $681.00 million during the quarter, compared to analysts’ expectations of $727.48 million. On average, sell-side analysts anticipate that Visteon Corp will post 6.23 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of the business. James Investment Research Inc. bought a new stake in shares of Visteon in the 2nd quarter worth about $147,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Visteon by 189.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,464 shares of the auto parts company’s stock worth $189,000 after acquiring an additional 959 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its holdings in shares of Visteon by 92.9% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 1,640 shares of the auto parts company’s stock worth $212,000 after acquiring an additional 790 shares during the last quarter. Oakbrook Investments LLC bought a new stake in shares of Visteon in the 3rd quarter worth about $214,000. Finally, GSA Capital Partners LLP bought a new stake in shares of Visteon in the 2nd quarter worth about $233,000.

About Visteon (NYSE:VC)

Visteon Corporation is a global automotive supplier that designs, engineers and manufactures electronics products for original equipment vehicle manufacturer (OEM), including Ford, Mazda, Nissan/Renault, General Motors, Honda BMW and Daimler. The Company operates through Electronics segment. The Electronics segment provides vehicle cockpit electronics products to customers, including instrument clusters, information displays, infotainment, audio systems, telematics solutions and head up displays.

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