Private Capital Management LLC lifted its position in Visteon Corp (NYSE:VC) by 0.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 348,552 shares of the auto parts company’s stock after buying an additional 2,095 shares during the quarter. Visteon comprises 17.4% of Private Capital Management LLC’s investment portfolio, making the stock its 12th largest holding. Private Capital Management LLC’s holdings in Visteon were worth $23,475,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. RMB Capital Management LLC raised its stake in Visteon by 49.8% during the first quarter. RMB Capital Management LLC now owns 58,194 shares of the auto parts company’s stock worth $3,919,000 after acquiring an additional 19,338 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in Visteon by 6.8% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,325 shares of the auto parts company’s stock worth $291,000 after acquiring an additional 277 shares in the last quarter. Summit Partners Public Asset Management LLC acquired a new position in Visteon during the first quarter worth $11,270,000. Metropolitan Life Insurance Co NY raised its stake in Visteon by 39.9% during the first quarter. Metropolitan Life Insurance Co NY now owns 12,912 shares of the auto parts company’s stock worth $276,000 after acquiring an additional 3,681 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in Visteon by 23.5% during the first quarter. Goldman Sachs Group Inc. now owns 672,249 shares of the auto parts company’s stock worth $45,276,000 after acquiring an additional 127,971 shares in the last quarter.
VC has been the subject of several recent analyst reports. Longbow Research set a $110.00 price objective on Visteon and gave the stock a “buy” rating in a research note on Friday, February 22nd. BMO Capital Markets increased their price objective on Visteon from $91.00 to $103.00 and gave the stock an “outperform” rating in a research note on Monday, February 25th. They noted that the move was a valuation call. Morgan Stanley set a $73.00 price objective on Visteon and gave the stock a “sell” rating in a research note on Tuesday, March 5th. TheStreet upgraded Visteon from a “c” rating to a “b-” rating in a report on Thursday, March 7th. Finally, UBS Group decreased their target price on Visteon from $80.00 to $75.00 and set a “neutral” rating on the stock in a report on Monday, April 1st. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $94.50.
In other news, Director Robert Manzo purchased 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were acquired at an average price of $48.76 per share, for a total transaction of $195,040.00. Following the completion of the acquisition, the director now directly owns 3,000 shares in the company, valued at $146,280. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is owned by company insiders.
Shares of VC stock traded down $0.24 during trading hours on Friday, hitting $52.25. 13,191 shares of the company’s stock were exchanged, compared to its average volume of 624,360. Visteon Corp has a 52 week low of $44.04 and a 52 week high of $139.45.
Visteon (NYSE:VC) last announced its earnings results on Thursday, April 25th. The auto parts company reported $0.53 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.58). The firm had revenue of $737.00 million during the quarter, compared to the consensus estimate of $713.99 million. The business’s revenue was down 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.08 EPS.
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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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