Virco Mfg. Co. (NASDAQ:VIRC) Short Interest Update

Virco Mfg. Co. (NASDAQ:VIRC) was the recipient of a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 459,400 shares, a growth of 22.7% from the May 31st total of 374,500 shares. Approximately 3.4% of the shares of the company are sold short. Based on an average daily trading volume, of 183,100 shares, the days-to-cover ratio is presently 2.5 days.

Virco Mfg. Price Performance

Shares of VIRC opened at $13.94 on Monday. The company has a market capitalization of $225.97 million, a price-to-earnings ratio of 8.94 and a beta of 0.67. Virco Mfg. has a fifty-two week low of $3.85 and a fifty-two week high of $17.83. The firm has a 50-day simple moving average of $12.84 and a 200-day simple moving average of $11.61. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.59 and a current ratio of 2.30.

Virco Mfg. (NASDAQ:VIRC) last posted its quarterly earnings data on Friday, June 7th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.26. The company had revenue of $46.74 million during the quarter, compared to analysts’ expectations of $37.70 million. Virco Mfg. had a return on equity of 28.41% and a net margin of 9.07%. On average, equities research analysts anticipate that Virco Mfg. will post 1.86 earnings per share for the current year.

Virco Mfg. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 21st will be paid a $0.02 dividend. The ex-dividend date is Friday, June 21st. This represents a $0.08 annualized dividend and a yield of 0.57%. Virco Mfg.’s dividend payout ratio is currently 5.13%.

Wall Street Analyst Weigh In

VIRC has been the subject of a number of research reports. Wedbush reiterated an “outperform” rating and issued a $19.00 price objective (up previously from $16.00) on shares of Virco Mfg. in a research note on Friday, June 7th. StockNews.com cut shares of Virco Mfg. from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 18th.

Hedge Funds Weigh In On Virco Mfg.

A number of large investors have recently bought and sold shares of the company. Cetera Advisors LLC purchased a new stake in shares of Virco Mfg. in the first quarter valued at about $654,000. Ancora Advisors LLC acquired a new stake in Virco Mfg. in the first quarter valued at about $917,000. Lazard Asset Management LLC boosted its holdings in Virco Mfg. by 115.6% in the 1st quarter. Lazard Asset Management LLC now owns 3,450 shares of the company’s stock valued at $37,000 after purchasing an additional 1,850 shares in the last quarter. O Shaughnessy Asset Management LLC increased its position in Virco Mfg. by 124.7% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 124,642 shares of the company’s stock worth $1,362,000 after purchasing an additional 69,179 shares during the period. Finally, Acadian Asset Management LLC lifted its holdings in shares of Virco Mfg. by 47.1% in the 1st quarter. Acadian Asset Management LLC now owns 260,364 shares of the company’s stock valued at $2,843,000 after buying an additional 83,405 shares during the period. Hedge funds and other institutional investors own 30.97% of the company’s stock.

About Virco Mfg.

Virco Mfg. Corporation engages in the design, production, and distribution of furniture in the United States and Canada. The company offers seating products, including 4-leg chairs, cantilever chairs, mobile task chairs and lab stools, tablet armchairs, steel-frame and floor rockers, series stools, hard plastic seating, folding and upholstered stack chairs, and plastic stack and upholstered ergonomic chairs.