Bailard Inc. Invests $240,000 in Virco Mfg. Co. (NASDAQ:VIRC)

Bailard Inc. purchased a new position in Virco Mfg. Co. (NASDAQ:VIRC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 17,245 shares of the company’s stock, valued at approximately $240,000. Bailard Inc. owned approximately 0.11% of Virco Mfg. as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of VIRC. Lazard Asset Management LLC lifted its holdings in shares of Virco Mfg. by 115.6% during the first 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 during the last quarter. LSV Asset Management purchased a new stake in Virco Mfg. in the 1st quarter worth about $90,000. SG Americas Securities LLC purchased a new stake in Virco Mfg. in the 2nd quarter worth about $127,000. Russell Investments Group Ltd. purchased a new stake in Virco Mfg. in the 4th quarter worth about $160,000. Finally, Park Edge Advisors LLC purchased a new stake in Virco Mfg. in the 1st quarter worth about $257,000. Institutional investors own 30.97% of the company’s stock.

Virco Mfg. Stock Down 4.1 %

VIRC opened at $16.46 on Wednesday. Virco Mfg. Co. has a fifty-two week low of $4.35 and a fifty-two week high of $18.50. The business has a 50-day moving average of $15.46 and a 200-day moving average of $12.77. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.30 and a quick ratio of 0.59. The company has a market capitalization of $266.82 million, a PE ratio of 10.55 and a beta of 0.67.

Virco Mfg. (NASDAQ:VIRC) last posted its quarterly earnings results 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. Virco Mfg. had a return on equity of 28.41% and a net margin of 9.07%. The company had revenue of $46.74 million during the quarter, compared to the consensus estimate of $37.70 million. Equities research analysts forecast that Virco Mfg. Co. will post 1.86 EPS for the current fiscal year.

Virco Mfg. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 21st were paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Friday, June 21st. Virco Mfg.’s dividend payout ratio (DPR) is presently 5.13%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. StockNews.com downgraded Virco Mfg. from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 25th. Wedbush reissued an “outperform” rating and issued a $19.00 price objective (up from $16.00) on shares of Virco Mfg. in a research note on Friday, June 7th.

Virco Mfg. Profile

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.