Victory Capital Management Inc. Sells 55,020 Shares of Viad Corp (NYSE:VVI)

Victory Capital Management Inc. reduced its stake in Viad Corp (NYSE:VVI) by 3.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,772,825 shares of the business services provider’s stock after selling 55,020 shares during the quarter. Victory Capital Management Inc. owned about 8.39% of Viad worth $60,276,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Rhumbline Advisers boosted its holdings in Viad by 0.6% in the second quarter. Rhumbline Advisers now owns 61,437 shares of the business services provider’s stock worth $2,089,000 after acquiring an additional 375 shares in the last quarter. Panagora Asset Management Inc. boosted its stake in Viad by 20.4% in the 2nd quarter. Panagora Asset Management Inc. now owns 102,484 shares of the business services provider’s stock worth $3,484,000 after purchasing an additional 17,399 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. grew its position in Viad by 1.3% during the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 111,650 shares of the business services provider’s stock valued at $3,796,000 after purchasing an additional 1,465 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Viad by 63.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,483 shares of the business services provider’s stock valued at $152,000 after purchasing an additional 1,748 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Viad by 1.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,345,832 shares of the business services provider’s stock valued at $45,758,000 after purchasing an additional 20,209 shares in the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Viad Trading Down 2.7 %

Shares of VVI stock opened at $32.36 on Monday. The stock has a market capitalization of $683.70 million, a P/E ratio of -85.16, a P/E/G ratio of 2.09 and a beta of 2.04. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 3.73. The firm’s 50 day moving average is $34.02 and its 200 day moving average is $34.95. Viad Corp has a 12-month low of $22.88 and a 12-month high of $40.27.

Viad (NYSE:VVI) last issued its quarterly earnings data on Tuesday, August 6th. The business services provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.77 by $0.20. Viad had a return on equity of 29.43% and a net margin of 2.30%. The company had revenue of $378.54 million during the quarter, compared to analyst estimates of $358.72 million. During the same quarter in the previous year, the company posted $0.36 earnings per share. Research analysts expect that Viad Corp will post 1.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on VVI shares. Oppenheimer reiterated an “outperform” rating and set a $41.00 price target (down previously from $43.00) on shares of Viad in a report on Friday, August 9th. B. Riley restated a “buy” rating and issued a $42.00 price target (down previously from $46.00) on shares of Viad in a research note on Monday, August 12th. Finally, StockNews.com raised Viad from a “sell” rating to a “hold” rating in a research report on Wednesday, August 7th.

About Viad

Viad Corp provides hospitality, leisure activities, experiential marketing, and live events in the United States, Canada, Europe, the Middle East, and Africa. It operates in three segments: Pursuit, Spiro, and GES Exhibitions. The Pursuit segment offers recreational attractions, hotels and lodges, food and beverage, retail, sightseeing, and ground transportation services.