Magnetar Financial LLC Grows Position in Visteon Co. (NASDAQ:VC)

Magnetar Financial LLC boosted its stake in Visteon Co. (NASDAQ:VC) by 165.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 21,715 shares of the company’s stock after buying an additional 13,530 shares during the quarter. Magnetar Financial LLC’s holdings in Visteon were worth $1,927,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nordea Investment Management AB purchased a new stake in Visteon in the 4th quarter valued at $7,730,000. Mirabella Financial Services LLP raised its position in Visteon by 361.3% in the 3rd quarter. Mirabella Financial Services LLP now owns 17,096 shares of the company’s stock valued at $1,628,000 after buying an additional 13,390 shares during the last quarter. Systematic Financial Management LP grew its stake in Visteon by 11.8% in the 3rd quarter. Systematic Financial Management LP now owns 259,641 shares of the company’s stock valued at $24,728,000 after purchasing an additional 27,403 shares during the period. Intech Investment Management LLC grew its stake in Visteon by 205.9% in the 3rd quarter. Intech Investment Management LLC now owns 12,853 shares of the company’s stock valued at $1,224,000 after purchasing an additional 8,651 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Visteon by 7.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 366,609 shares of the company’s stock valued at $32,526,000 after purchasing an additional 25,319 shares during the period. 99.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on VC. Wells Fargo & Company upped their price objective on Visteon from $119.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. TD Cowen began coverage on Visteon in a research note on Friday, March 7th. They issued a “buy” rating and a $108.00 price objective for the company. Barclays reduced their price objective on Visteon from $115.00 to $110.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Morgan Stanley cut their price target on Visteon from $100.00 to $95.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. Finally, Royal Bank of Canada cut their price target on Visteon from $127.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $117.25.

Visteon Stock Up 1.4 %

Shares of NASDAQ VC opened at $82.04 on Friday. The business has a 50-day simple moving average of $84.42 and a two-hundred day simple moving average of $89.27. Visteon Co. has a 52 week low of $75.75 and a 52 week high of $119.16. The company has a market cap of $2.22 billion, a P/E ratio of 8.36, a P/E/G ratio of 0.42 and a beta of 1.39. The company has a quick ratio of 1.47, a current ratio of 1.74 and a debt-to-equity ratio of 0.23.

Visteon (NASDAQ:VC) last released its quarterly earnings results on Tuesday, February 18th. The company reported $4.44 earnings per share for the quarter, beating the consensus estimate of $1.97 by $2.47. Visteon had a return on equity of 24.58% and a net margin of 7.09%. The firm had revenue of $939.00 million for the quarter, compared to analysts’ expectations of $954.17 million. Research analysts anticipate that Visteon Co. will post 8.42 earnings per share for the current fiscal year.

About Visteon

Visteon Corporation, an automotive technology company, designs, manufactures, and sells automotive electronics and connected car solutions for vehicle manufacturers worldwide. The company provides instrument clusters, including analog gauge clusters for 2-D and 3-D display-based devices; information displays that integrate a range of user interface technologies and graphics management capabilities, such as active privacy, TrueColor enhancement, local dimming, cameras, optics, haptic feedback, and light effects; and infotainment and connected car solutions, including scalable Android infotainment for seamless connectivity, as well as onboard artificial intelligence-based voice assistants with natural language understanding.