Mason Street Advisors LLC acquired a new position in Viad Corp. (NYSE:VVI) during the second quarter, Holdings Channel reports. The institutional investor acquired 3,959 shares of the company’s stock, valued at approximately $123,000.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in Viad Corp. by 1.3% in the second quarter. Royal Bank of Canada now owns 56,997 shares of the company’s stock worth $1,767,000 after buying an additional 751 shares during the last quarter. Arizona State Retirement System increased its stake in Viad Corp. by 1.9% in the second quarter. Arizona State Retirement System now owns 10,473 shares of the company’s stock worth $325,000 after buying an additional 200 shares during the last quarter. Highbridge Capital Management LLC purchased a new stake in Viad Corp. during the second quarter worth about $242,000. Cubist Systematic Strategies LLC increased its stake in Viad Corp. by 25.4% in the second quarter. Cubist Systematic Strategies LLC now owns 11,538 shares of the company’s stock worth $358,000 after buying an additional 2,337 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in Viad Corp. by 13.7% in the second quarter. AQR Capital Management LLC now owns 55,816 shares of the company’s stock worth $1,731,000 after buying an additional 6,740 shares during the last quarter. 88.30% of the stock is currently owned by institutional investors and hedge funds.
Viad Corp. (NYSE:VVI) opened at 35.35 on Tuesday. The stock’s 50 day moving average price is $36.14 and its 200 day moving average price is $32.92. The company has a market cap of $717.07 million, a P/E ratio of 38.17 and a beta of 0.92. Viad Corp. has a 52-week low of $25.90 and a 52-week high of $37.85.
Viad Corp. (NYSE:VVI) last issued its earnings results on Thursday, July 28th. The company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.22. Viad Corp. had a return on equity of 6.77% and a net margin of 1.75%. The firm had revenue of $324.70 million for the quarter, compared to the consensus estimate of $304.90 million. During the same quarter in the prior year, the business earned $1.18 earnings per share. The company’s revenue was up 2.4% compared to the same quarter last year. Analysts expect that Viad Corp. will post $2.28 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Friday, September 9th were given a dividend of $0.10 per share. The ex-dividend date was Wednesday, September 7th. This represents a $0.40 dividend on an annualized basis and a yield of 1.13%. Viad Corp.’s dividend payout ratio is currently 43.48%.
Several equities analysts have recently weighed in on VVI shares. Zacks Investment Research downgraded Viad Corp. from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 13th. B. Riley reissued a “buy” rating and set a $42.00 target price on shares of Viad Corp. in a research report on Wednesday, August 17th.
In other Viad Corp. news, Director Robert E. Munzenrider sold 2,000 shares of the stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $35.87, for a total transaction of $71,740.00. Following the transaction, the director now owns 22,106 shares in the company, valued at $792,942.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.10% of the company’s stock.
About Viad Corp.
Viad Corp is an international experiential services company. The Company has operations in the United States, Canada, the United Kingdom, continental Europe and the United Arab Emirates. The Company conducts its operations through three business segments: the Marketing & Events U.S. Segment (U.S. Segment), the Marketing & Events International Segment (the International Segment) (collectively, the Marketing & Events Group), and the Travel & Recreation Group.