Park Edge Advisors LLC Buys New Holdings in Virco Mfg. Co. (NASDAQ:VIRC)

Park Edge Advisors LLC bought a new stake in Virco Mfg. Co. (NASDAQ:VIRC) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 23,500 shares of the company’s stock, valued at approximately $257,000. Park Edge Advisors LLC owned approximately 0.14% of Virco Mfg. at the end of the most recent quarter.

A number of other large investors have also modified their holdings of VIRC. Barclays PLC bought a new position in Virco Mfg. during the third quarter worth about $74,000. Acadian Asset Management LLC acquired a new stake in Virco Mfg. in the 3rd quarter valued at approximately $146,000. Minerva Advisors LLC increased its position in shares of Virco Mfg. by 12.2% during the 3rd quarter. Minerva Advisors LLC now owns 1,079,874 shares of the company’s stock worth $8,541,000 after purchasing an additional 117,662 shares during the last quarter. Heron Bay Capital Management acquired a new position in shares of Virco Mfg. during the 4th quarter worth approximately $177,000. Finally, Ritholtz Wealth Management acquired a new position in shares of Virco Mfg. during the 4th quarter worth approximately $309,000. 30.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on VIRC shares. StockNews.com downgraded Virco Mfg. from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 18th. Wedbush reissued an “outperform” rating and set a $19.00 price target (up previously from $16.00) on shares of Virco Mfg. in a report on Friday, June 7th.

Virco Mfg. Price Performance

NASDAQ:VIRC traded down $0.24 during trading hours on Thursday, hitting $13.30. 210,658 shares of the company’s stock traded hands, compared to its average volume of 429,788. The firm has a market cap of $215.59 million, a P/E ratio of 8.53 and a beta of 0.67. Virco Mfg. Co. has a 52 week low of $3.85 and a 52 week high of $17.83. The business’s fifty day simple moving average is $13.01 and its two-hundred day simple moving average is $11.67. The company has a quick ratio of 0.59, a current ratio of 2.30 and a debt-to-equity ratio of 0.07.

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

Virco Mfg. Announces Dividend

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 given a dividend of $0.02 per share. The ex-dividend date is Friday, June 21st. This represents a $0.08 annualized dividend and a yield of 0.60%. Virco Mfg.’s payout ratio is 5.13%.

Virco Mfg. Company 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.