Virco Manufacturing Corporation (NASDAQ:VIRC) Short Interest Update

Virco Manufacturing Corporation (NASDAQ:VIRC) saw a significant decrease in short interest in June. As of June 30th, there was short interest totaling 304,706 shares, a decrease of 39.0% from the June 15th total of 499,788 shares. Based on an average trading volume of 206,076 shares, the short-interest ratio is presently 1.5 days. Approximately 2.3% of the company’s shares are short sold.

Analyst Ratings Changes

VIRC has been the topic of several recent research reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Virco Manufacturing in a research report on Wednesday, July 8th. Freedom Capital downgraded shares of Virco Manufacturing from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 4th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Virco Manufacturing has a consensus rating of “Reduce”.

Insider Buying and Selling at Virco Manufacturing

In other Virco Manufacturing news, CEO Robert A. Virtue purchased 4,300 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was purchased at an average cost of $6.22 per share, with a total value of $26,746.00. Following the transaction, the chief executive officer owned 506,124 shares in the company, valued at approximately $3,148,091.28. This trade represents a 0.86% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Douglas A. Virtue purchased 8,083 shares of the stock in a transaction that occurred on Wednesday, July 8th. The stock was bought at an average price of $6.00 per share, with a total value of $48,498.00. Following the completion of the acquisition, the executive vice president owned 888,663 shares in the company, valued at $5,331,978. This represents a 0.92% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 13,788 shares of company stock valued at $83,674 in the last three months. Company insiders own 16.94% of the company’s stock.

Institutional Trading of Virco Manufacturing

A number of hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC raised its holdings in Virco Manufacturing by 25.7% in the first quarter. AQR Capital Management LLC now owns 317,915 shares of the company’s stock valued at $3,007,000 after acquiring an additional 64,944 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Virco Manufacturing in the 1st quarter valued at about $186,000. Goldman Sachs Group Inc. grew its stake in Virco Manufacturing by 9.5% in the first quarter. Goldman Sachs Group Inc. now owns 62,829 shares of the company’s stock worth $594,000 after purchasing an additional 5,436 shares in the last quarter. Empowered Funds LLC bought a new stake in Virco Manufacturing in the first quarter valued at about $258,000. Finally, Geode Capital Management LLC raised its stake in Virco Manufacturing by 5.8% during the second quarter. Geode Capital Management LLC now owns 257,034 shares of the company’s stock valued at $2,051,000 after buying an additional 14,203 shares in the last quarter. Institutional investors and hedge funds own 30.97% of the company’s stock.

Virco Manufacturing Stock Up 1.8%

NASDAQ:VIRC traded up $0.11 on Friday, reaching $6.17. The stock had a trading volume of 26,531 shares, compared to its average volume of 118,386. The company has a 50-day moving average of $6.11 and a 200 day moving average of $6.21. The company has a current ratio of 2.71, a quick ratio of 0.90 and a debt-to-equity ratio of 0.03. The stock has a market cap of $97.05 million, a P/E ratio of -102.82 and a beta of 0.21. Virco Manufacturing has a 12-month low of $5.16 and a 12-month high of $9.09.

Virco Manufacturing (NASDAQ:VIRC) last released its quarterly earnings results on Wednesday, June 3rd. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.19). Virco Manufacturing had a negative return on equity of 0.16% and a negative net margin of 0.48%.The business had revenue of $30.69 million during the quarter, compared to analyst estimates of $27.20 million.

Virco Manufacturing Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Friday, June 19th were paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Thursday, June 18th. Virco Manufacturing’s dividend payout ratio is -166.67%.

Virco Manufacturing Company Profile

Virco Manufacturing Corporation (NASDAQ: VIRC) is a leading American manufacturer of furniture, primarily serving the K-12 education market. Headquartered in Torrance, California, the company designs, produces and distributes a comprehensive range of classroom seating, student desks, tables and educational workstations. Over several decades, Virco has built a reputation for durable, cost-effective solutions tailored to the needs of schools, colleges and other institutional customers.

The company’s product portfolio includes molded plastic and wood-seat student chairs, modular and fixed-height desks, multi-purpose tables, computer furniture, laboratory stools and teacher furnishings.