MQS Management LLC Trims Stake in Viad Corp (NYSE:VVI)

MQS Management LLC reduced its position in shares of Viad Corp (NYSE:VVI) by 20.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 8,709 shares of the business services provider’s stock after selling 2,179 shares during the period. MQS Management LLC’s holdings in Viad were worth $312,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew its position in shares of Viad by 4.5% in the second quarter. The Manufacturers Life Insurance Company now owns 8,107 shares of the business services provider’s stock valued at $276,000 after purchasing an additional 350 shares during the period. Rhumbline Advisers lifted its position in Viad by 0.6% during the second quarter. Rhumbline Advisers now owns 61,437 shares of the business services provider’s stock worth $2,089,000 after buying an additional 375 shares in the last quarter. Texas Permanent School Fund Corp boosted its position in shares of Viad by 2.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 18,308 shares of the business services provider’s stock valued at $723,000 after acquiring an additional 414 shares during the last quarter. ClariVest Asset Management LLC boosted its holdings in Viad by 2.8% in the 2nd quarter. ClariVest Asset Management LLC now owns 22,553 shares of the business services provider’s stock valued at $767,000 after purchasing an additional 612 shares during the last quarter. Finally, Illinois Municipal Retirement Fund increased its stake in Viad by 5.2% during the first quarter. Illinois Municipal Retirement Fund now owns 12,609 shares of the business services provider’s stock worth $498,000 after acquiring an additional 619 shares during the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on VVI shares. Oppenheimer lifted their price target on shares of Viad from $41.00 to $54.00 and gave the company an “outperform” rating in a research report on Wednesday. StockNews.com upgraded shares of Viad from a “sell” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, B. Riley reaffirmed a “buy” rating and set a $42.00 price objective (down from $46.00) on shares of Viad in a research report on Monday, August 12th.

Viad Trading Up 3.9 %

Shares of VVI opened at $44.98 on Friday. The firm has a market capitalization of $953.58 million, a P/E ratio of 89.94, a PEG ratio of 2.70 and a beta of 2.04. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 2.01. Viad Corp has a twelve month low of $29.46 and a twelve month high of $47.49. The firm’s 50-day moving average is $36.94 and its two-hundred day moving average is $35.22.

Viad (NYSE:VVI) last released its quarterly earnings results on Thursday, November 7th. The business services provider reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.14. The company had revenue of $455.70 million during the quarter, compared to analysts’ expectations of $437.10 million. Viad had a return on equity of 47.55% and a net margin of 2.68%. During the same period in the previous year, the firm posted $1.49 earnings per share. On average, research analysts predict that Viad Corp will post 1.1 earnings per share for the current fiscal year.

Viad Profile

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.