Covey Capital Advisors LLC decreased its position in Viad Corp (NYSE:VVI) by 2.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,979 shares of the business services provider’s stock after selling 1,652 shares during the period. Viad Corp accounts for approximately 3.4% of Covey Capital Advisors LLC’s investment portfolio, making the stock its 6th largest position. Covey Capital Advisors LLC owned 0.33% of Viad Corp worth $3,165,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. State of Alaska Department of Revenue grew its stake in shares of Viad Corp by 1.8% in the 1st quarter. State of Alaska Department of Revenue now owns 2,240 shares of the business services provider’s stock valued at $101,000 after buying an additional 40 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Viad Corp in the 2nd quarter valued at approximately $120,000. Asset Management One Co. Ltd. purchased a new stake in shares of Viad Corp in the 1st quarter valued at approximately $151,000. LS Investment Advisors LLC grew its stake in shares of Viad Corp by 374.8% in the 1st quarter. LS Investment Advisors LLC now owns 3,509 shares of the business services provider’s stock valued at $159,000 after buying an additional 2,770 shares during the period. Finally, Capital Fund Management S.A. purchased a new stake in shares of Viad Corp in the 1st quarter valued at approximately $208,000. 86.12% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently weighed in on VVI. Zacks Investment Research raised shares of Viad Corp from a “hold” rating to a “strong-buy” rating and set a $57.00 price target for the company in a research note on Saturday, July 29th. BidaskClub raised shares of Viad Corp from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th.
Shares of Viad Corp (NYSE:VVI) remained flat at $55.45 during trading on Friday. The company had a trading volume of 39,337 shares. Viad Corp has a 52 week low of $34.40 and a 52 week high of $56.00. The firm’s 50-day moving average price is $53.75 and its 200 day moving average price is $47.56. The company has a market cap of $1.13 billion, a price-to-earnings ratio of 17.49 and a beta of 0.50.
Viad Corp (NYSE:VVI) last released its earnings results on Thursday, July 27th. The business services provider reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.26. Viad Corp had a net margin of 4.85% and a return on equity of 16.76%. The firm had revenue of $364.77 million during the quarter, compared to the consensus estimate of $347.35 million. During the same period in the previous year, the firm earned $1.04 earnings per share. Viad Corp’s revenue was up 12.3% compared to the same quarter last year. On average, equities analysts predict that Viad Corp will post $2.76 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 8th will be issued a $0.10 dividend. The ex-dividend date is Thursday, September 7th. This represents a $0.40 dividend on an annualized basis and a yield of 0.72%. Viad Corp’s payout ratio is 12.62%.
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Viad Corp Profile
Viad Corp is an international experiential services company. The Company operates through two main business groups: GES, which is a live event service provider to some of the visible and influential events and global brands, and Pursuit, which is a collection of destination travel experiences. GES conducts its operations through two geographical segments: GES U.S., which has full-service operations in exhibition market in the United States, including Las Vegas, Nevada; Chicago, Illinois; Orlando, Florida; New York, New York, and Los Angeles, California, and GES International, which had full-service operations at many of the event destinations and venues.
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