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 filing with the Securities and Exchange Commission. The institutional investor owned 66,979 shares of the business services provider’s stock after selling 1,652 shares during the quarter. Viad Corp accounts for approximately 3.4% of Covey Capital Advisors LLC’s holdings, 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.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. State of Alaska Department of Revenue boosted its position in Viad Corp by 1.8% during 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 purchasing an additional 40 shares during the period. Louisiana State Employees Retirement System boosted its position in Viad Corp by 1.2% during the 1st quarter. Louisiana State Employees Retirement System now owns 8,300 shares of the business services provider’s stock valued at $375,000 after purchasing an additional 100 shares during the period. Arizona State Retirement System boosted its position in Viad Corp by 1.0% during the 1st quarter. Arizona State Retirement System now owns 10,573 shares of the business services provider’s stock valued at $478,000 after purchasing an additional 100 shares during the period. Rhumbline Advisers boosted its position in Viad Corp by 0.4% during the 2nd quarter. Rhumbline Advisers now owns 41,280 shares of the business services provider’s stock valued at $1,950,000 after purchasing an additional 149 shares during the period. Finally, Texas Permanent School Fund boosted its position in Viad Corp by 1.2% during the 2nd quarter. Texas Permanent School Fund now owns 14,880 shares of the business services provider’s stock valued at $703,000 after purchasing an additional 177 shares during the period. Institutional investors own 86.09% of the company’s stock.
Shares of Viad Corp (NYSE:VVI) opened at 58.20 on Friday. The firm’s 50-day moving average price is $54.17 and its 200 day moving average price is $47.78. The company has a market cap of $1.19 billion, a P/E ratio of 18.36 and a beta of 0.50. Viad Corp has a 52 week low of $34.40 and a 52 week high of $58.40.
Viad Corp (NYSE:VVI) last issued its quarterly earnings results on Thursday, July 27th. The business services provider reported $1.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.26. The business had revenue of $364.77 million for the quarter, compared to analysts’ expectations of $347.35 million. Viad Corp had a net margin of 4.85% and a return on equity of 16.76%. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.04 earnings per share. On average, equities analysts predict that Viad Corp will post $2.76 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.40 annualized dividend and a dividend yield of 0.69%. Viad Corp’s dividend payout ratio is currently 12.62%.
A number of research analysts recently issued reports on the company. Zacks Investment Research upgraded Viad Corp from a “hold” rating to a “strong-buy” rating and set a $57.00 price objective for the company in a research report on Saturday, July 29th. BidaskClub upgraded Viad Corp from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th.
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About Viad Corp
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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