Cornerstone Investment Partners LLC Takes $173,000 Position in VIZIO Holding Corp. (NYSE:VZIO)

Cornerstone Investment Partners LLC bought a new stake in VIZIO Holding Corp. (NYSE:VZIO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 22,494 shares of the company’s stock, valued at approximately $173,000.

A number of other hedge funds also recently modified their holdings of VZIO. Point72 Middle East FZE purchased a new stake in shares of VIZIO during the fourth quarter worth $46,000. Tower Research Capital LLC TRC raised its holdings in shares of VIZIO by 381.2% during the second quarter. Tower Research Capital LLC TRC now owns 7,877 shares of the company’s stock worth $53,000 after acquiring an additional 6,240 shares in the last quarter. UBS Group AG raised its holdings in shares of VIZIO by 88.9% during the third quarter. UBS Group AG now owns 6,378 shares of the company’s stock worth $56,000 after acquiring an additional 3,002 shares in the last quarter. AXQ Capital LP purchased a new stake in shares of VIZIO during the third quarter worth $63,000. Finally, Legal & General Group Plc purchased a new stake in shares of VIZIO during the second quarter worth $66,000. Hedge funds and other institutional investors own 66.24% of the company’s stock.

Insider Buying and Selling

In related news, Director David Eugene Russell sold 300,000 shares of VIZIO stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $9.91, for a total transaction of $2,973,000.00. Following the sale, the director now directly owns 2,536,542 shares of the company’s stock, valued at $25,137,131.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 45.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on VZIO. Wells Fargo & Company reiterated an “equal weight” rating and set a $11.50 price objective (up from $10.00) on shares of VIZIO in a report on Tuesday, February 27th. Roth Capital downgraded shares of VIZIO from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 21st. Roth Mkm reissued a “neutral” rating and set a $11.50 target price (down from $12.00) on shares of VIZIO in a research report on Wednesday, February 21st. Piper Sandler reissued a “neutral” rating and set a $11.50 target price (down from $12.00) on shares of VIZIO in a research report on Wednesday, February 28th. Finally, B. Riley downgraded shares of VIZIO from a “buy” rating to a “neutral” rating and set a $11.50 target price on the stock. in a research report on Tuesday, February 20th. One research analyst has rated the stock with a sell rating and ten have issued a hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $10.77.

VIZIO Stock Performance

Shares of NYSE:VZIO opened at $10.78 on Friday. The company has a market cap of $2.13 billion, a P/E ratio of 71.87, a P/E/G ratio of 2.11 and a beta of 2.12. The stock’s 50-day moving average is $10.75 and its 200-day moving average is $8.06. VIZIO Holding Corp. has a 52-week low of $4.82 and a 52-week high of $11.28.

VIZIO (NYSE:VZIO) last released its earnings results on Tuesday, February 27th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. VIZIO had a return on equity of 6.84% and a net margin of 1.68%. The business had revenue of $502.60 million for the quarter, compared to the consensus estimate of $498.83 million. During the same period last year, the business earned $0.03 earnings per share. The firm’s revenue for the quarter was down 5.8% compared to the same quarter last year. As a group, equities analysts predict that VIZIO Holding Corp. will post 0.2 EPS for the current year.

VIZIO Company Profile

VIZIO Holding Corp., through its subsidiaries, provides smart televisions, sound bars, and accessories in the United States. It also operates Platform+ that comprises SmartCast, a Smart TV operating system, enabling integrated entertainment solution, and data intelligence and services products through Inscape.