Jacobs Levy Equity Management Inc. Cuts Position in Viad Corp (NYSE:VVI)

Jacobs Levy Equity Management Inc. trimmed its holdings in shares of Viad Corp (NYSE:VVI) by 17.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,175 shares of the business services provider’s stock after selling 7,078 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Viad were worth $1,189,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. grew its position in Viad by 15.2% during the third quarter. Victory Capital Management Inc. now owns 2,042,265 shares of the business services provider’s stock valued at $73,174,000 after buying an additional 269,440 shares during the period. Bank of Montreal Can bought a new position in shares of Viad during the 2nd quarter valued at approximately $2,380,000. River Road Asset Management LLC grew its position in shares of Viad by 3.6% during the 3rd quarter. River Road Asset Management LLC now owns 1,950,097 shares of the business services provider’s stock valued at $69,872,000 after acquiring an additional 67,292 shares during the period. Millennium Management LLC raised its holdings in shares of Viad by 36.8% in the 2nd quarter. Millennium Management LLC now owns 147,817 shares of the business services provider’s stock worth $5,026,000 after purchasing an additional 39,796 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Viad by 5.9% in the second quarter. Dimensional Fund Advisors LP now owns 400,769 shares of the business services provider’s stock valued at $13,626,000 after buying an additional 22,339 shares during the period. 89.91% of the stock is currently owned by institutional investors.

Viad Trading Down 0.3 %

Shares of VVI opened at $44.24 on Monday. The business’s 50-day moving average price is $40.44 and its 200-day moving average price is $36.30. The stock has a market cap of $937.98 million, a PE ratio of 88.48, a P/E/G ratio of 2.42 and a beta of 2.07. Viad Corp has a twelve month low of $29.46 and a twelve month high of $47.49. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.01.

Viad (NYSE:VVI) last announced its quarterly earnings results on Thursday, November 7th. The business services provider reported $2.01 EPS for the quarter, beating the consensus estimate of $1.87 by $0.14. The firm had revenue of $455.70 million during the quarter, compared to the consensus estimate of $437.10 million. Viad had a net margin of 2.68% and a return on equity of 47.55%. During the same period last year, the firm earned $1.49 EPS. On average, equities analysts forecast that Viad Corp will post 1.25 EPS for the current fiscal year.

Wall Street Analyst Weigh In

VVI has been the subject of several research reports. Oppenheimer increased their price target on Viad from $41.00 to $54.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. B. Riley reissued a “buy” rating and set a $42.00 target price (down previously from $46.00) on shares of Viad in a report on Monday, August 12th.

Viad Company 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.