Panagora Asset Management Inc. Grows Stock Position in Viad Corp (NYSE:VVI)

Panagora Asset Management Inc. lifted its stake in Viad Corp (NYSE:VVI) by 98.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,801 shares of the business services provider’s stock after buying an additional 4,375 shares during the period. Panagora Asset Management Inc.’s holdings in Viad were worth $583,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Covey Capital Advisors LLC raised its position in Viad by 10.5% in the 2nd quarter. Covey Capital Advisors LLC now owns 58,711 shares of the business services provider’s stock worth $3,889,000 after purchasing an additional 5,585 shares during the period. JPMorgan Chase & Co. increased its position in shares of Viad by 16.1% during the second quarter. JPMorgan Chase & Co. now owns 44,023 shares of the business services provider’s stock worth $2,900,000 after acquiring an additional 6,105 shares during the period. GSA Capital Partners LLP purchased a new position in shares of Viad during the second quarter worth approximately $467,000. Swiss National Bank increased its position in shares of Viad by 1.3% during the second quarter. Swiss National Bank now owns 37,600 shares of the business services provider’s stock worth $2,491,000 after acquiring an additional 500 shares during the period. Finally, Advisory Services Network LLC purchased a new position in shares of Viad during the second quarter worth approximately $32,000. Hedge funds and other institutional investors own 90.78% of the company’s stock.

A number of equities analysts have recently commented on VVI shares. ValuEngine raised shares of Viad from a “hold” rating to a “buy” rating in a research report on Tuesday, May 14th. Zacks Investment Research raised shares of Viad from a “hold” rating to a “strong-buy” rating and set a $80.00 target price on the stock in a research report on Friday, July 19th.

In other news, Director Robert E. Munzenrider sold 2,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $62.91, for a total transaction of $125,820.00. Following the completion of the sale, the director now owns 21,025 shares of the company’s stock, valued at $1,322,682.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is owned by insiders.

VVI traded down $1.46 on Friday, reaching $64.79. The stock had a trading volume of 538 shares, compared to its average volume of 110,303. Viad Corp has a 12-month low of $46.17 and a 12-month high of $72.27. The company has a current ratio of 0.49, a quick ratio of 0.45 and a debt-to-equity ratio of 0.10. The business’s 50-day moving average price is $68.52 and its two-hundred day moving average price is $61.71. The company has a market cap of $1.34 billion, a P/E ratio of 27.68 and a beta of 0.67.

Viad (NYSE:VVI) last released its quarterly earnings data on Thursday, July 25th. The business services provider reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.07. Viad had a net margin of 2.32% and a return on equity of 11.24%. The company had revenue of $402.30 million during the quarter, compared to analysts’ expectations of $398.50 million. During the same quarter in the previous year, the company earned $1.20 earnings per share. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, analysts predict that Viad Corp will post 2.69 earnings per share for the current year.

Viad Company Profile

Viad Corp operates as an experiential services company in the United States, Canada, the United Kingdom, continental Europe, and the United Arab Emirates. It operates in two business groups, GES and Pursuit. The company offers event planning and production, look and feel design, layout and floor plan designs, furnishings and carpet, show traffic analysis, marketing and strategy, electrical distribution, cleaning, plumbing, overhead and booth rigging, and material handling services; and signage products and common area structures.

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Institutional Ownership by Quarter for Viad (NYSE:VVI)

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