Allspring Global Investments Holdings LLC Raises Stock Holdings in Viad Corp (NYSE:VVI)

Allspring Global Investments Holdings LLC boosted its stake in Viad Corp (NYSE:VVI) by 0.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,325,623 shares of the business services provider’s stock after purchasing an additional 4,068 shares during the quarter. Allspring Global Investments Holdings LLC owned about 6.28% of Viad worth $52,349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in shares of Viad by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 171,332 shares of the business services provider’s stock valued at $6,202,000 after buying an additional 1,545 shares in the last quarter. Panagora Asset Management Inc. lifted its stake in Viad by 47.7% during the fourth quarter. Panagora Asset Management Inc. now owns 64,410 shares of the business services provider’s stock worth $2,332,000 after purchasing an additional 20,803 shares during the last quarter. Comerica Bank boosted its holdings in shares of Viad by 2.0% in the 4th quarter. Comerica Bank now owns 33,730 shares of the business services provider’s stock worth $1,221,000 after purchasing an additional 655 shares in the last quarter. Los Angeles Capital Management LLC increased its position in shares of Viad by 227.6% during the 1st quarter. Los Angeles Capital Management LLC now owns 31,968 shares of the business services provider’s stock valued at $1,262,000 after purchasing an additional 22,210 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Viad by 19.5% during the 4th quarter. BNP Paribas Financial Markets now owns 24,338 shares of the business services provider’s stock valued at $881,000 after buying an additional 3,970 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on VVI. StockNews.com upgraded shares of Viad from a “sell” rating to a “hold” rating in a research report on Thursday, May 30th. B. Riley reiterated a “buy” rating and issued a $50.00 target price (up previously from $46.00) on shares of Viad in a research report on Wednesday, March 6th. Finally, TheStreet upgraded shares of Viad from a “d+” rating to a “c-” rating in a research report on Wednesday, March 20th.

Viad Stock Performance

NYSE:VVI opened at $33.31 on Wednesday. The company has a debt-to-equity ratio of 4.67, a quick ratio of 0.93 and a current ratio of 0.97. Viad Corp has a fifty-two week low of $22.88 and a fifty-two week high of $39.98. The firm has a market cap of $703.84 million, a PE ratio of -87.66, a price-to-earnings-growth ratio of 1.40 and a beta of 2.04. The business has a 50 day moving average price of $34.50 and a 200-day moving average price of $35.01.

Viad (NYSE:VVI) last announced its quarterly earnings results on Thursday, May 2nd. The business services provider reported ($1.13) earnings per share for the quarter, missing the consensus estimate of ($0.98) by ($0.15). Viad had a net margin of 0.61% and a return on equity of 12.70%. The firm had revenue of $273.50 million for the quarter, compared to analysts’ expectations of $271.11 million. Equities research analysts predict that Viad Corp will post 1.62 earnings per share for the current year.

Viad 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.