State Street Corp Raises Stock Position in Viad Corp (NYSE:VVI)

State Street Corp lifted its stake in Viad Corp (NYSE:VVI) by 2.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 766,330 shares of the business services provider’s stock after buying an additional 16,419 shares during the period. State Street Corp owned approximately 3.61% of Viad worth $27,458,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VVI. Allspring Global Investments Holdings LLC lifted its stake in Viad by 1.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,359,646 shares of the business services provider’s stock valued at $48,716,000 after buying an additional 13,814 shares during the last quarter. River Road Asset Management LLC increased its holdings in shares of Viad by 3.6% in 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. Victory Capital Management Inc. raised its position in Viad by 15.2% in the 3rd quarter. Victory Capital Management Inc. now owns 2,042,265 shares of the business services provider’s stock valued at $73,174,000 after purchasing an additional 269,440 shares during the last quarter. Panagora Asset Management Inc. raised its position in Viad by 20.4% in the 2nd quarter. Panagora Asset Management Inc. now owns 102,484 shares of the business services provider’s stock valued at $3,484,000 after purchasing an additional 17,399 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Viad by 5.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 400,769 shares of the business services provider’s stock worth $13,626,000 after purchasing an additional 22,339 shares during the period. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Viad Price Performance

Viad stock opened at $42.91 on Monday. The business has a 50 day simple moving average of $42.11 and a 200-day simple moving average of $37.01. Viad Corp has a 12 month low of $29.46 and a 12 month high of $47.49. The company has a debt-to-equity ratio of 2.01, a current ratio of 1.01 and a quick ratio of 0.97. The stock has a market capitalization of $909.78 million, a PE ratio of 85.82, a price-to-earnings-growth ratio of 2.39 and a beta of 2.07.

Viad (NYSE:VVI) last released its earnings results on Thursday, November 7th. The business services provider reported $2.01 EPS for the quarter, topping the consensus estimate of $1.87 by $0.14. The company had revenue of $455.70 million during the quarter, compared to analysts’ expectations of $437.10 million. Viad had a net margin of 2.68% and a return on equity of 47.55%. During the same quarter last year, the business earned $1.49 EPS. Equities analysts predict that Viad Corp will post 1.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer upped their target price on shares of Viad from $41.00 to $54.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th.

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.