Rhumbline Advisers Boosts Position in Virgin Galactic Holdings, Inc. (NYSE:SPCE)

Rhumbline Advisers lifted its stake in shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE) by 19.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 33,205 shares of the company’s stock after acquiring an additional 5,384 shares during the period. Rhumbline Advisers owned 0.11% of Virgin Galactic worth $195,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SPCE. Geode Capital Management LLC increased its position in shares of Virgin Galactic by 21.0% during the 3rd quarter. Geode Capital Management LLC now owns 508,088 shares of the company’s stock worth $3,101,000 after purchasing an additional 88,102 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Virgin Galactic by 29.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 187,368 shares of the company’s stock worth $1,143,000 after purchasing an additional 42,883 shares during the last quarter. Franklin Resources Inc. acquired a new stake in shares of Virgin Galactic during the 3rd quarter worth about $80,000. Virtu Financial LLC acquired a new position in Virgin Galactic in the 3rd quarter valued at about $70,000. Finally, Zacks Investment Management grew its position in Virgin Galactic by 40.3% in the 3rd quarter. Zacks Investment Management now owns 35,439 shares of the company’s stock valued at $216,000 after acquiring an additional 10,172 shares in the last quarter. 46.62% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group dropped their target price on Virgin Galactic from $41.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $20.40.

Virgin Galactic Stock Performance

NYSE SPCE opened at $2.96 on Tuesday. The company has a market cap of $85.33 million, a P/E ratio of -0.17 and a beta of 2.16. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.52 and a quick ratio of 4.52. The stock has a 50-day moving average of $4.74 and a two-hundred day moving average of $5.94. Virgin Galactic Holdings, Inc. has a 1-year low of $2.93 and a 1-year high of $36.40.

Virgin Galactic Company Profile

Virgin Galactic Holdings, Inc, an aerospace and space travel company, focuses on the development, manufacture, and operation of spaceships and related technologies. The company engages in the design and development, manufacturing, ground and flight testing, spaceflight operation, and post-flight maintenance of spaceflight systems for private individuals, researchers, and government agencies.