Virco Mfg. Co. (NASDAQ:VIRC) Holdings Raised by Rhumbline Advisers

Rhumbline Advisers grew its stake in shares of Virco Mfg. Co. (NASDAQ:VIRC) by 11.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,653 shares of the company’s stock after purchasing an additional 1,753 shares during the period. Rhumbline Advisers owned about 0.10% of Virco Mfg. worth $171,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. MetLife Investment Management LLC raised its position in Virco Mfg. by 129.1% during the third quarter. MetLife Investment Management LLC now owns 6,231 shares of the company’s stock valued at $86,000 after buying an additional 3,511 shares during the period. Virtus Investment Advisers Inc. acquired a new position in Virco Mfg. during the third quarter valued at $90,000. Walleye Capital LLC acquired a new position in Virco Mfg. during the third quarter valued at $140,000. Creative Planning acquired a new position in Virco Mfg. during the third quarter valued at $159,000. Finally, XTX Topco Ltd acquired a new position in Virco Mfg. during the third quarter valued at $180,000. 30.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on VIRC shares. Wedbush reaffirmed an “outperform” rating and issued a $17.00 target price (down from $20.00) on shares of Virco Mfg. in a research report on Tuesday, December 10th. StockNews.com lowered Virco Mfg. from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th.

Virco Mfg. Stock Performance

Shares of NASDAQ VIRC opened at $10.16 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.70 and a current ratio of 2.88. The firm has a market cap of $165.50 million, a price-to-earnings ratio of 6.55 and a beta of 0.76. The business’s 50-day simple moving average is $10.61 and its 200-day simple moving average is $12.98. Virco Mfg. Co. has a 52 week low of $9.08 and a 52 week high of $18.50.

Virco Mfg. (NASDAQ:VIRC) last issued its quarterly earnings data on Monday, December 9th. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.35). Virco Mfg. had a net margin of 8.93% and a return on equity of 24.63%. During the same period last year, the business posted $0.62 EPS. As a group, equities research analysts expect that Virco Mfg. Co. will post 1.54 earnings per share for the current fiscal year.

Virco Mfg. announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, January 21st that allows the company to buyback $10.00 million in shares. This buyback authorization allows the company to reacquire up to 5.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Virco Mfg. Profile

Virco Mfg. Corporation engages in the design, production, and distribution of furniture in the United States and Canada. The company offers seating products, including 4-leg chairs, cantilever chairs, mobile task chairs and lab stools, tablet armchairs, steel-frame and floor rockers, series stools, hard plastic seating, folding and upholstered stack chairs, and plastic stack and upholstered ergonomic chairs.