KAMES CAPITAL plc boosted its position in shares of Viad Corp (NYSE:VVI) by 14.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 90,641 shares of the business services provider’s stock after purchasing an additional 11,786 shares during the period. KAMES CAPITAL plc owned about 0.45% of Viad worth $6,093,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the stock. Arizona State Retirement System raised its stake in shares of Viad by 1.0% in the second quarter. Arizona State Retirement System now owns 31,465 shares of the business services provider’s stock worth $2,084,000 after acquiring an additional 302 shares during the last quarter. Advisory Services Network LLC bought a new position in shares of Viad in the second quarter worth about $32,000. Swiss National Bank raised its stake in shares of Viad by 1.3% in 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 last quarter. Bank of Montreal Can raised its stake in shares of Viad by 242.3% in the second quarter. Bank of Montreal Can now owns 2,372 shares of the business services provider’s stock worth $157,000 after acquiring an additional 1,679 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Viad by 13.9% in the second quarter. First Trust Advisors LP now owns 15,623 shares of the business services provider’s stock worth $1,035,000 after acquiring an additional 1,904 shares during the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Viad from a “buy” rating to a “hold” rating in a research note on Saturday, September 28th. ValuEngine downgraded shares of Viad from a “hold” rating to a “sell” rating in a research note on Monday, October 7th.
Viad (NYSE:VVI) last posted its quarterly earnings results on Thursday, July 25th. The business services provider reported $1.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.37 by $0.07. The business had revenue of $402.30 million during the quarter, compared to the consensus estimate of $398.50 million. Viad had a net margin of 2.32% and a return on equity of 11.24%. Viad’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.20 earnings per share. Equities research analysts predict that Viad Corp will post 2.69 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend was Thursday, September 12th. Viad’s dividend payout ratio is currently 17.09%.
In related news, Director Robert E. Munzenrider sold 921 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $66.02, for a total transaction of $60,804.42. Following the completion of the transaction, the director now owns 20,104 shares in the company, valued at $1,327,266.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert E. Munzenrider sold 1,079 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $63.70, for a total transaction of $68,732.30. Following the transaction, the director now owns 19,025 shares of the company’s stock, valued at approximately $1,211,892.50. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.
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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