Zacks Investment Research Downgrades Victory Capital (NASDAQ:VCTR) to Sell

Zacks Investment Research cut shares of Victory Capital (NASDAQ:VCTR) from a hold rating to a sell rating in a research report report published on Wednesday, Zacks.com reports.

According to Zacks, “Victory Capital Holdings, Inc. is an integrated multi-boutique asset management firm. The company provides institutions, financial advisors and retirement platforms which include separately managed accounts, collective trusts, mutual funds, ETFs and UMA/SMA vehicles. Victory Capital Holdings, Inc. is headquartered in Cleveland, Ohio. “

Several other equities research analysts have also weighed in on VCTR. JPMorgan Chase & Co. increased their target price on shares of Victory Capital from $14.00 to $17.00 and gave the stock a neutral rating in a report on Tuesday, May 12th. BidaskClub upgraded Victory Capital from a hold rating to a buy rating in a report on Friday, July 3rd. Bank of America boosted their target price on Victory Capital from $20.00 to $22.00 and gave the company a buy rating in a research note on Friday, July 10th. Oppenheimer reiterated a hold rating on shares of Victory Capital in a report on Monday, May 11th. Finally, Barclays raised their target price on shares of Victory Capital from $19.00 to $21.00 and gave the stock an overweight rating in a report on Thursday, July 9th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $22.19.

NASDAQ VCTR opened at $17.75 on Wednesday. The stock’s 50 day simple moving average is $17.62 and its 200 day simple moving average is $17.64. Victory Capital has a one year low of $10.18 and a one year high of $24.83. The firm has a market cap of $1.21 billion, a PE ratio of 9.70, a price-to-earnings-growth ratio of 0.28 and a beta of 1.15. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.54 and a quick ratio of 0.54.

Victory Capital (NASDAQ:VCTR) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. The company had revenue of $204.42 million for the quarter, compared to analyst estimates of $210.52 million. Victory Capital had a return on equity of 40.74% and a net margin of 18.53%. As a group, equities analysts expect that Victory Capital will post 3.36 earnings per share for the current year.

In related news, Director James B. Hawkes acquired 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were bought at an average cost of $13.96 per share, for a total transaction of $279,200.00. Following the completion of the transaction, the director now owns 2,000 shares in the company, valued at $27,920. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James B. Hawkes bought 4,404 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was bought at an average cost of $15.76 per share, for a total transaction of $69,407.04. Following the completion of the purchase, the director now directly owns 2,000 shares of the company’s stock, valued at $31,520. The disclosure for this purchase can be found here. Insiders acquired a total of 55,404 shares of company stock worth $827,867 over the last 90 days. Corporate insiders own 10.16% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its stake in Victory Capital by 46.9% in the 4th quarter. Bank of New York Mellon Corp now owns 122,552 shares of the company’s stock worth $2,570,000 after purchasing an additional 39,120 shares in the last quarter. Bank of America Corp DE raised its holdings in Victory Capital by 26.7% during the fourth quarter. Bank of America Corp DE now owns 569,273 shares of the company’s stock worth $11,937,000 after purchasing an additional 120,111 shares in the last quarter. Natixis Advisors L.P. purchased a new stake in shares of Victory Capital in the first quarter valued at approximately $1,047,000. WINTON GROUP Ltd acquired a new position in Victory Capital during the first quarter worth $317,000. Finally, BlackRock Inc. raised its position in Victory Capital by 9.7% in the first quarter. BlackRock Inc. now owns 357,929 shares of the company’s stock worth $5,855,000 after acquiring an additional 31,793 shares in the last quarter. 17.59% of the stock is owned by institutional investors.

Victory Capital Company Profile

Victory Capital Holdings, Inc, together with its subsidiaries, operates as an independent investment management company in the United States. It offers investment advisory, fund administration, and distribution services through broker-dealers, retirement platforms, and registered investment advisor networks.

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