VIZIO (NYSE:VZIO) Cut to “Sell” at Zacks Investment Research

VIZIO (NYSE:VZIO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday, Zacks.com reports.

According to Zacks, “VIZIO Holding Corp. is driving the future of televisions through its integrated platform of cutting-edge Smart TVs and powerful SmartCast operating system. It also offers a portfolio of sound bars which deliver consumers an elevated audio experience. The company’s platform gives content providers more ways to distribute their content and advertisers. VIZIO Holding Corp. is headquartered in Orange County, California. “

A number of other analysts have also recently commented on the company. Needham & Company LLC started coverage on VIZIO in a research report on Thursday, November 18th. They issued a “buy” rating and a $29.00 price objective for the company. Piper Sandler lowered their price target on VIZIO from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 10th. Barrington Research assumed coverage on VIZIO in a research note on Wednesday, November 17th. They issued an “outperform” rating and a $28.00 price target on the stock. Cannonball Research assumed coverage on VIZIO in a research note on Monday, September 20th. They issued a “neutral” rating on the stock. Finally, Craig Hallum assumed coverage on VIZIO in a research note on Wednesday, December 8th. They issued a “buy” rating and a $28.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $29.00.

VIZIO stock opened at $17.85 on Thursday. VIZIO has a 12 month low of $16.68 and a 12 month high of $28.80. The business has a 50 day simple moving average of $19.23 and a 200-day simple moving average of $20.84.

VIZIO (NYSE:VZIO) last posted its quarterly earnings data on Tuesday, November 9th. The company reported ($0.10) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.01). The firm had revenue of $588.32 million during the quarter, compared to analyst estimates of $588.30 million. As a group, equities analysts predict that VIZIO will post -0.35 EPS for the current fiscal year.

In other VIZIO news, major shareholder Technology Co. Ltd. Amtran sold 100,000 shares of VIZIO stock in a transaction on Tuesday, November 16th. The stock was sold at an average price of $21.44, for a total value of $2,144,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Ben Bun Wong sold 40,000 shares of the business’s stock in a transaction on Wednesday, January 5th. The shares were sold at an average price of $19.02, for a total value of $760,800.00. The disclosure for this sale can be found here. Insiders sold 922,752 shares of company stock worth $19,002,768 in the last 90 days.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Future Financial Wealth Managment LLC acquired a new position in shares of VIZIO during the 4th quarter worth about $78,000. Bank of New York Mellon Corp boosted its position in shares of VIZIO by 141.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 116,825 shares of the company’s stock worth $2,483,000 after acquiring an additional 68,499 shares in the last quarter. Schonfeld Strategic Advisors LLC boosted its position in shares of VIZIO by 81.0% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 397,682 shares of the company’s stock worth $8,447,000 after acquiring an additional 177,920 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of VIZIO during the 3rd quarter worth about $280,000. Finally, Two Sigma Investments LP acquired a new position in shares of VIZIO during the 3rd quarter worth about $886,000. Institutional investors own 8.75% of the company’s stock.

VIZIO Company Profile

VIZIO Holding Corp., through its subsidiaries, provides smart televisions, sound bars, and accessories in the United States. It also operates Platform+ that comprises SmartCast, a Smart TV operating system, enabling integrated home entertainment solution, and data intelligence and services products through Inscape.

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