Park Edge Advisors LLC Has $226,000 Holdings in Virco Mfg. Co. (NASDAQ:VIRC)

Park Edge Advisors LLC reduced its position in shares of Virco Mfg. Co. (NASDAQ:VIRC) by 31.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,200 shares of the company’s stock after selling 7,300 shares during the period. Park Edge Advisors LLC owned 0.10% of Virco Mfg. worth $226,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Lazard Asset Management LLC increased its stake in Virco Mfg. by 115.6% in the first quarter. Lazard Asset Management LLC now owns 3,450 shares of the company’s stock valued at $37,000 after acquiring an additional 1,850 shares during the period. LSV Asset Management acquired a new position in Virco Mfg. during the first quarter worth $90,000. SG Americas Securities LLC bought a new position in Virco Mfg. during the 2nd quarter valued at about $127,000. Russell Investments Group Ltd. bought a new position in shares of Virco Mfg. in the fourth quarter valued at approximately $160,000. Finally, Bailard Inc. bought a new position in Virco Mfg. in the 4th quarter valued at $190,000. 30.97% of the stock is currently owned by institutional investors.

Virco Mfg. Stock Performance

Shares of Virco Mfg. stock traded down $0.70 during trading on Tuesday, hitting $16.46. 239,166 shares of the stock were exchanged, compared to its average volume of 224,311. Virco Mfg. Co. has a 1-year low of $4.35 and a 1-year high of $18.50. The stock has a market capitalization of $266.82 million, a price-to-earnings ratio of 10.55 and a beta of 0.67. The company has a fifty day moving average price of $15.46 and a 200-day moving average price of $12.77. The company has a current ratio of 2.30, a quick ratio of 0.59 and a debt-to-equity ratio of 0.07.

Virco Mfg. (NASDAQ:VIRC) last announced its quarterly earnings results on Friday, June 7th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.26. Virco Mfg. had a return on equity of 28.41% and a net margin of 9.07%. The business had revenue of $46.74 million during the quarter, compared to the consensus estimate of $37.70 million. As a group, equities analysts predict that Virco Mfg. Co. will post 1.86 EPS for the current fiscal year.

Virco Mfg. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 21st were paid a $0.02 dividend. The ex-dividend date was Friday, June 21st. This represents a $0.08 annualized dividend and a dividend yield of 0.49%. Virco Mfg.’s dividend payout ratio (DPR) is presently 5.13%.

Wall Street Analyst Weigh In

VIRC has been the topic of several research reports. Wedbush reaffirmed an “outperform” rating and set a $19.00 price target (up previously from $16.00) on shares of Virco Mfg. in a research note on Friday, June 7th. StockNews.com lowered Virco Mfg. from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 25th.

Virco Mfg. Company 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.