Cetera Advisors LLC bought a new position in Viad Corp (NYSE:VVI) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,700 shares of the business services provider’s stock, valued at approximately $225,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Viad by 4.3% in the second quarter. Vanguard Group Inc. now owns 1,118,705 shares of the business services provider’s stock worth $52,859,000 after acquiring an additional 46,596 shares during the last quarter. FMR LLC raised its stake in shares of Viad by 52.3% in the second quarter. FMR LLC now owns 730,850 shares of the business services provider’s stock worth $34,533,000 after acquiring an additional 250,850 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Viad by 8.9% in the second quarter. Wells Fargo & Company MN now owns 718,952 shares of the business services provider’s stock worth $33,971,000 after acquiring an additional 58,568 shares during the last quarter. State Street Corp raised its stake in shares of Viad by 4.4% in the second quarter. State Street Corp now owns 512,684 shares of the business services provider’s stock worth $24,227,000 after acquiring an additional 21,649 shares during the last quarter. Finally, TimesSquare Capital Management LLC raised its stake in shares of Viad by 103.1% during the third quarter. TimesSquare Capital Management LLC now owns 405,840 shares of the business services provider’s stock worth $24,716,000 after buying an additional 206,000 shares during the last quarter. 86.12% of the stock is owned by institutional investors.
In related news, Director Robert E. Munzenrider sold 2,100 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $56.01, for a total transaction of $117,621.00. Following the completion of the sale, the director now directly owns 21,179 shares of the company’s stock, valued at $1,186,235.79. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.00% of the company’s stock.
Viad (NYSE:VVI) last posted its quarterly earnings results on Thursday, October 26th. The business services provider reported $1.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.02. The business had revenue of $339.10 million during the quarter, compared to the consensus estimate of $327.59 million. Viad had a net margin of 13.52% and a return on equity of 41.48%. Viad’s revenue for the quarter was down 11.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.74 earnings per share. equities analysts anticipate that Viad Corp will post 2.59 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend is Thursday, December 14th. Viad’s dividend payout ratio (DPR) is 10.84%.
Separately, Zacks Investment Research downgraded shares of Viad from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 28th.
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Viad Corp is an international experiential services company. The Company operates through two main business groups: GES, which is a live event service provider to some of the visible and influential events and global brands, and Pursuit, which is a collection of destination travel experiences. GES conducts its operations through two geographical segments: GES U.S., which has full-service operations in exhibition market in the United States, including Las Vegas, Nevada; Chicago, Illinois; Orlando, Florida; New York, New York, and Los Angeles, California, and GES International, which had full-service operations at many of the event destinations and venues.
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