Key Points
- CEO Robert Virtue bought 3,300 shares on April 10 at an average price of $5.52, spending $18,216 and increasing his holding to 499,124 shares (a 0.67% rise), worth roughly $2.76 million.
- Recent results disappointed: Virco reported Q (loss) EPS of ($0.45) vs. ($0.35) expected and revenue of $26.18 million vs. $29.61 million expected, with the stock trading near its one-year low.
- Dividend and analyst picture: Virco pays a small quarterly dividend ($0.025; $0.10 annualized, ~1.7% yield), has mixed analyst ratings (one Strong Buy, one Hold, one Sell; consensus Hold), and about 31% institutional ownership.
Virco Manufacturing Corporation (NASDAQ:VIRC - Get Free Report) CEO Robert Virtue bought 3,300 shares of the company's stock in a transaction that occurred on Friday, April 10th. The shares were bought at an average price of $5.52 per share, for a total transaction of $18,216.00. Following the completion of the acquisition, the chief executive officer owned 499,124 shares in the company, valued at approximately $2,755,164.48. This trade represents a 0.67% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Virco Manufacturing Stock Performance
Shares of NASDAQ:VIRC opened at $5.85 on Tuesday. The company has a market cap of $92.20 million, a P/E ratio of 34.41 and a beta of 0.27. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.31 and a current ratio of 3.09. Virco Manufacturing Corporation has a one year low of $5.16 and a one year high of $10.62. The business's 50-day simple moving average is $6.20 and its 200 day simple moving average is $6.62.
Virco Manufacturing (NASDAQ:VIRC - Get Free Report) last announced its earnings results on Wednesday, April 8th. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.10). The company had revenue of $26.18 million for the quarter, compared to analysts' expectations of $29.61 million. Virco Manufacturing had a net margin of 1.29% and a return on equity of 2.18%. On average, sell-side analysts forecast that Virco Manufacturing Corporation will post 1.54 earnings per share for the current fiscal year.
Virco Manufacturing Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, April 10th. Investors of record on Friday, March 20th were issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Friday, March 20th. Virco Manufacturing's dividend payout ratio (DPR) is presently 58.82%.
Analysts Set New Price Targets
A number of brokerages have weighed in on VIRC. Freedom Capital upgraded Virco Manufacturing from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 9th. Weiss Ratings lowered Virco Manufacturing from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold".
View Our Latest Stock Analysis on Virco Manufacturing
Institutional Investors Weigh In On Virco Manufacturing
A number of hedge funds have recently bought and sold shares of VIRC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Virco Manufacturing during the 3rd quarter valued at approximately $41,000. State of Alaska Department of Revenue acquired a new stake in Virco Manufacturing during the 4th quarter valued at approximately $47,000. Significant Wealth Partners LLC acquired a new stake in Virco Manufacturing during the 3rd quarter valued at approximately $86,000. Barclays PLC grew its stake in Virco Manufacturing by 16.4% during the 4th quarter. Barclays PLC now owns 17,665 shares of the company's stock valued at $113,000 after purchasing an additional 2,495 shares in the last quarter. Finally, Park Edge Advisors LLC grew its stake in Virco Manufacturing by 12.9% during the 4th quarter. Park Edge Advisors LLC now owns 18,100 shares of the company's stock valued at $116,000 after purchasing an additional 2,072 shares in the last quarter. Institutional investors and hedge funds own 30.97% of the company's stock.
About Virco Manufacturing
(
Get Free Report)
Virco Manufacturing Corporation (NASDAQ: VIRC) is a leading American manufacturer of furniture, primarily serving the K-12 education market. Headquartered in Torrance, California, the company designs, produces and distributes a comprehensive range of classroom seating, student desks, tables and educational workstations. Over several decades, Virco has built a reputation for durable, cost-effective solutions tailored to the needs of schools, colleges and other institutional customers.
The company's product portfolio includes molded plastic and wood-seat student chairs, modular and fixed-height desks, multi-purpose tables, computer furniture, laboratory stools and teacher furnishings.
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