Viad (NYSE:VVI) Sees Large Volume Increase – Time to Buy?

Shares of Viad Corp (NYSE:VVI) saw an uptick in trading volume on Wednesday . 62,491 shares changed hands during mid-day trading, a decline of 33% from the previous session’s volume of 93,083 shares.The stock last traded at $41.62 and had previously closed at $41.91.

Analyst Ratings Changes

Several brokerages recently issued reports on VVI. StockNews.com upgraded Viad from a “sell” rating to a “hold” rating in a research note on Wednesday, August 7th. B. Riley reaffirmed a “buy” rating and issued a $42.00 price target (down from $46.00) on shares of Viad in a report on Monday, August 12th. Finally, Oppenheimer reiterated an “outperform” rating and set a $41.00 price objective on shares of Viad in a research note on Tuesday, September 17th.

Viad Price Performance

The business has a fifty day moving average of $34.99 and a 200-day moving average of $34.73. The company has a debt-to-equity ratio of 3.73, a quick ratio of 1.02 and a current ratio of 1.07. The firm has a market capitalization of $844.27 million, a P/E ratio of -105.16, a price-to-earnings-growth ratio of 2.15 and a beta of 2.04.

Viad (NYSE:VVI) last issued its quarterly earnings results on Tuesday, August 6th. The business services provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.20. The company had revenue of $378.54 million for the quarter, compared to analyst estimates of $358.72 million. Viad had a return on equity of 29.43% and a net margin of 2.30%. During the same period last year, the company earned $0.36 earnings per share. On average, sell-side analysts forecast that Viad Corp will post 1.1 EPS for the current fiscal year.

Institutional Trading of Viad

A number of hedge funds and other institutional investors have recently made changes to their positions in VVI. The Manufacturers Life Insurance Company raised its holdings in Viad by 4.5% during the second quarter. The Manufacturers Life Insurance Company now owns 8,107 shares of the business services provider’s stock worth $276,000 after purchasing an additional 350 shares in the last quarter. Rhumbline Advisers boosted its stake in Viad by 0.6% during the second quarter. Rhumbline Advisers now owns 61,437 shares of the business services provider’s stock valued at $2,089,000 after buying an additional 375 shares in the last quarter. Texas Permanent School Fund Corp grew its holdings in Viad by 2.3% during the first quarter. Texas Permanent School Fund Corp now owns 18,308 shares of the business services provider’s stock worth $723,000 after acquiring an additional 414 shares during the period. ClariVest Asset Management LLC grew its holdings in Viad by 2.8% during the second quarter. ClariVest Asset Management LLC now owns 22,553 shares of the business services provider’s stock worth $767,000 after acquiring an additional 612 shares during the period. Finally, Illinois Municipal Retirement Fund grew its stake in shares of Viad by 5.2% in the 1st quarter. Illinois Municipal Retirement Fund now owns 12,609 shares of the business services provider’s stock worth $498,000 after purchasing an additional 619 shares during the last quarter. 89.91% of the stock is currently owned by institutional investors.

About Viad

Viad Corp provides hospitality, leisure activities, experiential marketing, and live events in the United States, Canada, Europe, the Middle East, and Africa. It operates in three segments: Pursuit, Spiro, and GES Exhibitions. The Pursuit segment offers recreational attractions, hotels and lodges, food and beverage, retail, sightseeing, and ground transportation services.