Victory Capital (NASDAQ:VCTR) Shares Gap Up – Should You Buy?

Victory Capital Holdings, Inc. (NASDAQ:VCTR) gapped up prior to trading on Friday . The stock had previously closed at $63.51, but opened at $67.58. Victory Capital shares last traded at $64.13, with a volume of 21,653 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on VCTR shares. BMO Capital Markets lifted their target price on shares of Victory Capital from $61.00 to $69.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group raised their price target on shares of Victory Capital from $59.50 to $60.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Barclays started coverage on Victory Capital in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $58.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on shares of Victory Capital from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Finally, UBS Group increased their price objective on shares of Victory Capital from $49.00 to $64.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $59.67.

Victory Capital Stock Performance

The business has a 50-day moving average price of $56.79 and a 200-day moving average price of $52.77. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $4.15 billion, a price-to-earnings ratio of 17.89, a P/E/G ratio of 0.69 and a beta of 0.90.

Victory Capital (NASDAQ:VCTR) last issued its earnings results on Thursday, August 8th. The company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.04. Victory Capital had a return on equity of 29.74% and a net margin of 27.87%. The company had revenue of $219.62 million during the quarter, compared to analyst estimates of $220.82 million. As a group, sell-side analysts forecast that Victory Capital Holdings, Inc. will post 5.2 earnings per share for the current year.

Institutional Investors Weigh In On Victory Capital

Hedge funds have recently modified their holdings of the business. Capital World Investors increased its stake in Victory Capital by 85.8% during the 1st quarter. Capital World Investors now owns 2,221,954 shares of the company’s stock worth $94,278,000 after buying an additional 1,025,954 shares during the period. Swedbank AB increased its position in shares of Victory Capital by 7.1% during the second quarter. Swedbank AB now owns 750,000 shares of the company’s stock worth $35,798,000 after purchasing an additional 50,000 shares in the last quarter. Sei Investments Co. grew its stake in Victory Capital by 106.7% during the 1st quarter. Sei Investments Co. now owns 113,254 shares of the company’s stock worth $4,805,000 after buying an additional 58,458 shares during the last quarter. Inspire Investing LLC acquired a new position in Victory Capital during the first quarter worth approximately $884,000. Finally, Acadian Asset Management LLC lifted its stake in Victory Capital by 73.0% in the first quarter. Acadian Asset Management LLC now owns 416,120 shares of the company’s stock valued at $17,649,000 after buying an additional 175,576 shares during the last quarter. 87.71% of the stock is currently owned by institutional investors and hedge funds.

About Victory Capital

Victory Capital Holdings, Inc, together with its subsidiaries, operates as an asset management company in the United States and internationally. It offers investment advisory, fund administration, fund compliance, fund transfer agent, fund distribution, and other management services. The company provides specialized investment strategies to institutions, intermediaries, retirement platforms, and individual investors.