Victory Capital (NASDAQ:VCTR) Trading Up 8.3% After Earnings Beat

Victory Capital Holdings, Inc. (NASDAQ:VCTR)’s share price was up 8.3% during trading on Friday following a stronger than expected earnings report. The company traded as high as $70.75 and last traded at $71.12. Approximately 78,956 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 287,367 shares. The stock had previously closed at $65.64.

The company reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.07. Victory Capital had a return on equity of 29.92% and a net margin of 30.82%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on VCTR. B. Riley reissued a “neutral” rating and set a $60.00 price objective (up from $57.00) on shares of Victory Capital in a report on Tuesday, January 7th. Morgan Stanley increased their price objective on shares of Victory Capital from $64.00 to $66.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. UBS Group lifted their target price on shares of Victory Capital from $49.00 to $64.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Royal Bank of Canada upped their target price on shares of Victory Capital from $61.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. Finally, BMO Capital Markets raised their price target on Victory Capital from $71.00 to $78.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $65.11.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Contravisory Investment Management Inc. increased its position in Victory Capital by 53.2% during the third quarter. Contravisory Investment Management Inc. now owns 573 shares of the company’s stock worth $32,000 after buying an additional 199 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Victory Capital by 367.5% during the third quarter. Farther Finance Advisors LLC now owns 575 shares of the company’s stock worth $32,000 after purchasing an additional 452 shares during the period. Principal Securities Inc. raised its position in shares of Victory Capital by 35.2% in the fourth quarter. Principal Securities Inc. now owns 603 shares of the company’s stock valued at $39,000 after buying an additional 157 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Victory Capital during the 4th quarter worth $43,000. Finally, USA Financial Formulas lifted its position in shares of Victory Capital by 157.9% during the 3rd quarter. USA Financial Formulas now owns 1,104 shares of the company’s stock valued at $61,000 after acquiring an additional 676 shares during the period. 87.71% of the stock is owned by institutional investors and hedge funds.

Victory Capital Trading Up 6.8 %

The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.19 and a current ratio of 1.19. The company has a market capitalization of $4.56 billion, a price-to-earnings ratio of 17.44, a price-to-earnings-growth ratio of 0.56 and a beta of 0.89. The firm has a fifty day moving average price of $65.43 and a 200-day moving average price of $59.77.

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.