VIZIO Holding Corp. (NYSE:VZIO) Short Interest Update

VIZIO Holding Corp. (NYSE:VZIOGet Rating) was the recipient of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 2,280,000 shares, a drop of 26.5% from the March 15th total of 3,100,000 shares. Based on an average daily volume of 702,900 shares, the days-to-cover ratio is presently 3.2 days. Currently, 5.1% of the shares of the company are short sold.

In related news, COO Ben Bun Wong sold 40,000 shares of VIZIO stock in a transaction dated Wednesday, February 2nd. The shares were sold at an average price of $14.44, for a total value of $577,600.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last quarter, insiders sold 120,000 shares of company stock worth $1,812,800.

Several institutional investors have recently added to or reduced their stakes in VZIO. Morgan Stanley purchased a new position in shares of VIZIO in the second quarter worth approximately $708,000. Bank of America Corp DE increased its position in shares of VIZIO by 1,388.6% in the second quarter. Bank of America Corp DE now owns 28,878 shares of the company’s stock worth $779,000 after acquiring an additional 26,938 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of VIZIO by 11,265.0% in the second quarter. Wells Fargo & Company MN now owns 22,730 shares of the company’s stock worth $614,000 after acquiring an additional 22,530 shares in the last quarter. New York State Common Retirement Fund purchased a new position in shares of VIZIO in the third quarter worth approximately $1,427,000. Finally, Financial Management Professionals Inc. purchased a new position in shares of VIZIO in the third quarter worth approximately $83,000. 9.23% of the stock is currently owned by institutional investors and hedge funds.

Shares of VZIO traded down $0.16 during mid-day trading on Friday, hitting $8.04. The company’s stock had a trading volume of 619,645 shares, compared to its average volume of 715,160. The firm has a 50-day moving average price of $10.65 and a 200 day moving average price of $15.86. The stock has a market capitalization of $1.54 billion and a price-to-earnings ratio of -38.28. VIZIO has a fifty-two week low of $7.58 and a fifty-two week high of $28.80.

VIZIO (NYSE:VZIOGet Rating) last announced its quarterly earnings data on Thursday, March 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.13. The company had revenue of $628.80 million for the quarter, compared to analysts’ expectations of $695.86 million. VIZIO had a negative net margin of 1.85% and a negative return on equity of 12.52%. The company’s quarterly revenue was down 15.4% compared to the same quarter last year. Equities research analysts forecast that VIZIO will post 0.03 EPS for the current fiscal year.

Several brokerages recently weighed in on VZIO. Zacks Investment Research upgraded shares of VIZIO from a “sell” rating to a “hold” rating in a research report on Friday, March 4th. Needham & Company LLC lowered their target price on shares of VIZIO from $20.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, March 4th. Piper Sandler lowered their target price on shares of VIZIO from $29.00 to $21.00 in a research note on Friday, March 4th. Finally, Barrington Research lowered their target price on shares of VIZIO from $27.00 to $17.00 in a research note on Monday, March 7th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $26.09.

About VIZIO (Get Rating)

VIZIO Holding Corp., through its subsidiaries, provides smart televisions, sound bars, and accessories in the United States. It also operates Platform+ that comprises SmartCast, a Smart TV operating system, enabling integrated home entertainment solution, and data intelligence and services products through Inscape.

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