Raymond James & Associates Lowers Stake in Viad Corp (NYSE:VVI)

Raymond James & Associates reduced its holdings in shares of Viad Corp (NYSE:VVI) by 0.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 121,515 shares of the business services provider’s stock after selling 1,086 shares during the period. Raymond James & Associates owned approximately 0.58% of Viad worth $4,354,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale purchased a new position in Viad during the 2nd quarter worth $38,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Viad by 63.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,483 shares of the business services provider’s stock worth $152,000 after purchasing an additional 1,748 shares during the last quarter. Lazard Asset Management LLC purchased a new position in Viad during the 1st quarter worth $228,000. Squarepoint Ops LLC purchased a new position in Viad during the 2nd quarter worth $228,000. Finally, The Manufacturers Life Insurance Company grew its position in Viad by 4.5% during the 2nd 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 during the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

Viad Stock Down 0.1 %

VVI stock opened at $37.42 on Friday. Viad Corp has a one year low of $24.62 and a one year high of $45.61. The stock has a market capitalization of $791.81 million, a PE ratio of 143.92, a price-to-earnings-growth ratio of 2.27 and a beta of 2.04. 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 company has a fifty day moving average of $35.61 and a 200-day moving average of $34.79.

Viad (NYSE:VVI) last announced its quarterly earnings data on Tuesday, August 6th. The business services provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.77 by $0.20. Viad had a net margin of 2.30% and a return on equity of 29.43%. The firm had revenue of $378.54 million during the quarter, compared to analysts’ expectations of $358.72 million. During the same quarter last year, the business earned $0.36 earnings per share. As a group, analysts expect that Viad Corp will post 1.1 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. StockNews.com raised shares of Viad from a “sell” rating to a “hold” rating in a research report on Wednesday, August 7th. Oppenheimer restated an “outperform” rating and issued a $41.00 target price on shares of Viad in a research note on Tuesday, September 17th. Finally, B. Riley restated a “buy” rating and issued a $42.00 target price (down previously from $46.00) on shares of Viad in a research note on Monday, August 12th.

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.