Bank of America Corp DE Acquires 13,202 Shares of Viad Corp (VVI)

Bank of America Corp DE raised its stake in shares of Viad Corp (NYSE:VVI) by 52.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,471 shares of the business services provider’s stock after buying an additional 13,202 shares during the period. Bank of America Corp DE’s holdings in Viad Corp were worth $1,739,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. State of Alaska Department of Revenue increased its position in shares of Viad Corp by 1.8% in the first quarter. State of Alaska Department of Revenue now owns 2,240 shares of the business services provider’s stock worth $101,000 after buying an additional 40 shares in the last quarter. Asset Management One Co. Ltd. purchased a new position in shares of Viad Corp during the first quarter worth about $151,000. LS Investment Advisors LLC increased its position in shares of Viad Corp by 374.8% in the first quarter. LS Investment Advisors LLC now owns 3,509 shares of the business services provider’s stock worth $159,000 after buying an additional 2,770 shares in the last quarter. Capital Fund Management S.A. purchased a new position in shares of Viad Corp during the first quarter worth about $208,000. Finally, Mason Street Advisors LLC increased its position in shares of Viad Corp by 7.0% in the first quarter. Mason Street Advisors LLC now owns 4,749 shares of the business services provider’s stock worth $215,000 after buying an additional 311 shares in the last quarter. 87.02% of the stock is owned by institutional investors and hedge funds.

Shares of Viad Corp (NYSE VVI) traded down 0.19% on Tuesday, reaching $53.75. 6,305 shares of the company were exchanged. Viad Corp has a 1-year low of $34.40 and a 1-year high of $54.75. The company has a 50-day moving average price of $49.78 and a 200 day moving average price of $46.22. The stock has a market capitalization of $1.10 billion, a PE ratio of 16.96 and a beta of 0.54.

Viad Corp (NYSE:VVI) last released its quarterly earnings results on Thursday, July 27th. The business services provider reported $1.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.26. The firm had revenue of $364.77 million during the quarter, compared to analysts’ expectations of $347.35 million. Viad Corp had a return on equity of 16.76% and a net margin of 4.85%. Viad Corp’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.04 EPS. On average, analysts forecast that Viad Corp will post $2.76 EPS for the current fiscal year.

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VVI has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of Viad Corp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 18th. BidaskClub upgraded shares of Viad Corp from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th.

About Viad Corp

Viad Corp is an international experiential services company. The Company operates through two main business groups: GES, which is a live event service provider to some of the visible and influential events and global brands, and Pursuit, which is a collection of destination travel experiences. GES conducts its operations through two geographical segments: GES U.S., which has full-service operations in exhibition market in the United States, including Las Vegas, Nevada; Chicago, Illinois; Orlando, Florida; New York, New York, and Los Angeles, California, and GES International, which had full-service operations at many of the event destinations and venues.

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Institutional Ownership by Quarter for Viad Corp (NYSE:VVI)

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