Castleark Management LLC lowered its stake in shares of Visteon Corporation (NYSE:VC) by 38.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 92,060 shares of the auto parts company’s stock after selling 56,635 shares during the quarter. Castleark Management LLC owned 0.30% of Visteon Corporation worth $9,396,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its position in Visteon Corporation by 2,531.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,000 shares of the auto parts company’s stock valued at $102,000 after acquiring an additional 962 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Visteon Corporation by 6.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,040 shares of the auto parts company’s stock valued at $106,000 after acquiring an additional 61 shares during the last quarter. Quantbot Technologies LP grew its position in Visteon Corporation by 2.8% in the 2nd quarter. Quantbot Technologies LP now owns 1,089 shares of the auto parts company’s stock valued at $111,000 after acquiring an additional 30 shares during the last quarter. BNP Paribas Arbitrage SA grew its position in Visteon Corporation by 64.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,340 shares of the auto parts company’s stock valued at $137,000 after acquiring an additional 526 shares during the last quarter. Finally, Riverhead Capital Management LLC bought a new position in Visteon Corporation in the 2nd quarter valued at $153,000.
In other Visteon Corporation news, insider Robert R. Vallance sold 1,106 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $121.12, for a total transaction of $133,958.72. Following the transaction, the insider now owns 4,086 shares in the company, valued at approximately $494,896.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sunil K. Bilolikar sold 2,394 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $110.93, for a total value of $265,566.42. Following the transaction, the insider now owns 300 shares in the company, valued at approximately $33,279. The disclosure for this sale can be found here. Insiders have sold a total of 5,371 shares of company stock worth $616,016 in the last quarter. 0.19% of the stock is currently owned by insiders.
Visteon Corporation (NYSE:VC) last released its earnings results on Thursday, July 27th. The auto parts company reported $1.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.14. Visteon Corporation had a return on equity of 27.56% and a net margin of 4.35%. The company had revenue of $774.00 million for the quarter, compared to analysts’ expectations of $770.96 million. During the same quarter in the previous year, the firm posted $1.22 EPS. The firm’s quarterly revenue was up .1% on a year-over-year basis.
A number of equities research analysts recently weighed in on VC shares. BMO Capital Markets upgraded Visteon Corporation from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $96.00 to $85.00 in a research note on Monday, June 26th. Zacks Investment Research cut Visteon Corporation from a “buy” rating to a “hold” rating in a research note on Thursday. BidaskClub cut Visteon Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, June 21st. Royal Bank Of Canada reiterated a “hold” rating and issued a $115.00 price target on shares of Visteon Corporation in a research note on Tuesday, October 3rd. Finally, J P Morgan Chase & Co reiterated an “overweight” rating and issued a $110.00 price target on shares of Visteon Corporation in a research note on Wednesday, June 21st. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $115.62.
About Visteon Corporation
Visteon Corporation is a global automotive supplier that designs, engineers and manufactures electronics products for original equipment vehicle manufacturer (OEM), including Ford, Mazda, Nissan/Renault, General Motors, Honda BMW and Daimler. The Company operates through Electronics segment. The Electronics segment provides vehicle cockpit electronics products to customers, including instrument clusters, information displays, infotainment, audio systems, telematics solutions and head up displays.
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