Viad (NYSE:VVI) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Sunday.
Separately, Zacks Investment Research lowered shares of Viad from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 28th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $53.13.
Shares of Viad (NYSE VVI) opened at $55.40 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.60 and a current ratio of 0.71. Viad has a 1 year low of $42.05 and a 1 year high of $61.85. The stock has a market cap of $1,130.80, a PE ratio of 15.01 and a beta of 0.51.
In other news, Director Robert E. Munzenrider sold 2,100 shares of the stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $56.01, for a total transaction of $117,621.00. Following the completion of the sale, the director now directly owns 21,179 shares in the company, valued at $1,186,235.79. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.00% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in VVI. FMR LLC raised its stake in Viad by 52.3% in the second quarter. FMR LLC now owns 730,850 shares of the business services provider’s stock worth $34,533,000 after buying an additional 250,850 shares in the last quarter. TimesSquare Capital Management LLC increased its stake in shares of Viad by 103.1% during the third quarter. TimesSquare Capital Management LLC now owns 405,840 shares of the business services provider’s stock valued at $24,716,000 after purchasing an additional 206,000 shares in the last quarter. Kennedy Capital Management Inc. increased its stake in shares of Viad by 65.7% during the second quarter. Kennedy Capital Management Inc. now owns 166,780 shares of the business services provider’s stock valued at $7,880,000 after purchasing an additional 66,131 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Viad by 8.9% during the second quarter. Wells Fargo & Company MN now owns 718,952 shares of the business services provider’s stock valued at $33,971,000 after purchasing an additional 58,568 shares in the last quarter. Finally, Brandywine Global Investment Management LLC bought a new position in shares of Viad during the second quarter valued at approximately $2,752,000. 86.07% of the stock is owned by institutional investors.
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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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