VIZIO (NYSE:VZIO) Sees Large Volume Increase

Shares of VIZIO Holding Corp. (NYSE:VZIO) saw strong trading volume on Tuesday . 4,459,566 shares were traded during trading, an increase of 64% from the previous session’s volume of 2,716,804 shares.The stock last traded at $10.97 and had previously closed at $10.93.

Wall Street Analyst Weigh In

A number of research firms have weighed in on VZIO. Needham & Company LLC reiterated a “hold” rating on shares of VIZIO in a research note on Tuesday, February 20th. TheStreet upgraded VIZIO from a “d+” rating to a “c-” rating in a research note on Tuesday, February 20th. B. Riley lowered VIZIO from a “buy” rating to a “neutral” rating and set a $11.50 price objective for the company. in a report on Tuesday, February 20th. Roth Capital lowered shares of VIZIO from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 21st. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $11.50 price target (up previously from $10.00) on shares of VIZIO in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $10.77.

VIZIO Stock Performance

The firm’s 50 day moving average is $9.52 and its 200-day moving average is $7.46. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 72.93, a PEG ratio of 2.16 and a beta of 2.14.

VIZIO (NYSE:VZIO) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. VIZIO had a net margin of 1.68% and a return on equity of 6.84%. The business had revenue of $502.60 million during the quarter, compared to the consensus estimate of $498.83 million. During the same quarter in the prior year, the firm posted $0.03 earnings per share. The company’s revenue was down 5.8% compared to the same quarter last year. As a group, sell-side analysts forecast that VIZIO Holding Corp. will post 0.2 earnings per share for the current year.

Insider Buying and Selling

In other VIZIO news, Director David Eugene Russell sold 300,000 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $9.91, for a total transaction of $2,973,000.00. Following the transaction, the director now owns 2,536,542 shares of the company’s stock, valued at $25,137,131.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 45.06% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On VIZIO

Several institutional investors have recently modified their holdings of the business. Point72 Middle East FZE acquired a new stake in shares of VIZIO during the 4th quarter worth about $46,000. Tower Research Capital LLC TRC boosted its stake in shares of VIZIO by 381.2% during the second quarter. Tower Research Capital LLC TRC now owns 7,877 shares of the company’s stock worth $53,000 after buying an additional 6,240 shares during the period. UBS Group AG raised its stake in shares of VIZIO by 88.9% during the third quarter. UBS Group AG now owns 6,378 shares of the company’s stock worth $56,000 after purchasing an additional 3,002 shares during the last quarter. AXQ Capital LP acquired a new stake in shares of VIZIO in the 3rd quarter worth $63,000. Finally, Legal & General Group Plc acquired a new position in VIZIO during the 2nd quarter worth approximately $66,000. Institutional investors and hedge funds own 66.24% of the company’s stock.

About VIZIO

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 entertainment solution, and data intelligence and services products through Inscape.