Needham & Company LLC Reiterates Hold Rating for VIZIO (NYSE:VZIO)

VIZIO (NYSE:VZIO)‘s stock had its “hold” rating reaffirmed by stock analysts at Needham & Company LLC in a research note issued on Friday, Benzinga reports.

Several other equities research analysts have also weighed in on VZIO. Barrington Research raised VIZIO from a “market perform” rating to an “outperform” rating in a research report on Wednesday, May 29th. Piper Sandler reissued a “neutral” rating and set a $11.50 target price (down previously from $12.00) on shares of VIZIO in a research report on Wednesday, February 28th. Finally, Wells Fargo & Company reissued an “equal weight” rating and set a $11.50 target price (up previously from $10.00) on shares of VIZIO in a research report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy 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

Shares of VZIO opened at $10.70 on Friday. The stock has a 50-day simple moving average of $10.66 and a 200-day simple moving average of $9.54. The stock has a market capitalization of $2.12 billion, a PE ratio of 118.90, a PEG ratio of 4.40 and a beta of 2.05. VIZIO has a 1 year low of $4.82 and a 1 year high of $11.28.

VIZIO (NYSE:VZIO) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.07). VIZIO had a net margin of 1.00% and a return on equity of 3.91%. The company had revenue of $353.90 million during the quarter, compared to analysts’ expectations of $373.95 million. The company’s revenue was down .8% on a year-over-year basis. Analysts predict that VIZIO will post 0.1 EPS for the current year.

Insiders Place Their Bets

In other news, COO Ben Bun Wong sold 59,449 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $10.53, for a total value of $625,997.97. Following the transaction, the chief operating officer now owns 3,261,702 shares of the company’s stock, valued at $34,345,722.06. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, COO Ben Bun Wong sold 59,449 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $10.53, for a total value of $625,997.97. Following the transaction, the chief operating officer now owns 3,261,702 shares of the company’s stock, valued at $34,345,722.06. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Adam R. Townsend sold 97,110 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $10.53, for a total value of $1,022,568.30. Following the completion of the transaction, the chief financial officer now directly owns 482,562 shares in the company, valued at approximately $5,081,377.86. The disclosure for this sale can be found here. Insiders have sold a total of 305,377 shares of company stock valued at $3,217,108 over the last quarter. Company insiders own 44.68% of the company’s stock.

Institutional Trading of VIZIO

A number of institutional investors have recently modified their holdings of VZIO. Charles Schwab Investment Management Inc. boosted its stake in shares of VIZIO by 54.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 719,379 shares of the company’s stock valued at $3,892,000 after buying an additional 253,750 shares in the last quarter. Dark Forest Capital Management LP purchased a new stake in shares of VIZIO in the third quarter valued at approximately $141,000. Algert Global LLC purchased a new stake in shares of VIZIO in the third quarter valued at approximately $2,265,000. Trexquant Investment LP boosted its stake in shares of VIZIO by 555.4% in the third quarter. Trexquant Investment LP now owns 220,523 shares of the company’s stock valued at $1,193,000 after buying an additional 186,875 shares in the last quarter. Finally, AXQ Capital LP purchased a new stake in shares of VIZIO in the third quarter valued at approximately $63,000. 66.24% of the stock is currently owned by hedge funds and other institutional investors.

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.