Los Angeles Capital Management LLC Acquires 22,210 Shares of Viad Corp (NYSE:VVI)

Los Angeles Capital Management LLC raised its position in shares of Viad Corp (NYSE:VVI) by 227.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,968 shares of the business services provider’s stock after purchasing an additional 22,210 shares during the quarter. Los Angeles Capital Management LLC owned 0.15% of Viad worth $1,262,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in Viad by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 171,332 shares of the business services provider’s stock valued at $6,202,000 after purchasing an additional 1,545 shares in the last quarter. Panagora Asset Management Inc. increased its stake in Viad by 47.7% during the 4th quarter. Panagora Asset Management Inc. now owns 64,410 shares of the business services provider’s stock valued at $2,332,000 after purchasing an additional 20,803 shares in the last quarter. Algert Global LLC increased its stake in Viad by 30.9% during the 3rd quarter. Algert Global LLC now owns 35,070 shares of the business services provider’s stock valued at $919,000 after purchasing an additional 8,280 shares in the last quarter. Comerica Bank increased its stake in Viad by 2.0% during the 4th quarter. Comerica Bank now owns 33,730 shares of the business services provider’s stock valued at $1,221,000 after purchasing an additional 655 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in Viad by 19.5% during the 4th quarter. BNP Paribas Financial Markets now owns 24,338 shares of the business services provider’s stock valued at $881,000 after purchasing an additional 3,970 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on VVI shares. StockNews.com upgraded shares of Viad from a “sell” rating to a “hold” rating in a research note on Thursday, May 30th. B. Riley reiterated a “buy” rating and issued a $50.00 price target (up from $46.00) on shares of Viad in a research note on Wednesday, March 6th. Finally, TheStreet upgraded shares of Viad from a “d+” rating to a “c-” rating in a research note on Wednesday, March 20th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Viad presently has an average rating of “Moderate Buy” and an average target price of $44.33.

Viad Stock Performance

Shares of VVI stock opened at $34.17 on Monday. The company has a 50 day moving average price of $34.68 and a 200-day moving average price of $35.06. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 4.67. The firm has a market capitalization of $722.01 million, a PE ratio of -89.92, a P/E/G ratio of 1.41 and a beta of 2.03. Viad Corp has a 52 week low of $22.72 and a 52 week high of $39.98.

Viad (NYSE:VVI) last announced its earnings results on Thursday, May 2nd. The business services provider reported ($1.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.15). Viad had a net margin of 0.61% and a return on equity of 12.70%. The business had revenue of $273.50 million for the quarter, compared to analysts’ expectations of $271.11 million. As a group, equities research analysts expect that Viad Corp will post 1.62 earnings per share for the current year.

About Viad

Viad Corp provides hospitality, leisure activities, experiential marketing, and live events in the United States, Canada, Europe, the Middle East, and Africa. It operates in three segments: Pursuit, Spiro, and GES Exhibitions. The Pursuit segment offers recreational attractions, hotels and lodges, food and beverage, retail, sightseeing, and ground transportation services.