Bailard Inc. Takes $240,000 Position in Virco Mfg. Co. (NASDAQ:VIRC)

Bailard Inc. acquired a new stake in Virco Mfg. Co. (NASDAQ:VIRC) in the second quarter, HoldingsChannel.com reports. The fund acquired 17,245 shares of the company’s stock, valued at approximately $240,000.

Other hedge funds also recently made changes to their positions in the company. Lazard Asset Management LLC increased its stake in shares of Virco Mfg. by 115.6% during the first quarter. Lazard Asset Management LLC now owns 3,450 shares of the company’s stock worth $37,000 after purchasing an additional 1,850 shares during the period. LSV Asset Management bought a new position in shares of Virco Mfg. during the first quarter worth approximately $90,000. SG Americas Securities LLC bought a new position in Virco Mfg. during the 2nd quarter worth $127,000. Russell Investments Group Ltd. bought a new position in Virco Mfg. during the 4th quarter worth $160,000. Finally, Park Edge Advisors LLC bought a new position in Virco Mfg. during the 1st quarter worth $257,000. 30.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Wedbush restated an “outperform” rating and set a $19.00 price objective (up previously from $16.00) on shares of Virco Mfg. in a research note on Friday, June 7th. StockNews.com lowered Virco Mfg. from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 25th.

Virco Mfg. Trading Down 4.1 %

NASDAQ VIRC opened at $16.46 on Wednesday. The company has a quick ratio of 0.59, a current ratio of 2.30 and a debt-to-equity ratio of 0.07. Virco Mfg. Co. has a twelve month low of $4.35 and a twelve month high of $18.50. The company has a market cap of $266.82 million, a price-to-earnings ratio of 10.55 and a beta of 0.67. The business’s fifty day moving average is $15.46 and its 200 day moving average is $12.77.

Virco Mfg. (NASDAQ:VIRC) last released its quarterly earnings data on Friday, June 7th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.26. Virco Mfg. had a return on equity of 28.41% and a net margin of 9.07%. The company had revenue of $46.74 million for the quarter, compared to the consensus estimate of $37.70 million. As a group, sell-side analysts expect that Virco Mfg. Co. will post 1.86 EPS for the current fiscal year.

Virco Mfg. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 21st were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Friday, June 21st. Virco Mfg.’s dividend payout ratio (DPR) is 5.13%.

About Virco Mfg.

Virco Mfg. Corporation engages in the design, production, and distribution of furniture in the United States and Canada. The company offers seating products, including 4-leg chairs, cantilever chairs, mobile task chairs and lab stools, tablet armchairs, steel-frame and floor rockers, series stools, hard plastic seating, folding and upholstered stack chairs, and plastic stack and upholstered ergonomic chairs.