VIZIO Holding Corp. (NYSE:VZIO) Sees Large Growth in Short Interest

VIZIO Holding Corp. (NYSE:VZIO) was the target of a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 27,030,000 shares, an increase of 26.0% from the August 31st total of 21,450,000 shares. Based on an average daily volume of 1,990,000 shares, the days-to-cover ratio is presently 13.6 days. Currently, 35.0% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reissued a “hold” rating on shares of VIZIO in a research report on Friday, June 21st. Nine research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, VIZIO currently has an average rating of “Hold” and a consensus target price of $10.81.

Insider Activity at VIZIO

In related news, insider Michael Joseph O’donnell sold 2,555 shares of VIZIO stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $11.13, for a total value of $28,437.15. Following the completion of the sale, the insider now owns 602,364 shares of the company’s stock, valued at approximately $6,704,311.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 44.68% of the stock is currently owned by insiders.

Hedge Funds Weigh In On VIZIO

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Water Island Capital LLC boosted its holdings in shares of VIZIO by 11.0% in the 2nd quarter. Water Island Capital LLC now owns 3,192,078 shares of the company’s stock worth $34,474,000 after buying an additional 315,757 shares during the last quarter. Algert Global LLC boosted its holdings in shares of VIZIO by 24.3% in the 2nd quarter. Algert Global LLC now owns 40,746 shares of the company’s stock worth $440,000 after buying an additional 7,976 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of VIZIO by 18.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 34,993 shares of the company’s stock worth $378,000 after buying an additional 5,405 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of VIZIO by 10.6% in the 2nd quarter. Millennium Management LLC now owns 996,278 shares of the company’s stock worth $10,760,000 after buying an additional 95,144 shares during the last quarter. Finally, Gabelli Funds LLC boosted its holdings in shares of VIZIO by 32.7% in the 2nd quarter. Gabelli Funds LLC now owns 1,186,716 shares of the company’s stock worth $12,817,000 after buying an additional 292,416 shares during the last quarter. 66.24% of the stock is owned by hedge funds and other institutional investors.

VIZIO Stock Performance

VZIO traded down $0.02 during mid-day trading on Friday, reaching $11.21. 1,543,450 shares of the stock were exchanged, compared to its average volume of 2,403,954. The stock has a market capitalization of $2.25 billion, a PE ratio of 124.57 and a beta of 2.04. The company has a 50 day moving average price of $11.13 and a two-hundred day moving average price of $10.90. VIZIO has a 1 year low of $4.82 and a 1 year high of $11.30.

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.