Rhumbline Advisers Sells 438,915 Shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE)

Rhumbline Advisers reduced its stake in Virgin Galactic Holdings, Inc. (NYSE:SPCE) by 93.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,560 shares of the company’s stock after selling 438,915 shares during the quarter. Rhumbline Advisers owned about 0.14% of Virgin Galactic worth $249,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of SPCE. Charles Schwab Investment Management Inc. raised its holdings in Virgin Galactic by 14.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,707,073 shares of the company’s stock valued at $6,632,000 after buying an additional 349,300 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Virgin Galactic in the first quarter worth about $268,000. Bayesian Capital Management LP bought a new stake in shares of Virgin Galactic in the first quarter worth about $35,000. American International Group Inc. increased its holdings in Virgin Galactic by 7.9% during the 1st quarter. American International Group Inc. now owns 176,181 shares of the company’s stock valued at $261,000 after purchasing an additional 12,970 shares during the period. Finally, Caxton Associates LP raised its position in Virgin Galactic by 52.9% during the 1st quarter. Caxton Associates LP now owns 562,404 shares of the company’s stock valued at $832,000 after purchasing an additional 194,675 shares during the last quarter. 46.62% of the stock is currently owned by institutional investors.

Virgin Galactic Price Performance

Shares of SPCE stock opened at $6.22 on Friday. Virgin Galactic Holdings, Inc. has a fifty-two week low of $5.26 and a fifty-two week high of $54.60. The company has a debt-to-equity ratio of 1.06, a quick ratio of 4.71 and a current ratio of 4.71. The firm has a market capitalization of $127.93 million, a price-to-earnings ratio of -0.25 and a beta of 1.72. The stock’s 50-day simple moving average is $6.45 and its 200-day simple moving average is $13.82.

Virgin Galactic (NYSE:SPCE) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($4.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($5.40) by $1.04. Virgin Galactic had a negative return on equity of 83.64% and a negative net margin of 3,764.43%. The business had revenue of $4.22 million during the quarter, compared to analyst estimates of $3.50 million. During the same quarter last year, the business posted ($9.20) EPS. As a group, equities analysts forecast that Virgin Galactic Holdings, Inc. will post -18.82 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Susquehanna cut their price objective on Virgin Galactic from $8.00 to $6.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. The Goldman Sachs Group cut their price target on shares of Virgin Galactic from $61.00 to $53.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Finally, Morgan Stanley reduced their price objective on shares of Virgin Galactic from $35.00 to $5.00 and set an “underweight” rating on the stock in a research report on Tuesday, September 17th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $26.50.

Virgin Galactic Company Profile

Virgin Galactic Holdings, Inc, an aerospace and space travel company, focuses on the development, manufacture, and operation of spaceships and related technologies. The company engages in the design and development, manufacturing, ground and flight testing, spaceflight operation, and post-flight maintenance of spaceflight systems for private individuals, researchers, and government agencies.