Deerfield Management Company L.P. Series C Lowers Stock Position in Visteon Co. (NASDAQ:VC)

Deerfield Management Company L.P. Series C trimmed its position in Visteon Co. (NASDAQ:VC) by 5.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,996 shares of the company’s stock after selling 112 shares during the quarter. Deerfield Management Company L.P. Series C’s holdings in Visteon were worth $213,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nebula Research & Development LLC purchased a new position in shares of Visteon in the fourth quarter valued at about $1,443,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Visteon by 20.5% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 116,655 shares of the company’s stock valued at $13,720,000 after buying an additional 19,826 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Visteon by 35.6% in the first quarter. Clearbridge Investments LLC now owns 117,490 shares of the company’s stock worth $13,818,000 after buying an additional 30,818 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Visteon by 85.0% during the first quarter. BNP Paribas Financial Markets now owns 38,794 shares of the company’s stock worth $4,563,000 after acquiring an additional 17,821 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new position in Visteon during the first quarter valued at $583,000. Institutional investors own 99.71% of the company’s stock.

Insider Activity

In related news, SVP Joao Paulo Ribeiro sold 3,859 shares of Visteon stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $111.73, for a total transaction of $431,166.07. Following the completion of the sale, the senior vice president now owns 5,988 shares in the company, valued at approximately $669,039.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on VC. Robert W. Baird reissued a “neutral” rating and set a $120.00 price objective (down previously from $137.00) on shares of Visteon in a report on Friday, July 12th. TD Cowen dropped their price target on Visteon from $142.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, July 26th. Baird R W cut Visteon from a “strong-buy” rating to a “hold” rating in a report on Friday, July 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $124.00 price objective on shares of Visteon in a report on Tuesday, September 10th. Finally, Wolfe Research started coverage on Visteon in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $130.36.

Visteon Stock Up 1.0 %

Shares of NASDAQ VC opened at $97.29 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.85 and a quick ratio of 1.50. The company has a market cap of $2.69 billion, a P/E ratio of 5.56, a PEG ratio of 0.47 and a beta of 1.46. Visteon Co. has a 1 year low of $88.37 and a 1 year high of $142.20. The firm has a 50-day simple moving average of $99.74 and a two-hundred day simple moving average of $106.91.

Visteon (NASDAQ:VC) last issued its quarterly earnings results on Thursday, July 25th. The company reported $2.54 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.58. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.01 billion. Visteon had a return on equity of 51.69% and a net margin of 13.79%. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.18 earnings per share. Research analysts anticipate that Visteon Co. will post 8.06 earnings per share for the current year.

About Visteon

Visteon Corporation, an automotive technology company, designs, manufactures, and sells automotive electronics and connected car solutions for vehicle manufacturers worldwide. The company provides instrument clusters, including analog gauge clusters for 2-D and 3-D display-based devices; information displays that integrate a range of user interface technologies and graphics management capabilities, such as active privacy, TrueColor enhancement, local dimming, cameras, optics, haptic feedback, and light effects; and infotainment and connected car solutions, including scalable Android infotainment for seamless connectivity, as well as onboard artificial intelligence-based voice assistants with natural language understanding.