Virco Manufacturing (NASDAQ:VIRC) Shares Pass Above 200 Day Moving Average – What’s Next?
by Sarita Garza · The Markets DailyVirco Manufacturing Corporation (NASDAQ:VIRC – Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.31 and traded as high as $6.56. Virco Manufacturing shares last traded at $6.48, with a volume of 55,128 shares.
Wall Street Analyst Weigh In
VIRC has been the subject of several recent analyst reports. Freedom Capital cut shares of Virco Manufacturing from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 4th. Weiss Ratings cut shares of Virco Manufacturing from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, April 10th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Virco Manufacturing presently has a consensus rating of “Reduce”.
Check Out Our Latest Analysis on Virco Manufacturing
Virco Manufacturing Stock Up 5.4%
The company has a debt-to-equity ratio of 0.03, a current ratio of 2.71 and a quick ratio of 0.90. The company has a market cap of $101.93 million, a price-to-earnings ratio of -107.98 and a beta of 0.21. The firm’s 50 day simple moving average is $6.02 and its 200-day simple moving average is $6.31.
Virco Manufacturing (NASDAQ:VIRC – Get Free Report) last released its quarterly earnings data on Wednesday, June 3rd. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.19). Virco Manufacturing had a negative net margin of 0.48% and a negative return on equity of 0.16%. The company had revenue of $30.69 million during the quarter, compared to analyst estimates of $27.20 million.
Virco Manufacturing Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 19th will be issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Thursday, June 18th. Virco Manufacturing’s dividend payout ratio is presently -166.67%.
Insider Activity at Virco Manufacturing
In other Virco Manufacturing news, EVP Douglas A. Virtue bought 11,678 shares of Virco Manufacturing stock in a transaction dated Wednesday, April 15th. The stock was acquired at an average cost of $6.09 per share, with a total value of $71,119.02. Following the completion of the acquisition, the executive vice president owned 877,866 shares of the company’s stock, valued at approximately $5,346,203.94. This represents a 1.35% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have bought 22,527 shares of company stock valued at $135,562 over the last three months. 16.94% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Virco Manufacturing
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Minerva Advisors LLC raised its holdings in shares of Virco Manufacturing by 6.3% in the fourth quarter. Minerva Advisors LLC now owns 1,448,198 shares of the company’s stock valued at $9,254,000 after buying an additional 85,696 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Virco Manufacturing by 25.7% in the first quarter. AQR Capital Management LLC now owns 317,915 shares of the company’s stock valued at $3,007,000 after buying an additional 64,944 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Virco Manufacturing by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 265,554 shares of the company’s stock valued at $1,697,000 after buying an additional 4,355 shares during the last quarter. Bridgeway Capital Management LLC increased its stake in shares of Virco Manufacturing by 3.4% during the fourth quarter. Bridgeway Capital Management LLC now owns 95,057 shares of the company’s stock worth $607,000 after acquiring an additional 3,095 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in shares of Virco Manufacturing by 32.0% during the second quarter. Ameriprise Financial Inc. now owns 82,517 shares of the company’s stock worth $658,000 after acquiring an additional 20,004 shares during the period. 30.97% of the stock is owned by hedge funds and other institutional investors.
About Virco Manufacturing
Virco Manufacturing Corporation (NASDAQ: VIRC) is a leading American manufacturer of furniture, primarily serving the K-12 education market. Headquartered in Torrance, California, the company designs, produces and distributes a comprehensive range of classroom seating, student desks, tables and educational workstations. Over several decades, Virco has built a reputation for durable, cost-effective solutions tailored to the needs of schools, colleges and other institutional customers.
The company’s product portfolio includes molded plastic and wood-seat student chairs, modular and fixed-height desks, multi-purpose tables, computer furniture, laboratory stools and teacher furnishings.