Viad Corp (NYSE:VVI) Short Interest Down 14.5% in July

Viad Corp (NYSE:VVI) was the target of a significant decline in short interest during the month of July. As of July 31st, there was short interest totalling 293,700 shares, a decline of 14.5% from the June 30th total of 343,600 shares. Currently, 1.5% of the company’s stock are short sold. Based on an average daily trading volume, of 119,200 shares, the days-to-cover ratio is presently 2.5 days.

Shares of VVI stock traded up $0.58 during mid-day trading on Tuesday, hitting $67.59. The company’s stock had a trading volume of 225 shares, compared to its average volume of 118,367. Viad has a 52-week low of $46.17 and a 52-week high of $72.27. The company has a 50-day moving average of $68.53. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.45 and a current ratio of 0.49. The firm has a market capitalization of $1.37 billion, a PE ratio of 28.97 and a beta of 0.67.

Viad (NYSE:VVI) last posted its quarterly earnings results on Thursday, July 25th. The business services provider reported $1.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.37 by $0.07. Viad had a return on equity of 11.24% and a net margin of 2.32%. The firm had revenue of $402.30 million during the quarter, compared to analysts’ expectations of $398.50 million. During the same quarter in the previous year, the business earned $1.20 earnings per share. The company’s revenue was up 10.6% on a year-over-year basis. As a group, equities research analysts predict that Viad will post 2.69 EPS for the current fiscal year.

Several research firms have recently weighed in on VVI. ValuEngine upgraded Viad from a “hold” rating to a “buy” rating in a research note on Tuesday, May 14th. Zacks Investment Research upgraded Viad from a “hold” rating to a “strong-buy” rating and set a $80.00 price target for the company in a research note on Friday, July 19th.

In other Viad news, Director Robert E. Munzenrider sold 2,000 shares of Viad stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $62.91, for a total transaction of $125,820.00. Following the completion of the transaction, the director now owns 21,025 shares in the company, valued at $1,322,682.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of VVI. Advisory Services Network LLC bought a new stake in shares of Viad in the second quarter worth $32,000. Investors Research Corp bought a new stake in shares of Viad in the first quarter worth $28,000. Quantamental Technologies LLC grew its holdings in shares of Viad by 111.3% in the first quarter. Quantamental Technologies LLC now owns 1,139 shares of the business services provider’s stock worth $64,000 after acquiring an additional 600 shares during the period. Bank of Montreal Can grew its holdings in shares of Viad by 242.3% in the second quarter. Bank of Montreal Can now owns 2,372 shares of the business services provider’s stock worth $157,000 after acquiring an additional 1,679 shares during the period. Finally, Janus Henderson Group PLC bought a new stake in shares of Viad in the first quarter worth $206,000. Hedge funds and other institutional investors own 88.71% of the company’s stock.

About Viad

Viad Corp operates as an experiential services company in the United States, Canada, the United Kingdom, continental Europe, and the United Arab Emirates. It operates in two business groups, GES and Pursuit. The company offers event planning and production, look and feel design, layout and floor plan designs, furnishings and carpet, show traffic analysis, marketing and strategy, electrical distribution, cleaning, plumbing, overhead and booth rigging, and material handling services; and signage products and common area structures.

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