Raymond James Financial Inc. Buys Shares of 121,579 Virgin Galactic Holdings, Inc. (NYSE:SPCE)

Raymond James Financial Inc. acquired a new stake in Virgin Galactic Holdings, Inc. (NYSE:SPCE - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 121,579 shares of the company's stock, valued at approximately $715,000. Raymond James Financial Inc. owned approximately 0.42% of Virgin Galactic at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bank of New York Mellon Corp grew its holdings in Virgin Galactic by 6.8% during the 4th quarter. Bank of New York Mellon Corp now owns 60,688 shares of the company's stock worth $357,000 after acquiring an additional 3,888 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in shares of Virgin Galactic by 97.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,943 shares of the company's stock worth $47,000 after purchasing an additional 3,916 shares in the last quarter. Rhumbline Advisers increased its holdings in Virgin Galactic by 19.4% in the fourth quarter. Rhumbline Advisers now owns 33,205 shares of the company's stock valued at $195,000 after buying an additional 5,384 shares during the last quarter. FMR LLC raised its stake in Virgin Galactic by 29.7% in the third quarter. FMR LLC now owns 24,749 shares of the company's stock valued at $151,000 after buying an additional 5,669 shares in the last quarter. Finally, Quarry LP acquired a new stake in Virgin Galactic in the third quarter valued at $49,000. 46.62% of the stock is currently owned by hedge funds and other institutional investors.

Virgin Galactic Stock Performance

SPCE traded down $0.11 during trading on Thursday, hitting $2.55. 1,233,239 shares of the stock were exchanged, compared to its average volume of 1,853,791. The firm has a market capitalization of $90.42 million, a P/E ratio of -0.15 and a beta of 2.11. Virgin Galactic Holdings, Inc. has a 1-year low of $2.18 and a 1-year high of $28.20. The stock has a fifty day moving average price of $3.61 and a two-hundred day moving average price of $5.38. The company has a quick ratio of 4.52, a current ratio of 4.52 and a debt-to-equity ratio of 1.15.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. The Goldman Sachs Group dropped their price objective on Virgin Galactic from $41.00 to $36.00 and set a "neutral" rating on the stock in a report on Monday, March 3rd. Susquehanna dropped their price target on shares of Virgin Galactic from $4.00 to $3.25 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $19.85.

About Virgin Galactic

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.