Readystate Asset Management LP Makes New Investment in Visteon Co. (NASDAQ:VC)

Readystate Asset Management LP acquired a new stake in Visteon Co. (NASDAQ:VC - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,226 shares of the company's stock, valued at approximately $593,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Signaturefd LLC raised its position in Visteon by 70.8% in the second quarter. Signaturefd LLC now owns 287 shares of the company's stock valued at $31,000 after purchasing an additional 119 shares during the period. nVerses Capital LLC increased its position in shares of Visteon by 22.2% during the second quarter. nVerses Capital LLC now owns 1,100 shares of the company's stock worth $117,000 after acquiring an additional 200 shares during the last quarter. Covestor Ltd increased its position in shares of Visteon by 14.8% during the third quarter. Covestor Ltd now owns 1,567 shares of the company's stock worth $149,000 after acquiring an additional 202 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of Visteon by 7.2% during the third quarter. State of Alaska Department of Revenue now owns 3,221 shares of the company's stock worth $306,000 after acquiring an additional 215 shares during the last quarter. Finally, KBC Group NV increased its position in shares of Visteon by 37.7% during the third quarter. KBC Group NV now owns 902 shares of the company's stock worth $86,000 after acquiring an additional 247 shares during the last quarter. 99.71% of the stock is owned by hedge funds and other institutional investors.

Visteon Stock Performance

Visteon stock traded down $0.86 on Friday, reaching $93.21. 289,516 shares of the stock were exchanged, compared to its average volume of 276,613. The stock has a market cap of $2.57 billion, a PE ratio of 5.03, a PEG ratio of 0.45 and a beta of 1.44. The company has a current ratio of 1.82, a quick ratio of 1.47 and a debt-to-equity ratio of 0.24. Visteon Co. has a twelve month low of $86.27 and a twelve month high of $131.70. The firm has a fifty day moving average price of $92.16 and a two-hundred day moving average price of $99.74.

Visteon (NASDAQ:VC - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The company reported $2.26 EPS for the quarter, beating analysts' consensus estimates of $1.89 by $0.37. The business had revenue of $980.00 million during the quarter, compared to analyst estimates of $965.60 million. Visteon had a net margin of 13.22% and a return on equity of 46.19%. The firm's revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.35 earnings per share. Sell-side analysts anticipate that Visteon Co. will post 8.2 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $124.00 target price on shares of Visteon in a research note on Tuesday, September 10th. StockNews.com downgraded Visteon from a "buy" rating to a "hold" rating in a research note on Sunday, November 3rd. The Goldman Sachs Group decreased their target price on Visteon from $130.00 to $117.00 and set a "buy" rating for the company in a research note on Tuesday, October 1st. Wells Fargo & Company upgraded Visteon from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $115.00 to $122.00 in a research note on Friday, September 20th. Finally, Barclays decreased their target price on Visteon from $145.00 to $140.00 and set an "overweight" rating for the company in a research note on Tuesday, October 15th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $127.57.

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.