Inspire Advisors LLC Purchases Shares of 41,443 Virco Mfg. Co. (NASDAQ:VIRC)

Inspire Advisors LLC purchased a new position in shares of Virco Mfg. Co. (NASDAQ:VIRC - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 41,443 shares of the company's stock, valued at approximately $572,000. Inspire Advisors LLC owned 0.25% of Virco Mfg. at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Algert Global LLC raised its stake in shares of Virco Mfg. by 17.2% during the second quarter. Algert Global LLC now owns 12,158 shares of the company's stock worth $169,000 after purchasing an additional 1,785 shares during the last quarter. Lazard Asset Management LLC raised its position in Virco Mfg. by 115.6% during the 1st quarter. Lazard Asset Management LLC now owns 3,450 shares of the company's stock worth $37,000 after buying an additional 1,850 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of Virco Mfg. in the 2nd quarter worth $36,000. Ritholtz Wealth Management boosted its holdings in shares of Virco Mfg. by 7.0% in the third quarter. Ritholtz Wealth Management now owns 97,527 shares of the company's stock valued at $1,347,000 after acquiring an additional 6,399 shares in the last quarter. Finally, Inspire Investing LLC increased its stake in shares of Virco Mfg. by 12.5% during the third quarter. Inspire Investing LLC now owns 58,300 shares of the company's stock worth $805,000 after acquiring an additional 6,481 shares during the period. 30.97% of the stock is owned by hedge funds and other institutional investors.

Virco Mfg. Price Performance

Virco Mfg. stock traded up $0.28 during midday trading on Friday, reaching $14.82. The company's stock had a trading volume of 75,066 shares, compared to its average volume of 229,345. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.20 and a current ratio of 2.26. Virco Mfg. Co. has a fifty-two week low of $5.82 and a fifty-two week high of $18.50. The firm has a market capitalization of $241.42 million, a PE ratio of 8.98 and a beta of 0.64. The stock's 50 day simple moving average is $14.92 and its 200 day simple moving average is $13.89.

Virco Mfg. (NASDAQ:VIRC - Get Free Report) last issued its earnings results on Monday, September 9th. The company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.04. Virco Mfg. had a net margin of 9.50% and a return on equity of 27.88%. The company had revenue of $108.42 million for the quarter, compared to analyst estimates of $115.90 million. On average, equities research analysts forecast that Virco Mfg. Co. will post 1.93 earnings per share for the current year.

Virco Mfg. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 20th were paid a $0.025 dividend. This is an increase from Virco Mfg.'s previous quarterly dividend of $0.02. This represents a $0.10 annualized dividend and a yield of 0.67%. The ex-dividend date was Friday, September 20th. Virco Mfg.'s dividend payout ratio (DPR) is presently 6.06%.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Virco Mfg. from a "strong-buy" rating to a "buy" rating in a report on Thursday, July 25th.

Virco Mfg. Profile

Virco Mfg. Corporation engages in the design, production, and distribution of furniture in the United States and Canada. The company offers seating products, including 4-leg chairs, cantilever chairs, mobile task chairs and lab stools, tablet armchairs, steel-frame and floor rockers, series stools, hard plastic seating, folding and upholstered stack chairs, and plastic stack and upholstered ergonomic chairs.