Viad (NYSE:VVI) Sees Strong Trading Volume - Here's Why

Viad Corp (NYSE:VVI - Get Free Report) shares saw unusually-high trading volume on Wednesday . Approximately 62,491 shares traded hands during trading, a decline of 33% from the previous session's volume of 93,083 shares.The stock last traded at $41.62 and had previously closed at $41.91.

Wall Street Analyst Weigh In

VVI has been the topic of a number of research analyst reports. B. Riley reiterated a "buy" rating and set a $42.00 price target (down previously from $46.00) on shares of Viad in a report on Monday, August 12th. StockNews.com raised shares of Viad from a "sell" rating to a "hold" rating in a research report on Wednesday, August 7th. Finally, Oppenheimer reiterated an "outperform" rating and issued a $41.00 price objective on shares of Viad in a report on Tuesday, September 17th.

Viad Trading Down 3.0 %

The company's 50 day moving average is $34.67 and its two-hundred day moving average is $34.65. The company has a debt-to-equity ratio of 3.73, a current ratio of 1.07 and a quick ratio of 1.02. The firm has a market cap of $858.64 million, a P/E ratio of -106.95, a PEG ratio of 2.15 and a beta of 2.04.

Viad (NYSE:VVI - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The business services provider reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $0.20. The firm had revenue of $378.54 million for the quarter, compared to the consensus estimate of $358.72 million. Viad had a net margin of 2.30% and a return on equity of 29.43%. During the same quarter in the previous year, the company earned $0.36 earnings per share. On average, sell-side analysts predict that Viad Corp will post 1.1 earnings per share for the current year.

Institutional Investors Weigh In On Viad

Several institutional investors and hedge funds have recently made changes to their positions in VVI. The Manufacturers Life Insurance Company lifted its holdings in Viad by 4.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,107 shares of the business services provider's stock valued at $276,000 after purchasing an additional 350 shares during the last quarter. Rhumbline Advisers grew its position in Viad by 0.6% during the 2nd quarter. Rhumbline Advisers now owns 61,437 shares of the business services provider's stock worth $2,089,000 after acquiring an additional 375 shares during the last quarter. Texas Permanent School Fund Corp grew its position in Viad by 2.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 18,308 shares of the business services provider's stock worth $723,000 after acquiring an additional 414 shares during the last quarter. ClariVest Asset Management LLC increased its holdings in Viad by 2.8% during the 2nd quarter. ClariVest Asset Management LLC now owns 22,553 shares of the business services provider's stock valued at $767,000 after purchasing an additional 612 shares in the last quarter. Finally, Illinois Municipal Retirement Fund raised its position in Viad by 5.2% in the 1st quarter. Illinois Municipal Retirement Fund now owns 12,609 shares of the business services provider's stock valued at $498,000 after purchasing an additional 619 shares during the last quarter. Institutional investors and hedge funds own 89.91% of the company's stock.

Viad Company Profile

Viad Corp provides hospitality, leisure activities, experiential marketing, and live events in the United States, Canada, Europe, the Middle East, and Africa. It operates in three segments: Pursuit, Spiro, and GES Exhibitions. The Pursuit segment offers recreational attractions, hotels and lodges, food and beverage, retail, sightseeing, and ground transportation services.