Virco Mfg. Co. (NASDAQ:VIRC) Shares Sold by Trexquant Investment LP

Trexquant Investment LP cut its holdings in shares of Virco Mfg. Co. (NASDAQ:VIRC - Free Report) by 36.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,800 shares of the company's stock after selling 24,489 shares during the period. Trexquant Investment LP owned 0.26% of Virco Mfg. worth $439,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. IFP Advisors Inc bought a new stake in Virco Mfg. during the 4th quarter worth about $30,000. Quantbot Technologies LP acquired a new stake in Virco Mfg. in the 4th quarter worth about $70,000. Meeder Asset Management Inc. bought a new stake in shares of Virco Mfg. during the 4th quarter valued at $72,000. Principal Financial Group Inc. raised its position in shares of Virco Mfg. by 11.4% in the 4th quarter. Principal Financial Group Inc. now owns 15,656 shares of the company's stock valued at $160,000 after buying an additional 1,604 shares in the last quarter. Finally, Rhumbline Advisers raised its position in Virco Mfg. by 11.8% during the fourth quarter. Rhumbline Advisers now owns 16,653 shares of the company's stock valued at $171,000 after purchasing an additional 1,753 shares in the last quarter. 30.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Virco Mfg. from a "hold" rating to a "buy" rating in a research report on Monday.

Virco Mfg. Stock Performance

Shares of VIRC traded up $0.16 on Thursday, reaching $10.42. 77,657 shares of the company's stock traded hands, compared to its average volume of 187,191. The stock has a market cap of $169.73 million, a PE ratio of 6.72 and a beta of 0.41. The stock's 50 day simple moving average is $10.15 and its two-hundred day simple moving average is $11.99. The company has a current ratio of 2.88, a quick ratio of 1.70 and a debt-to-equity ratio of 0.03. Virco Mfg. Co. has a 52-week low of $8.52 and a 52-week high of $18.50.

Virco Mfg. (NASDAQ:VIRC - Get Free Report) last issued its quarterly earnings data on Monday, April 14th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.20). The firm had revenue of $28.47 million for the quarter, compared to analysts' expectations of $43.00 million. Virco Mfg. had a net margin of 8.93% and a return on equity of 24.63%. On average, analysts forecast that Virco Mfg. Co. will post 1.54 earnings per share for the current fiscal year.

Virco Mfg. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Wednesday, March 26th were issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend was Wednesday, March 26th. Virco Mfg.'s payout ratio is 7.46%.

Virco Mfg. announced that its board has approved a share repurchase program on Tuesday, January 21st that permits the company to buyback $10.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 5.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company's management believes its shares are undervalued.

About Virco Mfg.

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.