HITE Hedge Asset Management LLC Cuts Stake in Visteon Co. (NASDAQ:VC)

HITE Hedge Asset Management LLC lessened its holdings in shares of Visteon Co. (NASDAQ:VC) by 18.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 11,227 shares of the company’s stock after selling 2,528 shares during the quarter. HITE Hedge Asset Management LLC’s holdings in Visteon were worth $996,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FMR LLC grew its position in Visteon by 89.3% during the 3rd quarter. FMR LLC now owns 3,354 shares of the company’s stock worth $319,000 after purchasing an additional 1,582 shares during the last quarter. Morse Asset Management Inc purchased a new position in Visteon in the 3rd quarter worth $164,000. XTX Topco Ltd purchased a new position in Visteon in the 3rd quarter worth $230,000. Barclays PLC lifted its position in Visteon by 60.0% during the 3rd quarter. Barclays PLC now owns 63,716 shares of the company’s stock worth $6,068,000 after acquiring an additional 23,893 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Visteon by 1.2% in the third quarter. Geode Capital Management LLC now owns 668,682 shares of the company’s stock valued at $63,698,000 after purchasing an additional 7,743 shares during the period. Hedge funds and other institutional investors own 99.71% of the company’s stock.

Visteon Stock Performance

VC opened at $71.81 on Friday. The firm’s fifty day simple moving average is $80.22 and its two-hundred day simple moving average is $86.18. Visteon Co. has a 52-week low of $65.10 and a 52-week high of $117.94. The company has a market cap of $1.94 billion, a price-to-earnings ratio of 7.32, a PEG ratio of 0.42 and a beta of 1.32. The company has a quick ratio of 1.47, a current ratio of 1.74 and a debt-to-equity ratio of 0.23.

Visteon (NASDAQ:VC) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $4.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $2.47. Visteon had a net margin of 7.09% and a return on equity of 24.58%. The firm had revenue of $939.00 million for the quarter, compared to analyst estimates of $954.17 million. Equities analysts anticipate that Visteon Co. will post 8.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on VC shares. Morgan Stanley decreased their target price on Visteon from $100.00 to $95.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Barclays reiterated an “equal weight” rating and issued a $82.00 price objective (down previously from $110.00) on shares of Visteon in a research note on Tuesday. TD Cowen started coverage on shares of Visteon in a report on Friday, March 7th. They issued a “buy” rating and a $108.00 price target on the stock. Royal Bank of Canada reduced their price objective on Visteon from $127.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company raised their target price on Visteon from $119.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Visteon currently has a consensus rating of “Hold” and an average price target of $100.64.

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.