Insider Buying: Virco Manufacturing (NASDAQ:VIRC) CEO Buys 3,300 Shares of Stock

Virco Manufacturing Corporation (NASDAQ:VIRC) CEO Robert Virtue bought 3,300 shares of the company’s stock in a transaction on Friday, April 10th. The stock was bought at an average cost of $5.52 per share, for a total transaction of $18,216.00. Following the completion of the acquisition, the chief executive officer directly owned 499,124 shares of the company’s stock, valued at approximately $2,755,164.48. This represents a 0.67% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Virco Manufacturing Stock Up 4.1%

Shares of NASDAQ VIRC traded up $0.23 during trading on Monday, reaching $5.85. The company had a trading volume of 51,811 shares, compared to its average volume of 44,132. Virco Manufacturing Corporation has a 12-month low of $5.16 and a 12-month high of $10.62. The company has a quick ratio of 1.31, a current ratio of 3.09 and a debt-to-equity ratio of 0.03. The business’s 50-day moving average is $6.22 and its 200 day moving average is $6.64. The stock has a market cap of $92.20 million, a PE ratio of 34.41 and a beta of 0.27.

Virco Manufacturing (NASDAQ:VIRC) last announced its quarterly earnings results on Wednesday, April 8th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.10). Virco Manufacturing had a return on equity of 2.18% and a net margin of 1.29%.The firm had revenue of $26.18 million during the quarter, compared to the consensus estimate of $29.61 million. As a group, equities analysts forecast that Virco Manufacturing Corporation will post 1.54 earnings per share for the current fiscal year.

Virco Manufacturing Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 10th. Stockholders of record on Friday, March 20th were issued a dividend of $0.025 per share. The ex-dividend date was Friday, March 20th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.7%. Virco Manufacturing’s dividend payout ratio is presently 58.82%.

Analysts Set New Price Targets

VIRC has been the subject of a number of recent analyst reports. Freedom Capital upgraded shares of Virco Manufacturing from a “hold” rating to a “strong-buy” rating in a report on Thursday. Weiss Ratings lowered Virco Manufacturing from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Institutional Trading of Virco Manufacturing

A number of large investors have recently made changes to their positions in the stock. Minerva Advisors LLC raised its holdings in shares of Virco Manufacturing by 6.3% during the fourth quarter. Minerva Advisors LLC now owns 1,448,198 shares of the company’s stock valued at $9,254,000 after purchasing an additional 85,696 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Virco Manufacturing by 25.7% in the first quarter. AQR Capital Management LLC now owns 317,915 shares of the company’s stock worth $3,007,000 after purchasing an additional 64,944 shares during the last quarter. Geode Capital Management LLC grew its position in Virco Manufacturing by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 265,554 shares of the company’s stock worth $1,697,000 after purchasing an additional 4,355 shares during the period. North Star Investment Management Corp. raised its stake in Virco Manufacturing by 13.2% during the 3rd quarter. North Star Investment Management Corp. now owns 146,175 shares of the company’s stock valued at $1,133,000 after buying an additional 17,000 shares during the last quarter. Finally, Bridgeway Capital Management LLC raised its stake in Virco Manufacturing by 3.4% during the 4th quarter. Bridgeway Capital Management LLC now owns 95,057 shares of the company’s stock valued at $607,000 after buying an additional 3,095 shares during the last quarter. 30.97% of the stock is currently owned by institutional investors.

About Virco Manufacturing

Virco Manufacturing Corporation (NASDAQ: VIRC) is a leading American manufacturer of furniture, primarily serving the K-12 education market. Headquartered in Torrance, California, the company designs, produces and distributes a comprehensive range of classroom seating, student desks, tables and educational workstations. Over several decades, Virco has built a reputation for durable, cost-effective solutions tailored to the needs of schools, colleges and other institutional customers.

The company’s product portfolio includes molded plastic and wood-seat student chairs, modular and fixed-height desks, multi-purpose tables, computer furniture, laboratory stools and teacher furnishings.