Douglas Virtue Purchases 3,000 Shares of Virco Manufacturing (NASDAQ:VIRC) Stock

Virco Manufacturing Corporation (NASDAQ:VIRC) EVP Douglas Virtue acquired 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The shares were acquired at an average price of $6.10 per share, with a total value of $18,300.00. Following the acquisition, the executive vice president owned 897,408 shares in the company, valued at $5,474,188.80. This trade represents a 0.34% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Virco Manufacturing Stock Performance

Shares of Virco Manufacturing stock opened at $6.17 on Thursday. The company has a quick ratio of 1.43, a current ratio of 2.53 and a debt-to-equity ratio of 0.03. The stock’s fifty day moving average is $6.07 and its two-hundred day moving average is $6.10. Virco Manufacturing Corporation has a 52 week low of $5.16 and a 52 week high of $8.23. The company has a market capitalization of $97.24 million, a PE ratio of -38.56 and a beta of 0.20.

Virco Manufacturing (NASDAQ:VIRC) last released its earnings results on Friday, September 4th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.48. The business had revenue of $87.47 million during the quarter, compared to the consensus estimate of $72.10 million. Virco Manufacturing had a negative return on equity of 2.32% and a negative net margin of 1.31%.

Virco Manufacturing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be issued a dividend of $0.025 per share. The ex-dividend date is Friday, September 18th. This represents a $0.10 dividend on an annualized basis and a yield of 1.6%. Virco Manufacturing’s dividend payout ratio (DPR) is presently -62.50%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on VIRC shares. Wall Street Zen raised shares of Virco Manufacturing from a “sell” rating to a “hold” rating in a research report on Saturday, September 5th. Weiss Ratings reissued a “sell (d+)” rating on shares of Virco Manufacturing in a research note on Wednesday, July 8th. Finally, Freedom Capital downgraded Virco Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 4th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Virco Manufacturing currently has an average rating of “Reduce”.

Hedge Funds Weigh In On Virco Manufacturing

A number of large investors have recently bought and sold shares of the business. IFP Advisors Inc increased its position in Virco Manufacturing by 101.6% during the 2nd quarter. IFP Advisors Inc now owns 5,857 shares of the company’s stock valued at $36,000 after buying an additional 2,952 shares in the last quarter. Susquehanna International Group LLP boosted its holdings in Virco Manufacturing by 564.4% in the second quarter. Susquehanna International Group LLP now owns 68,437 shares of the company’s stock worth $420,000 after acquiring an additional 58,137 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Virco Manufacturing during the second quarter worth about $245,000. BlackRock Inc. acquired a new position in shares of Virco Manufacturing during the second quarter valued at about $860,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Virco Manufacturing in the 2nd quarter valued at approximately $635,000. Institutional investors own 30.97% of the company’s stock.

Virco Manufacturing Company Profile

Virco Manufacturing Corporation designs, manufactures and distributes furniture and equipment primarily for the education market. Its product portfolio includes student desks and chairs, classroom tables, activity tables, teacher furniture, computer and technology furniture, storage products, and soft-seating solutions.

The company also serves other institutional and commercial customers, including government agencies, businesses, hospitality organizations and community facilities. Virco sells its products through a combination of direct sales and independent dealers, with a focus on schools and other organizations throughout the United States.

Virco was founded in 1950 by Julian Virtue and has developed into a long-standing U.S.