Virco Manufacturing (NASDAQ:VIRC) CEO Robert Virtue Buys 4,300 Shares

Virco Manufacturing Corporation (NASDAQ:VIRC) CEO Robert Virtue acquired 4,300 shares of Virco Manufacturing stock in a transaction dated Thursday, June 11th. The stock was bought at an average price of $6.22 per share, with a total value of $26,746.00. Following the completion of the purchase, the chief executive officer directly owned 506,124 shares in the company, valued at $3,148,091.28. This represents a 0.86% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Virco Manufacturing Stock Performance

Shares of NASDAQ:VIRC traded down $0.08 during midday trading on Monday, hitting $6.40. The company had a trading volume of 28,795 shares, compared to its average volume of 44,068. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.71 and a quick ratio of 0.90. The company has a market cap of $100.70 million, a price-to-earnings ratio of -106.73 and a beta of 0.21. Virco Manufacturing Corporation has a 12-month low of $5.16 and a 12-month high of $9.09. The company has a fifty day moving average of $6.02 and a two-hundred day moving average of $6.30.

Virco Manufacturing (NASDAQ:VIRC) last posted its quarterly earnings data on Wednesday, June 3rd. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.19). The company had revenue of $30.69 million during the quarter, compared to analysts’ expectations of $27.20 million. Virco Manufacturing had a negative return on equity of 0.16% and a negative net margin of 0.48%.

Virco Manufacturing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 19th will be issued a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Thursday, June 18th. Virco Manufacturing’s dividend payout ratio is currently -166.67%.

Institutional Investors Weigh In On Virco Manufacturing

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VIRC. AQR Capital Management LLC grew its holdings in Virco Manufacturing by 25.7% during the 1st quarter. AQR Capital Management LLC now owns 317,915 shares of the company’s stock valued at $3,007,000 after buying an additional 64,944 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Virco Manufacturing during the 1st quarter valued at approximately $186,000. Goldman Sachs Group Inc. grew its holdings in Virco Manufacturing by 9.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 62,829 shares of the company’s stock valued at $594,000 after buying an additional 5,436 shares in the last quarter. Empowered Funds LLC purchased a new stake in Virco Manufacturing during the 1st quarter valued at approximately $258,000. Finally, Geode Capital Management LLC grew its holdings in Virco Manufacturing by 5.8% during the 2nd quarter. Geode Capital Management LLC now owns 257,034 shares of the company’s stock valued at $2,051,000 after buying an additional 14,203 shares in the last quarter. 30.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

VIRC has been the subject of several analyst reports. Weiss Ratings lowered shares of Virco Manufacturing from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, April 10th. Freedom Capital lowered shares of Virco Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 4th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce”.

Virco Manufacturing Company Profile

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.