Virco Manufacturing Corporation $VIRC Shares Purchased by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC boosted its stake in shares of Virco Manufacturing Corporation (NASDAQ:VIRC) by 68.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 118,449 shares of the company’s stock after purchasing an additional 48,135 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Virco Manufacturing were worth $945,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Bastion Asset Management Inc. lifted its position in shares of Virco Manufacturing by 65.1% during the 1st quarter. Bastion Asset Management Inc. now owns 258,229 shares of the company’s stock valued at $2,443,000 after acquiring an additional 101,796 shares during the period. Inspire Advisors LLC grew its holdings in shares of Virco Manufacturing by 14.7% in the 1st quarter. Inspire Advisors LLC now owns 47,625 shares of the company’s stock worth $451,000 after acquiring an additional 6,088 shares during the period. Arkadios Wealth Advisors purchased a new position in Virco Manufacturing in the 1st quarter valued at approximately $1,112,000. Minerva Advisors LLC raised its holdings in Virco Manufacturing by 4.1% during the first quarter. Minerva Advisors LLC now owns 1,210,455 shares of the company’s stock worth $11,451,000 after purchasing an additional 47,866 shares during the last quarter. Finally, Koss Olinger Consulting LLC boosted its position in Virco Manufacturing by 13.8% during the first quarter. Koss Olinger Consulting LLC now owns 62,816 shares of the company’s stock worth $594,000 after purchasing an additional 7,608 shares in the last quarter. 30.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Robert A. Virtue acquired 5,000 shares of the business’s stock in a transaction dated Thursday, October 16th. The stock was acquired at an average price of $6.96 per share, with a total value of $34,800.00. Following the completion of the transaction, the chief executive officer directly owned 493,324 shares in the company, valued at approximately $3,433,535.04. This represents a 1.02% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Douglas A. Virtue acquired 13,022 shares of Virco Manufacturing stock in a transaction that occurred on Friday, October 17th. The shares were purchased at an average cost of $7.34 per share, for a total transaction of $95,581.48. Following the purchase, the executive vice president directly owned 861,839 shares of the company’s stock, valued at approximately $6,325,898.26. This trade represents a 1.53% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 18.13% of the company’s stock.

Virco Manufacturing Stock Performance

NASDAQ VIRC opened at $7.10 on Friday. The company has a quick ratio of 1.38, a current ratio of 2.96 and a debt-to-equity ratio of 0.03. Virco Manufacturing Corporation has a fifty-two week low of $6.65 and a fifty-two week high of $17.31. The business has a fifty day moving average of $7.47 and a 200-day moving average of $8.02. The stock has a market cap of $111.90 million, a price-to-earnings ratio of 8.16 and a beta of 0.32.

Virco Manufacturing (NASDAQ:VIRC) last posted its quarterly earnings data on Friday, September 5th. The company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.14). Virco Manufacturing had a return on equity of 12.04% and a net margin of 5.74%.The company had revenue of $92.09 million for the quarter, compared to analysts’ expectations of $113.80 million. As a group, analysts predict 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, October 10th. Stockholders of record on Friday, September 19th were issued a dividend of $0.025 per share. The ex-dividend date was Friday, September 19th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.4%. Virco Manufacturing’s payout ratio is 11.49%.

Analyst Upgrades and Downgrades

VIRC has been the subject of a number of research analyst reports. Zacks Research upgraded Virco Manufacturing to a “hold” rating in a research report on Friday, August 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Virco Manufacturing in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $17.00.

Virco Manufacturing Company Profile

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.