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

Virco Manufacturing Corporation (NASDAQ:VIRC) CEO Robert Virtue acquired 4,300 shares of Virco Manufacturing stock in a transaction on Thursday, June 11th. The stock was acquired at an average cost of $6.22 per share, for a total transaction of $26,746.00. Following the purchase, the chief executive officer owned 506,124 shares of the company’s stock, valued at approximately $3,148,091.28. This represents a 0.86% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Virco Manufacturing Price Performance

Virco Manufacturing stock opened at $6.30 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.90 and a current ratio of 2.71. The firm has a market cap of $99.10 million, a P/E ratio of -104.98 and a beta of 0.22. The business’s fifty day moving average is $6.02 and its two-hundred day moving average is $6.30. Virco Manufacturing Corporation has a 52 week low of $5.16 and a 52 week high of $9.09.

Virco Manufacturing (NASDAQ:VIRC) last posted its quarterly earnings data on Wednesday, June 3rd. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.19). The business had revenue of $30.69 million during the quarter, compared to analyst estimates 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 Announces Dividend

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

Hedge Funds Weigh In On Virco Manufacturing

Several large investors have recently made changes to their positions in VIRC. AQR Capital Management LLC lifted its stake in shares of Virco Manufacturing by 25.7% during the first quarter. AQR Capital Management LLC now owns 317,915 shares of the company’s stock valued at $3,007,000 after acquiring an additional 64,944 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in Virco Manufacturing in the first quarter valued at about $186,000. Goldman Sachs Group Inc. lifted its stake in Virco Manufacturing by 9.5% in the first 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 during the period. Empowered Funds LLC acquired a new position in Virco Manufacturing in the first quarter valued at about $258,000. Finally, Geode Capital Management LLC lifted its stake in Virco Manufacturing by 5.8% in the second 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 during the period. Institutional investors and hedge funds own 30.97% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on VIRC. Freedom Capital lowered Virco Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 4th. Weiss Ratings lowered Virco Manufacturing from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, April 10th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Virco Manufacturing presently has an average 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.