Victory Capital (NASDAQ:VCTR) Stock Dropped to "Hold" by Wall Street Zen

Key Points

• Wall Street Zen downgraded Victory Capital from “buy” to “hold.” Analyst opinion is mixed, but the overall consensus is “hold,” with a $119.50 average price target.
• Victory Capital’s latest quarter slightly missed expectations: EPS was $1.98 versus $1.99 forecast, and revenue was $396.57 million versus $411.23 million expected.
• Shares opened at $119.24, near their 52-week high of $123.55; institutional investors own 87.71% of the stock.

Victory Capital (NASDAQ:VCTR - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Several other research firms have also recently weighed in on VCTR. Weiss Ratings upgraded shares of Victory Capital from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Thursday, October 8th. Zacks Research downgraded Victory Capital from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 14th. Barclays boosted their price objective on Victory Capital from $121.00 to $126.00 and gave the stock an "equal weight" rating in a research report on Friday. Morgan Stanley boosted their target price on shares of Victory Capital from $115.00 to $119.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 28th. Finally, Royal Bank Of Canada raised their target price on Victory Capital from $107.00 to $118.00 and gave the stock an "outperform" rating in a research report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $119.50.

Victory Capital Stock Performance

Shares of VCTR stock opened at $119.24 on Friday. Victory Capital has a 52 week low of $57.03 and a 52 week high of $123.55. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41. The business has a 50 day moving average of $110.79 and a two-hundred day moving average of $90.33. The company has a market cap of $7.33 billion, a P/E ratio of 21.92, a PEG ratio of 0.53 and a beta of 1.12.

Victory Capital (NASDAQ:VCTR - Get Free Report) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $1.98 EPS for the quarter, missing analysts' consensus estimates of $1.99 by ($0.01). The firm had revenue of $396.57 million during the quarter, compared to the consensus estimate of $411.23 million. Victory Capital had a net margin of 29.57% and a return on equity of 24.17%. As a group, analysts anticipate that Victory Capital will post 7.78 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Bahl & Gaynor LLC lifted its position in Victory Capital by 1.9% in the 3rd quarter. Bahl & Gaynor LLC now owns 3,100,986 shares of the company's stock worth $342,969,000 after buying an additional 56,708 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Victory Capital by 14.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,743,465 shares of the company's stock valued at $114,163,000 after purchasing an additional 221,471 shares during the last quarter. Granahan Investment Management LLC increased its holdings in shares of Victory Capital by 1.1% in the 1st quarter. Granahan Investment Management LLC now owns 1,087,315 shares of the company's stock worth $71,197,000 after purchasing an additional 12,113 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Victory Capital by 12.4% in the first quarter. Bank of America Corp DE now owns 1,007,405 shares of the company's stock worth $65,965,000 after buying an additional 111,063 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Victory Capital in the second quarter worth approximately $42,035,000. 87.71% of the stock is owned by hedge funds and other institutional investors.

Victory Capital Company Profile

Victory Capital Holdings, Inc is a global investment management company headquartered in San Antonio, Texas. The company provides investment solutions to individual investors, financial professionals, institutions, retirement plans and other organizations through a range of investment strategies and distribution channels.

Its products and services include mutual funds, exchange-traded funds, separately managed accounts, model portfolios, collective investment trusts and customized institutional mandates.

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