Balyasny Asset Management L.P. Lowers Position in Visteon Co. (NASDAQ:VC)

Balyasny Asset Management L.P. cut its stake in Visteon Co. (NASDAQ:VC - Free Report) by 13.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 110,904 shares of the company's stock after selling 17,675 shares during the period. Balyasny Asset Management L.P. owned approximately 0.40% of Visteon worth $9,839,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. LPL Financial LLC raised its position in Visteon by 2.6% in the fourth quarter. LPL Financial LLC now owns 6,166 shares of the company's stock valued at $547,000 after purchasing an additional 156 shares during the period. Franklin Resources Inc. boosted its position in Visteon by 0.8% during the 3rd quarter. Franklin Resources Inc. now owns 20,620 shares of the company's stock valued at $1,881,000 after purchasing an additional 171 shares during the period. Xponance Inc. grew its position in Visteon by 4.7% in the 4th quarter. Xponance Inc. now owns 3,898 shares of the company's stock worth $346,000 after purchasing an additional 175 shares during the last quarter. Summit Investment Advisors Inc. increased its stake in Visteon by 2.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 8,519 shares of the company's stock valued at $756,000 after buying an additional 182 shares during the period. Finally, Inspire Investing LLC lifted its stake in Visteon by 5.0% during the fourth quarter. Inspire Investing LLC now owns 4,533 shares of the company's stock valued at $402,000 after purchasing an additional 216 shares during the last quarter. Institutional investors and hedge funds own 99.71% of the company's stock.

Visteon Stock Up 1.6 %

Shares of VC traded up $1.32 during trading hours on Friday, reaching $84.61. The stock had a trading volume of 261,439 shares, compared to its average volume of 306,991. The company has a current ratio of 1.74, a quick ratio of 1.47 and a debt-to-equity ratio of 0.23. The firm has a 50-day simple moving average of $77.95 and a 200 day simple moving average of $84.72. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of 8.62, a P/E/G ratio of 0.42 and a beta of 1.23. Visteon Co. has a 12 month low of $65.10 and a 12 month high of $117.94.

Visteon (NASDAQ:VC - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $2.40 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.70. Visteon had a return on equity of 24.58% and a net margin of 7.09%. The business had revenue of $934.00 million for the quarter, compared to analysts' expectations of $906.38 million. During the same quarter in the previous year, the firm earned $1.61 earnings per share. The business's revenue was up .1% on a year-over-year basis. Equities research analysts predict that Visteon Co. will post 8.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on VC. Morgan Stanley cut their price objective on Visteon from $100.00 to $95.00 and set an "equal weight" rating for the company in a report on Monday, March 3rd. UBS Group restated a "neutral" rating and set a $76.00 target price (down previously from $114.00) on shares of Visteon in a research note on Thursday, April 10th. Wells Fargo & Company lifted their price objective on Visteon from $119.00 to $124.00 and gave the stock an "overweight" rating in a report on Wednesday, February 19th. Royal Bank of Canada cut their price target on shares of Visteon from $127.00 to $100.00 and set an "outperform" rating for the company in a research note on Wednesday, February 19th. Finally, TD Cowen assumed coverage on shares of Visteon in a report on Friday, March 7th. They set a "buy" rating and a $108.00 price target for the company. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $98.58.

About Visteon

Visteon Corporation, an automotive technology company, designs, manufactures, and sells automotive electronics and connected car solutions for vehicle manufacturers worldwide. The company provides instrument clusters, including analog gauge clusters for 2-D and 3-D display-based devices; information displays that integrate a range of user interface technologies and graphics management capabilities, such as active privacy, TrueColor enhancement, local dimming, cameras, optics, haptic feedback, and light effects; and infotainment and connected car solutions, including scalable Android infotainment for seamless connectivity, as well as onboard artificial intelligence-based voice assistants with natural language understanding.