Bayforest Capital Ltd Acquires Shares of 9,171 Visteon Corporation (NASDAQ:VC)

Key Points

• Bayforest Capital Ltd has acquired a new position in Visteon Corporation, purchasing 9,171 shares valued at approximately $712,000 in the first quarter.
• Analysts have mixed views on Visteon, with Guggenheim lowering its price target from $108 to $91, while JPMorgan Chase raised its target from $101 to $104, reflecting a broad range of investment ratings.
• Visteon's recent quarterly earnings exceeded estimates, reporting $2.39 EPS against a consensus of $2.04, but showed a year-over-year revenue decline of 4.4%.

Bayforest Capital Ltd purchased a new stake in Visteon Corporation (NASDAQ:VC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 9,171 shares of the company's stock, valued at approximately $712,000.

Several other hedge funds have also bought and sold shares of the business. UMB Bank n.a. boosted its holdings in shares of Visteon by 286.7% in the 1st quarter. UMB Bank n.a. now owns 437 shares of the company's stock worth $34,000 after buying an additional 324 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of Visteon by 558.9% in the 1st quarter. Parallel Advisors LLC now owns 481 shares of the company's stock worth $37,000 after buying an additional 408 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of Visteon by 225.3% in the 4th quarter. Quadrant Capital Group LLC now owns 501 shares of the company's stock worth $44,000 after buying an additional 347 shares during the last quarter. CX Institutional purchased a new stake in Visteon during the first quarter valued at about $63,000. Finally, Signaturefd LLC lifted its holdings in shares of Visteon by 33.5% in the first quarter. Signaturefd LLC now owns 913 shares of the company's stock worth $71,000 after buying an additional 229 shares in the last quarter. Institutional investors and hedge funds own 99.71% of the company's stock.

Insider Activity at Visteon

In other news, SVP Joao Paulo Ribeiro sold 710 shares of Visteon stock in a transaction on Monday, July 28th. The stock was sold at an average price of $115.09, for a total transaction of $81,713.90. Following the transaction, the senior vice president directly owned 6,698 shares in the company, valued at approximately $770,872.82. This trade represents a 9.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Robert R. Vallance sold 2,000 shares of the firm's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $100.15, for a total value of $200,300.00. Following the sale, the senior vice president directly owned 20,838 shares of the company's stock, valued at approximately $2,086,925.70. This represents a 8.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Visteon Price Performance

Shares of NASDAQ:VC traded down $0.61 on Friday, hitting $110.54. The company had a trading volume of 339,792 shares, compared to its average volume of 515,448. The company has a current ratio of 1.87, a quick ratio of 1.55 and a debt-to-equity ratio of 0.19. Visteon Corporation has a 52-week low of $65.10 and a 52-week high of $117.90. The business has a 50 day moving average of $98.33 and a 200 day moving average of $87.20. The company has a market cap of $3.02 billion, a PE ratio of 10.54, a PEG ratio of 4.39 and a beta of 1.22.

Visteon (NASDAQ:VC - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $2.39 EPS for the quarter, topping the consensus estimate of $2.04 by $0.35. Visteon had a return on equity of 23.22% and a net margin of 7.61%. The company had revenue of $969.00 million during the quarter, compared to analyst estimates of $943.12 million. During the same period in the prior year, the firm posted $2.54 earnings per share. The firm's revenue was down 4.4% on a year-over-year basis. As a group, equities analysts anticipate that Visteon Corporation will post 8.42 earnings per share for the current fiscal year.

Visteon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Monday, August 18th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 1.0%. The ex-dividend date is Monday, August 18th.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Wolfe Research upgraded shares of Visteon from a "peer perform" rating to an "outperform" rating and set a $123.00 price target on the stock in a research report on Wednesday, July 2nd. Robert W. Baird upgraded shares of Visteon from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $96.00 to $125.00 in a report on Friday, July 11th. Guggenheim dropped their price target on shares of Visteon from $108.00 to $91.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Wells Fargo & Company boosted their target price on Visteon from $106.00 to $129.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Finally, Morgan Stanley reduced their price target on shares of Visteon from $95.00 to $90.00 and set an "equal weight" rating for the company in a research report on Monday, May 19th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $115.58.

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.