Cubist Systematic Strategies LLC Buys Shares of 7,940 Visteon Corporation $VC

Key Points

• Cubist Systematic Strategies LLC acquired a new position in Visteon Corporation by purchasing 7,940 shares valued at approximately $616,000 in the 1st quarter of the year.
• Visteon reported an EPS of $2.39 for the quarter, exceeding expectations, despite a 4.4% year-over-year revenue decline.
• The company announced a quarterly dividend of $0.275 per share, reflecting a dividend yield of 0.9% and a payout ratio of 10.49%.

Cubist Systematic Strategies LLC bought a new position in Visteon Corporation (NASDAQ:VC - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,940 shares of the company's stock, valued at approximately $616,000.

Other institutional investors have also recently bought and sold shares of the company. New York State Common Retirement Fund increased its position in Visteon by 6.8% during the first quarter. New York State Common Retirement Fund now owns 9,117 shares of the company's stock worth $708,000 after purchasing an additional 584 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Visteon by 12.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,288 shares of the company's stock valued at $571,000 after buying an additional 799 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Visteon during the 1st quarter worth $472,000. Entropy Technologies LP boosted its holdings in Visteon by 169.5% in the first quarter. Entropy Technologies LP now owns 6,505 shares of the company's stock valued at $505,000 after acquiring an additional 4,091 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in Visteon during the fourth quarter valued at about $203,000. 99.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Joao Paulo Ribeiro sold 710 shares of the stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $115.09, for a total transaction of $81,713.90. Following the transaction, the senior vice president owned 6,698 shares of the company's stock, valued at approximately $770,872.82. This trade represents a 9.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Robert R. Vallance sold 2,000 shares of Visteon stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $120.00, for a total value of $240,000.00. Following the completion of the transaction, the senior vice president owned 18,838 shares of the company's stock, valued at $2,260,560. This trade represents a 9.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,102 shares of company stock worth $1,538,595. 2.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. The Goldman Sachs Group restated a "buy" rating on shares of Visteon in a report on Friday, July 25th. Bank of America raised their price target on shares of Visteon from $130.00 to $140.00 and gave the company a "buy" rating in a report on Wednesday. Cfra Research downgraded shares of Visteon from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. increased their price objective on shares of Visteon from $101.00 to $104.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Finally, Robert W. Baird set a $144.00 target price on shares of Visteon in a report on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $124.54.

Visteon Stock Down 2.9%

Shares of NASDAQ VC traded down $3.69 during trading on Friday, reaching $124.59. 192,287 shares of the stock were exchanged, compared to its average volume of 261,791. Visteon Corporation has a twelve month low of $65.10 and a twelve month high of $129.10. The company has a market capitalization of $3.40 billion, a price-to-earnings ratio of 11.88, a price-to-earnings-growth ratio of 2.94 and a beta of 1.25. The company has a quick ratio of 1.55, a current ratio of 1.87 and a debt-to-equity ratio of 0.19. The business's 50-day moving average price is $117.43 and its 200 day moving average price is $94.91.

Visteon (NASDAQ:VC - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The company reported $2.39 EPS for the quarter, topping analysts' consensus estimates of $2.04 by $0.35. The firm had revenue of $969.00 million for the quarter, compared to analyst estimates of $943.12 million. Visteon had a net margin of 7.61% and a return on equity of 23.22%. The firm's revenue was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.54 EPS. Visteon has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Visteon Corporation will post 8.42 EPS for the current fiscal year.

Visteon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Monday, August 18th were issued a $0.275 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $1.10 annualized dividend and a yield of 0.9%. Visteon's dividend payout ratio is currently 10.49%.

Visteon Company Profile

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.