Victory Capital Holdings, Inc. $VCTR Shares Sold by Granahan Investment Management LLC

Key Points

• Granahan Investment Management LLC reduced its holdings in Victory Capital Holdings, Inc. (NASDAQ: VCTR) by 7.5%, now owning approximately 1.05 million shares, which accounts for about 3% of its investment portfolio.
• Victory Capital reported strong earnings results, with an EPS of $1.57 for the latest quarter, surpassing estimates and reflecting a 59.9% revenue increase year-over-year, reaching $351.21 million.
• The company declared a quarterly dividend of $0.49 per share, representing an annualized yield of 2.8%, which will be paid on September 25th to shareholders of record on September 10th.

Granahan Investment Management LLC cut its holdings in shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report) by 7.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,047,949 shares of the company's stock after selling 85,048 shares during the quarter. Victory Capital comprises approximately 3.0% of Granahan Investment Management LLC's portfolio, making the stock its 5th biggest holding. Granahan Investment Management LLC owned approximately 1.65% of Victory Capital worth $60,645,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Versant Capital Management Inc acquired a new stake in Victory Capital during the first quarter worth about $34,000. Opal Wealth Advisors LLC acquired a new stake in shares of Victory Capital in the first quarter valued at about $37,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Victory Capital in the first quarter valued at about $41,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Victory Capital in the first quarter valued at about $98,000. Finally, TD Private Client Wealth LLC grew its stake in shares of Victory Capital by 17.8% in the first quarter. TD Private Client Wealth LLC now owns 2,177 shares of the company's stock valued at $126,000 after buying an additional 329 shares in the last quarter. 87.71% of the stock is currently owned by institutional investors and hedge funds.

Victory Capital Price Performance

Shares of NASDAQ VCTR traded up $0.04 during mid-day trading on Tuesday, reaching $71.39. The company had a trading volume of 158,198 shares, compared to its average volume of 436,093. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.39. The stock has a market cap of $4.77 billion, a PE ratio of 17.64, a P/E/G ratio of 0.76 and a beta of 1.10. The company has a 50-day moving average price of $69.06 and a two-hundred day moving average price of $63.16. Victory Capital Holdings, Inc. has a 1-year low of $47.00 and a 1-year high of $73.42.

Victory Capital (NASDAQ:VCTR - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $1.57 earnings per share for the quarter, beating analysts' consensus estimates of $1.47 by $0.10. Victory Capital had a return on equity of 26.46% and a net margin of 27.18%.The business had revenue of $351.21 million for the quarter, compared to the consensus estimate of $348.89 million. During the same quarter in the previous year, the company posted $1.31 earnings per share. Victory Capital's revenue for the quarter was up 59.9% compared to the same quarter last year. On average, equities analysts anticipate that Victory Capital Holdings, Inc. will post 6.16 earnings per share for the current year.

Victory Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th will be paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Wednesday, September 10th. Victory Capital's dividend payout ratio is 48.40%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on VCTR. Royal Bank Of Canada increased their target price on Victory Capital from $72.00 to $75.00 and gave the company an "outperform" rating in a research note on Tuesday, May 13th. Wall Street Zen lowered Victory Capital from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Morgan Stanley increased their target price on Victory Capital from $66.00 to $67.00 and gave the company an "equal weight" rating in a research note on Monday, August 18th. Barclays increased their target price on Victory Capital from $62.00 to $68.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Finally, B. Riley increased their price target on Victory Capital from $74.00 to $82.00 and gave the company a "buy" rating in a report on Friday, August 22nd. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $73.22.

About Victory Capital

Victory Capital Holdings, Inc, together with its subsidiaries, operates as an asset management company in the United States and internationally. It offers investment advisory, fund administration, fund compliance, fund transfer agent, fund distribution, and other management services. The company provides specialized investment strategies to institutions, intermediaries, retirement platforms, and individual investors.