Ion Asset Management Ltd. Makes New Investment in Via Transportation Inc. $VIA

Key Points

• Ion Asset Management Ltd. bought a new stake of 100,000 shares (~$4.81M) in Via Transportation, making the position 0.5% of Ion's portfolio and leaving Ion with about 0.13% ownership of VIA.
• Several large institutions also initiated sizable positions — Wellington ($93.66M), Koch ($81.75M), Capital Research ($40.54M), Vanguard ($39.97M) and Capital International ($26.44M) — leaving institutional investors with 74.4% ownership of VIA.
• Analysts hold a consensus "Moderate Buy" (12 Buys, 1 Hold, 1 Sell) with a $49 consensus target; VIA trades near $16.66 (52-week range $15.48–$56.31), has a $1.35B market cap and a negative P/E.

Ion Asset Management Ltd. bought a new stake in Via Transportation Inc. (NYSE:VIA - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 100,000 shares of the company's stock, valued at approximately $4,808,000. Via Transportation comprises 0.5% of Ion Asset Management Ltd.'s investment portfolio, making the stock its 26th biggest position. Ion Asset Management Ltd. owned about 0.13% of Via Transportation as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in VIA. Wellington Management Group LLP acquired a new position in Via Transportation in the third quarter valued at approximately $93,662,000. Koch Inc. acquired a new position in shares of Via Transportation in the 3rd quarter valued at $81,747,000. Capital Research Global Investors purchased a new position in shares of Via Transportation during the 3rd quarter worth $40,536,000. Vanguard Group Inc. acquired a new stake in shares of Via Transportation during the 3rd quarter worth about $39,965,000. Finally, Capital International Investors purchased a new stake in Via Transportation in the 3rd quarter valued at about $26,444,000. Institutional investors and hedge funds own 74.40% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. The Goldman Sachs Group reaffirmed a "buy" rating and set a $28.00 target price on shares of Via Transportation in a research note on Monday, March 2nd. Weiss Ratings restated a "sell (d)" rating on shares of Via Transportation in a report on Monday, December 29th. Guggenheim dropped their target price on shares of Via Transportation from $58.00 to $50.00 and set a "buy" rating for the company in a report on Monday, March 2nd. Oppenheimer cut their target price on Via Transportation from $59.00 to $40.00 and set an "outperform" rating on the stock in a research report on Thursday, January 22nd. Finally, Noble Financial cut Via Transportation to a "buy" rating in a research note on Tuesday, December 16th. Twelve research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $49.00.

Via Transportation Stock Performance

Shares of VIA opened at $16.66 on Monday. The stock has a market cap of $1.35 billion and a P/E ratio of -24.15. Via Transportation Inc. has a fifty-two week low of $15.48 and a fifty-two week high of $56.31. The business's 50 day simple moving average is $21.20.

Via Transportation (NYSE:VIA - Get Free Report) last released its earnings results on Friday, February 27th. The company reported $999.00 EPS for the quarter.

About Via Transportation

Via transforms antiquated and siloed public transportation systems into smart, data-driven, and efficient digital networks. We are addressing a striking gap in the $545 billion global public transportation market. While billions of people across the globe rely on public transportation, this critical form of mobility has yet to meaningfully benefit from recent advances in technology. Buses still follow fixed routes and schedules planned years, if not decades ago, regardless of actual demand for their service.

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