Nuveen Asset Management LLC Sells 212,090 Shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE)

Nuveen Asset Management LLC decreased its holdings in Virgin Galactic Holdings, Inc. (NYSE:SPCE - Free Report) by 75.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,290 shares of the company's stock after selling 212,090 shares during the period. Nuveen Asset Management LLC owned about 0.23% of Virgin Galactic worth $396,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Millennium Management LLC grew its holdings in shares of Virgin Galactic by 62.0% in the fourth quarter. Millennium Management LLC now owns 946,956 shares of the company's stock worth $5,568,000 after acquiring an additional 362,421 shares during the period. Federated Hermes Inc. grew its holdings in shares of Virgin Galactic by 1,246.5% in the fourth quarter. Federated Hermes Inc. now owns 833,664 shares of the company's stock worth $4,902,000 after acquiring an additional 771,749 shares during the period. Geode Capital Management LLC grew its holdings in shares of Virgin Galactic by 19.1% in the fourth quarter. Geode Capital Management LLC now owns 605,362 shares of the company's stock worth $3,561,000 after acquiring an additional 97,274 shares during the period. Northern Trust Corp grew its holdings in shares of Virgin Galactic by 39.6% in the fourth quarter. Northern Trust Corp now owns 222,753 shares of the company's stock worth $1,310,000 after acquiring an additional 63,141 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Virgin Galactic by 18.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 221,882 shares of the company's stock worth $1,305,000 after acquiring an additional 34,514 shares during the period. Institutional investors own 46.62% of the company's stock.

Virgin Galactic Price Performance

SPCE opened at $3.13 on Friday. The stock's 50-day moving average price is $3.05 and its 200 day moving average price is $4.42. The company has a current ratio of 4.52, a quick ratio of 4.52 and a debt-to-equity ratio of 1.15. Virgin Galactic Holdings, Inc. has a 12-month low of $2.18 and a 12-month high of $18.60. The firm has a market cap of $129.92 million, a price-to-earnings ratio of -0.18 and a beta of 2.10.

Virgin Galactic (NYSE:SPCE - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The company reported ($2.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.23) by ($0.15). The business had revenue of $0.46 million for the quarter, compared to analyst estimates of $0.33 million. Virgin Galactic had a negative return on equity of 88.09% and a negative net margin of 3,975.27%. As a group, sell-side analysts expect that Virgin Galactic Holdings, Inc. will post -16.05 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently commented on SPCE. Jefferies Financial Group cut their price objective on Virgin Galactic from $9.00 to $8.00 and set a "buy" rating for the company in a report on Friday, May 16th. Susquehanna reduced their price objective on Virgin Galactic from $4.00 to $3.25 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. Finally, The Goldman Sachs Group cut their target price on Virgin Galactic from $41.00 to $36.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd.

Virgin Galactic Profile

Virgin Galactic Holdings, Inc, an aerospace and space travel company, focuses on the development, manufacture, and operation of spaceships and related technologies. The company engages in the design and development, manufacturing, ground and flight testing, spaceflight operation, and post-flight maintenance of spaceflight systems for private individuals, researchers, and government agencies.

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