PharVision Advisers LLC Takes $338,000 Position in Virco Mfg. Co. (NASDAQ:VIRC)

PharVision Advisers LLC bought a new position in Virco Mfg. Co. (NASDAQ:VIRC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 33,018 shares of the company's stock, valued at approximately $338,000. PharVision Advisers LLC owned about 0.20% of Virco Mfg. as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in VIRC. Two Sigma Advisers LP purchased a new stake in Virco Mfg. during the 4th quarter valued at $138,000. Two Sigma Investments LP bought a new position in shares of Virco Mfg. during the fourth quarter valued at about $417,000. Sherbrooke Park Advisers LLC purchased a new stake in shares of Virco Mfg. during the fourth quarter worth about $131,000. Millennium Management LLC grew its stake in shares of Virco Mfg. by 7.3% in the fourth quarter. Millennium Management LLC now owns 366,968 shares of the company's stock worth $3,761,000 after purchasing an additional 25,032 shares during the last quarter. Finally, Lazard Asset Management LLC increased its holdings in Virco Mfg. by 24.5% during the 4th quarter. Lazard Asset Management LLC now owns 71,500 shares of the company's stock valued at $732,000 after purchasing an additional 14,050 shares during the period. 30.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com cut Virco Mfg. from a "buy" rating to a "hold" rating in a report on Tuesday, April 22nd.

Virco Mfg. Stock Performance

NASDAQ:VIRC opened at $8.30 on Thursday. The company has a quick ratio of 1.70, a current ratio of 2.88 and a debt-to-equity ratio of 0.03. The firm's fifty day simple moving average is $9.34 and its 200 day simple moving average is $11.12. The stock has a market cap of $133.52 million, a P/E ratio of 5.35 and a beta of 0.37. Virco Mfg. Co. has a twelve month low of $8.13 and a twelve month high of $18.50.

Virco Mfg. (NASDAQ:VIRC - Get Free Report) last announced its earnings results on Monday, April 14th. The company reported ($0.35) earnings per share for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.20). Virco Mfg. had a net margin of 8.93% and a return on equity of 24.63%. The company had revenue of $28.47 million for the quarter, compared to the consensus estimate of $43.00 million. As a group, research analysts predict that Virco Mfg. Co. will post 1.54 EPS for the current year.

Virco Mfg. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Wednesday, March 26th were given a dividend of $0.025 per share. The ex-dividend date of this dividend was Wednesday, March 26th. This represents a $0.10 annualized dividend and a yield of 1.20%. Virco Mfg.'s payout ratio is 7.46%.

Virco Mfg. Profile

Virco Mfg. Corporation engages in the design, production, and distribution of furniture in the United States and Canada. The company offers seating products, including 4-leg chairs, cantilever chairs, mobile task chairs and lab stools, tablet armchairs, steel-frame and floor rockers, series stools, hard plastic seating, folding and upholstered stack chairs, and plastic stack and upholstered ergonomic chairs.

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