Squarepoint Ops LLC Cuts Stock Holdings in Visteon Corporation $VC

Key Points

• Squarepoint Ops LLC cut its Visteon stake by 87.7% in the second quarter, selling 145,852 shares and retaining 20,526 shares worth approximately $2.04 million. Institutional investors collectively own 99.71% of Visteon’s stock.
• Analysts maintain a generally positive outlook, with eight Buy ratings and five Holds producing a consensus “Moderate Buy” rating and an average price target of $134.45.
• Visteon reported quarterly revenue of $960 million, slightly above estimates, but earnings of $1.91 per share missed expectations of $2.21; the company also declared a quarterly dividend of $0.375 per share, yielding about 1.5% annually.

Squarepoint Ops LLC reduced its stake in Visteon Corporation (NASDAQ:VC - Free Report) by 87.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 20,526 shares of the company's stock after selling 145,852 shares during the quarter. Squarepoint Ops LLC owned approximately 0.08% of Visteon worth $2,036,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Oregon Public Employees Retirement Fund grew its stake in shares of Visteon by 1.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 5,582 shares of the company's stock worth $509,000 after acquiring an additional 100 shares in the last quarter. State of Michigan Retirement System lifted its position in shares of Visteon by 3.1% during the first quarter. State of Michigan Retirement System now owns 6,607 shares of the company's stock valued at $602,000 after purchasing an additional 200 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Visteon by 58.7% during the second quarter. Versant Capital Management Inc now owns 581 shares of the company's stock valued at $58,000 after purchasing an additional 215 shares in the last quarter. Hantz Financial Services Inc. boosted its holdings in Visteon by 54.8% during the fourth quarter. Hantz Financial Services Inc. now owns 655 shares of the company's stock worth $62,000 after purchasing an additional 232 shares during the last quarter. Finally, ProShare Advisors LLC grew its position in Visteon by 4.4% in the 4th quarter. ProShare Advisors LLC now owns 6,117 shares of the company's stock worth $582,000 after purchasing an additional 256 shares in the last quarter. 99.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

VC has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Visteon from $168.00 to $170.00 and gave the company an "overweight" rating in a research note on Monday, August 10th. TD Cowen boosted their target price on Visteon from $130.00 to $135.00 and gave the stock a "buy" rating in a research note on Monday, June 29th. Deutsche Bank Aktiengesellschaft reduced their target price on Visteon from $133.00 to $132.00 and set a "buy" rating for the company in a report on Thursday, July 9th. Wolfe Research downgraded Visteon from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, July 28th. Finally, Royal Bank Of Canada dropped their price target on Visteon from $130.00 to $129.00 and set an "outperform" rating on the stock in a report on Friday, July 24th. Eight analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $134.45.

Visteon Stock Performance

NASDAQ VC opened at $100.01 on Tuesday. Visteon Corporation has a 52-week low of $83.49 and a 52-week high of $128.15. The company has a 50-day simple moving average of $104.02 and a 200 day simple moving average of $103.81. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.45 and a current ratio of 1.78. The company has a market capitalization of $2.67 billion, a PE ratio of 13.07, a price-to-earnings-growth ratio of 0.65 and a beta of 1.30.

Visteon (NASDAQ:VC - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $1.91 EPS for the quarter, missing the consensus estimate of $2.21 by ($0.30). Visteon had a return on equity of 14.61% and a net margin of 5.58%.The company had revenue of $960.00 million during the quarter, compared to the consensus estimate of $955.78 million. During the same period in the prior year, the firm posted $2.39 EPS. The business's revenue was down .9% on a year-over-year basis. On average, research analysts predict that Visteon Corporation will post 8.41 EPS for the current year.

Visteon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, September 1st. Visteon's payout ratio is 19.61%.

About Visteon

Visteon Corporation NASDAQ: VC is a global automotive technology company that develops and supplies electronic products and software for vehicle manufacturers. Its solutions are designed to support the transition toward connected, digital and software-defined vehicles.

The company's product portfolio includes digital instrument clusters, vehicle information displays, infotainment systems, cockpit domain controllers and connected-car technologies. Visteon also develops battery-management systems and other electronics used in electric and hybrid vehicles, as well as climate-control and thermal-management electronics for automotive applications.

Visteon was established in 2000 after being spun off from Ford Motor Company and is headquartered in Van Buren Township, Michigan.

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