Tidal Investments LLC Lowers Stock Holdings in Visteon Corporation $VC

Key Points

• Tidal Investments cut its Visteon stake by 78.8% in the second quarter, selling 11,345 shares and retaining 3,058 shares valued at approximately $303,000.
• Visteon reported quarterly EPS of $1.91, missing analysts’ $2.21 estimate, while revenue reached $960 million and declined 0.9% year over year.
• The company pays a quarterly dividend of $0.375, equivalent to a 1.6% yield, while analysts maintain a “Moderate Buy” consensus with an average price target of $132.18.

Tidal Investments LLC cut its stake in Visteon Corporation (NASDAQ:VC - Free Report) by 78.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,058 shares of the company's stock after selling 11,345 shares during the period. Tidal Investments LLC's holdings in Visteon were worth $303,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. WINTON GROUP Ltd boosted its position in Visteon by 63.4% in the 2nd quarter. WINTON GROUP Ltd now owns 23,460 shares of the company's stock valued at $2,327,000 after buying an additional 9,106 shares during the last quarter. Engineers Gate Manager LP increased its stake in Visteon by 60.9% during the second quarter. Engineers Gate Manager LP now owns 88,766 shares of the company's stock valued at $8,806,000 after purchasing an additional 33,612 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Visteon during the 2nd quarter valued at about $3,057,000. Baird Financial Group Inc. raised its position in shares of Visteon by 4.9% during the 2nd quarter. Baird Financial Group Inc. now owns 77,143 shares of the company's stock worth $7,653,000 after purchasing an additional 3,617 shares during the period. Finally, Nykredit A S bought a new stake in Visteon in the second quarter valued at $119,000. 99.71% of the stock is currently owned by institutional investors and hedge funds.

Visteon Stock Up 1.1%

Visteon stock opened at $93.03 on Thursday. The company's 50 day simple moving average is $102.58 and its 200 day simple moving average is $103.80. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.78 and a quick ratio of 1.45. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 0.60 and a beta of 1.30. Visteon Corporation has a fifty-two week low of $83.49 and a fifty-two week high of $126.95.

Visteon (NASDAQ:VC - Get Free Report) last announced its earnings results on Thursday, July 23rd. The company reported $1.91 EPS for the quarter, missing the consensus estimate of $2.21 by ($0.30). The company had revenue of $960.00 million for the quarter, compared to analyst estimates of $955.78 million. Visteon had a return on equity of 14.61% and a net margin of 5.58%.The business's quarterly revenue was down .9% on a year-over-year basis. During the same quarter last year, the business posted $2.39 earnings per share. As a group, sell-side analysts anticipate that Visteon Corporation will post 8.38 EPS for the current year.

Visteon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were paid a $0.375 dividend. The ex-dividend date was Tuesday, September 1st. This represents a $1.50 annualized dividend and a yield of 1.6%. Visteon's dividend payout ratio is currently 19.61%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on VC shares. Wall Street Zen lowered Visteon from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. JPMorgan Chase & Co. reduced their target price on Visteon from $170.00 to $145.00 and set an "overweight" rating for the company in a report on Tuesday, September 15th. Barclays raised shares of Visteon from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $115.00 to $145.00 in a research report on Monday, June 22nd. Robert W. Baird reaffirmed a "neutral" rating and issued a $121.00 target price on shares of Visteon in a research report on Friday, June 26th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Visteon from $133.00 to $132.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. Eight investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Visteon presently has an average rating of "Moderate Buy" and a consensus target price of $132.18.

Visteon Profile

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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