Y Intercept Hong Kong Ltd Has $844,000 Stock Position in Visteon Corporation (NASDAQ:VC)

Key Points

• Y Intercept Hong Kong Ltd significantly increased its stake in Visteon Corporation by 333.0%, owning 10,877 shares valued at $844,000 after additional purchases in the first quarter.
• Multiple institutional investors have also boosted their positions in Visteon, with ownership by institutional investors and hedge funds currently at 99.71%.
• Recent analyst reports reflect a positive outlook for Visteon, as Goldman Sachs upgraded its rating to buy and raised its target price from $83 to $120.

Y Intercept Hong Kong Ltd raised its holdings in shares of Visteon Corporation (NASDAQ:VC - Free Report) by 333.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,877 shares of the company's stock after acquiring an additional 8,365 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Visteon were worth $844,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VC. LPL Financial LLC boosted its position in Visteon by 2.6% during the fourth quarter. LPL Financial LLC now owns 6,166 shares of the company's stock worth $547,000 after purchasing an additional 156 shares during the period. Xponance Inc. boosted its position in Visteon by 4.7% during the fourth quarter. Xponance Inc. now owns 3,898 shares of the company's stock worth $346,000 after purchasing an additional 175 shares during the period. Summit Investment Advisors Inc. boosted its position in Visteon by 2.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 8,519 shares of the company's stock worth $756,000 after purchasing an additional 182 shares during the period. Signaturefd LLC boosted its position in Visteon by 33.5% during the first quarter. Signaturefd LLC now owns 913 shares of the company's stock worth $71,000 after purchasing an additional 229 shares during the period. Finally, Headlands Technologies LLC boosted its position in Visteon by 21.4% during the fourth quarter. Headlands Technologies LLC now owns 1,771 shares of the company's stock worth $157,000 after purchasing an additional 312 shares during the period. 99.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

VC has been the subject of a number of research reports. The Goldman Sachs Group raised Visteon from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $83.00 to $120.00 in a report on Friday, July 11th. Guggenheim dropped their target price on Visteon from $108.00 to $91.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Robert W. Baird raised Visteon from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $96.00 to $125.00 in a report on Friday, July 11th. Baird R W upgraded shares of Visteon from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 11th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Visteon from $97.00 to $101.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $115.33.

Visteon Stock Down 1.6%

Visteon stock opened at $113.32 on Friday. The company has a current ratio of 1.87, a quick ratio of 1.50 and a debt-to-equity ratio of 0.19. The stock has a fifty day simple moving average of $95.51 and a two-hundred day simple moving average of $86.21. Visteon Corporation has a 12 month low of $65.10 and a 12 month high of $117.94. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of 10.80 and a beta of 1.21.

Visteon (NASDAQ:VC - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The company reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.35. Visteon had a net margin of 7.61% and a return on equity of 23.22%. The firm had revenue of $969.00 million during the quarter, compared to analysts' expectations of $943.12 million. During the same period in the previous year, the company earned $2.54 earnings per share. The firm's quarterly revenue was down 4.4% on a year-over-year basis. Equities analysts predict that Visteon Corporation will post 8.42 EPS for the current fiscal year.

Visteon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Monday, August 18th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Monday, August 18th.

Insiders Place Their Bets

In other news, SVP Robert R. Vallance sold 2,000 shares of Visteon stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $100.15, for a total transaction of $200,300.00. Following the transaction, the senior vice president owned 20,838 shares in the company, valued at $2,086,925.70. This trade represents a 8.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.00% of the company's stock.

Visteon Company Profile

Visteon Corporation, an automotive technology company, designs, manufactures, and sells automotive electronics and connected car solutions for vehicle manufacturers worldwide. The company provides instrument clusters, including analog gauge clusters for 2-D and 3-D display-based devices; information displays that integrate a range of user interface technologies and graphics management capabilities, such as active privacy, TrueColor enhancement, local dimming, cameras, optics, haptic feedback, and light effects; and infotainment and connected car solutions, including scalable Android infotainment for seamless connectivity, as well as onboard artificial intelligence-based voice assistants with natural language understanding.

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