Insider Buying: Virco Manufacturing (NASDAQ:VIRC) CEO Acquires 3,300 Shares of Stock

Key Points

• Virco CEO Robert Virtue bought 3,300 shares on April 10 at an average price of $5.52 (about $18,216), raising his stake to 499,124 shares — a 0.67% increase in ownership.
• Virco missed quarterly estimates, reporting EPS of ($0.45) versus ($0.35) expected and revenue of $26.18M versus $29.61M expected.
• The stock traded up ~4.1% to $5.85; the company has a $92.2M market cap, a 52-week range of $5.16–$10.62, mixed analyst ratings with a consensus "Hold," and pays a small quarterly dividend ($0.025; ~1.7% yield).

Virco Manufacturing Corporation (NASDAQ:VIRC - Get Free Report) CEO Robert Virtue purchased 3,300 shares of Virco Manufacturing stock in a transaction that occurred on Friday, April 10th. The shares were acquired at an average price of $5.52 per share, for a total transaction of $18,216.00. Following the acquisition, the chief executive officer owned 499,124 shares in the company, valued at $2,755,164.48. This trade represents a 0.67% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Virco Manufacturing Trading Up 4.1%

NASDAQ VIRC traded up $0.23 on Monday, hitting $5.85. The company's stock had a trading volume of 51,811 shares, compared to its average volume of 44,132. The company has a current ratio of 3.09, a quick ratio of 1.31 and a debt-to-equity ratio of 0.03. Virco Manufacturing Corporation has a 52-week low of $5.16 and a 52-week high of $10.62. The firm has a market cap of $92.20 million, a P/E ratio of 34.41 and a beta of 0.27. The company's 50-day simple moving average is $6.22 and its 200 day simple moving average is $6.64.

Virco Manufacturing (NASDAQ:VIRC - Get Free Report) last announced its earnings results on Wednesday, April 8th. The company reported ($0.45) EPS for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.10). Virco Manufacturing had a net margin of 1.29% and a return on equity of 2.18%. The business had revenue of $26.18 million for the quarter, compared to the consensus estimate of $29.61 million. Research analysts predict that Virco Manufacturing Corporation will post 1.54 EPS for the current fiscal year.

Virco Manufacturing Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Friday, March 20th were issued a $0.025 dividend. The ex-dividend date was Friday, March 20th. This represents a $0.10 annualized dividend and a yield of 1.7%. Virco Manufacturing's dividend payout ratio is 58.82%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Freedom Capital upgraded shares of Virco Manufacturing from a "hold" rating to a "strong-buy" rating in a research report on Thursday. Weiss Ratings lowered shares of Virco Manufacturing from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold".

Hedge Funds Weigh In On Virco Manufacturing

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its stake in Virco Manufacturing by 18.2% during the fourth quarter. Wells Fargo & Company MN now owns 28,777 shares of the company's stock worth $184,000 after acquiring an additional 4,427 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of Virco Manufacturing during the third quarter valued at approximately $158,000. Barclays PLC lifted its holdings in shares of Virco Manufacturing by 16.4% during the fourth quarter. Barclays PLC now owns 17,665 shares of the company's stock valued at $113,000 after purchasing an additional 2,495 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Virco Manufacturing during the third quarter valued at approximately $41,000. Finally, Minerva Advisors LLC boosted its position in shares of Virco Manufacturing by 6.3% in the 4th quarter. Minerva Advisors LLC now owns 1,448,198 shares of the company's stock worth $9,254,000 after purchasing an additional 85,696 shares in the last quarter. Hedge funds and other institutional investors own 30.97% of the company's stock.

About Virco Manufacturing

Virco Manufacturing Corporation NASDAQ: VIRC is a leading American manufacturer of furniture, primarily serving the K-12 education market. Headquartered in Torrance, California, the company designs, produces and distributes a comprehensive range of classroom seating, student desks, tables and educational workstations. Over several decades, Virco has built a reputation for durable, cost-effective solutions tailored to the needs of schools, colleges and other institutional customers.

The company's product portfolio includes molded plastic and wood-seat student chairs, modular and fixed-height desks, multi-purpose tables, computer furniture, laboratory stools and teacher furnishings.

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