Trexquant Investment LP Sells 24,489 Shares of Virco Mfg. Co. (NASDAQ:VIRC)

Trexquant Investment LP trimmed its holdings in shares of Virco Mfg. Co. (NASDAQ:VIRC - Free Report) by 36.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,800 shares of the company's stock after selling 24,489 shares during the period. Trexquant Investment LP owned 0.26% of Virco Mfg. worth $439,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Meeder Asset Management Inc. bought a new stake in shares of Virco Mfg. in the 4th quarter valued at about $72,000. JPMorgan Chase & Co. lifted its stake in Virco Mfg. by 28.5% in the 4th quarter. JPMorgan Chase & Co. now owns 38,828 shares of the company's stock valued at $398,000 after purchasing an additional 8,607 shares during the last quarter. WINTON GROUP Ltd lifted its position in shares of Virco Mfg. by 34.5% in the fourth quarter. WINTON GROUP Ltd now owns 98,360 shares of the company's stock valued at $1,008,000 after buying an additional 25,212 shares during the last quarter. American Century Companies Inc. raised its stake in Virco Mfg. by 15.4% in the 4th quarter. American Century Companies Inc. now owns 453,107 shares of the company's stock valued at $4,644,000 after acquiring an additional 60,403 shares during the period. Finally, Quantbot Technologies LP acquired a new position in shares of Virco Mfg. in the fourth quarter valued at $70,000. 30.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Virco Mfg. from a "hold" rating to a "buy" rating in a research report on Monday.

Virco Mfg. Trading Up 1.6 %

Shares of VIRC stock traded up $0.16 on Friday, hitting $10.42. The company had a trading volume of 77,665 shares, compared to its average volume of 187,231. The firm has a market cap of $169.73 million, a P/E ratio of 6.72 and a beta of 0.41. The stock's 50-day moving average is $10.13 and its two-hundred day moving average is $11.97. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.70 and a current ratio of 2.88. Virco Mfg. Co. has a twelve month low of $8.52 and a twelve month high of $18.50.

Virco Mfg. (NASDAQ:VIRC - Get Free Report) last released its quarterly earnings data on Monday, April 14th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.20). Virco Mfg. had a return on equity of 24.63% and a net margin of 8.93%. The business had revenue of $28.47 million for the quarter, compared to analyst estimates of $43.00 million. On average, equities research analysts anticipate that Virco Mfg. Co. will post 1.54 earnings per share for the current fiscal year.

Virco Mfg. declared that its board has approved a stock buyback program on Tuesday, January 21st that permits the company to buyback $10.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 5.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Virco Mfg. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Wednesday, March 26th were issued 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 0.96%. Virco Mfg.'s dividend payout ratio (DPR) is currently 7.46%.

Virco Mfg. Company 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.