Virco Manufacturing (NASDAQ:VIRC) CEO Purchases $16,794.00 in Stock

Key Points

• CEO Robert Virtue purchased 2,700 shares on April 14 at $6.22 each for $16,794, increasing his stake to 501,824 shares (a 0.54% rise).
• Virco missed expectations for the quarter, reporting EPS of ($0.45) versus consensus ($0.35) and revenue of $26.18 million versus $29.61 million, with a slim net margin of 1.29%.
• The company pays a quarterly dividend of $0.025 (annualized $0.10), a yield of about 1.7% and a payout ratio of 58.82%.

Virco Manufacturing Corporation (NASDAQ:VIRC - Get Free Report) CEO Robert Virtue purchased 2,700 shares of the company's stock in a transaction on Tuesday, April 14th. The stock was purchased at an average price of $6.22 per share, for a total transaction of $16,794.00. Following the purchase, the chief executive officer directly owned 501,824 shares of the company's stock, valued at $3,121,345.28. This trade represents a 0.54% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Virco Manufacturing Price Performance

NASDAQ:VIRC traded up $0.21 during trading hours on Tuesday, reaching $6.06. 36,465 shares of the company's stock were exchanged, compared to its average volume of 44,044. The company has a market capitalization of $95.51 million, a P/E ratio of 35.65 and a beta of 0.27. Virco Manufacturing Corporation has a 12 month low of $5.16 and a 12 month high of $10.62. The company has a quick ratio of 1.31, a current ratio of 3.09 and a debt-to-equity ratio of 0.03. The business's 50-day simple moving average is $6.20 and its two-hundred day simple moving average is $6.62.

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

Virco Manufacturing Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Investors of record on Friday, March 20th were paid a $0.025 dividend. The ex-dividend date of this dividend was Friday, March 20th. This represents a $0.10 dividend on an annualized basis and a yield of 1.7%. Virco Manufacturing's dividend payout ratio (DPR) is currently 58.82%.

Hedge Funds Weigh In On Virco Manufacturing

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Virco Manufacturing in the 3rd quarter worth approximately $41,000. State of Alaska Department of Revenue acquired a new position in Virco Manufacturing in the 4th quarter worth approximately $47,000. Significant Wealth Partners LLC purchased a new stake in Virco Manufacturing in the 3rd quarter worth approximately $86,000. Barclays PLC lifted its position in Virco Manufacturing by 16.4% in the 4th quarter. Barclays PLC now owns 17,665 shares of the company's stock worth $113,000 after buying an additional 2,495 shares in the last quarter. Finally, Park Edge Advisors LLC lifted its position in Virco Manufacturing by 12.9% in the 4th quarter. Park Edge Advisors LLC now owns 18,100 shares of the company's stock worth $116,000 after buying an additional 2,072 shares in the last quarter. Institutional investors and hedge funds own 30.97% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on VIRC shares. Freedom Capital raised shares of Virco Manufacturing from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 9th. Weiss Ratings lowered shares of Virco Manufacturing from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday. One 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 company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold".

Virco Manufacturing Company Profile

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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