Virco Manufacturing (NASDAQ:VIRC) EVP Purchases $26,398.43 in Stock

Key Points

• EVP Douglas Virtue bought 4,349 shares at an average price of $6.07 on April 14 for a total of $26,398.43, raising his stake to 866,188 shares (a 0.50% increase).
• Virco missed quarterly estimates, reporting ($0.45) EPS vs. ($0.35) expected and revenue of $26.18 million versus estimates of $29.61 million.
• The company recently paid a quarterly dividend of $0.025 (annualized $0.10, yield 1.6%), and the stock trades near $6.09 with a market cap of $95.98 million and a P/E of 35.82.

Virco Manufacturing Corporation (NASDAQ:VIRC - Get Free Report) EVP Douglas Virtue bought 4,349 shares of the firm's stock in a transaction that occurred on Tuesday, April 14th. The shares were purchased at an average price of $6.07 per share, for a total transaction of $26,398.43. Following the transaction, the executive vice president owned 866,188 shares of the company's stock, valued at $5,257,761.16. The trade was a 0.50% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Virco Manufacturing Trading Up 0.5%

NASDAQ VIRC traded up $0.03 during mid-day trading on Wednesday, reaching $6.09. 49,737 shares of the stock were exchanged, compared to its average volume of 44,122. Virco Manufacturing Corporation has a 1-year low of $5.16 and a 1-year high of $10.62. The business's fifty day simple moving average is $6.19 and its 200 day simple moving average is $6.61. The stock has a market capitalization of $95.98 million, a PE ratio of 35.82 and a beta of 0.27. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.31 and a current ratio of 3.09.

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

Virco Manufacturing Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 10th. Investors of record on Friday, March 20th were given a dividend of $0.025 per share. The ex-dividend date was Friday, March 20th. This represents a $0.10 dividend on an annualized basis and a yield of 1.6%. Virco Manufacturing's dividend payout ratio (DPR) is 58.82%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on VIRC. Weiss Ratings lowered shares of Virco Manufacturing from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday. Freedom Capital upgraded shares of Virco Manufacturing from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold".

Hedge Funds Weigh In On Virco Manufacturing

Hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Virco Manufacturing in the 3rd quarter valued at $41,000. State of Alaska Department of Revenue acquired a new position in shares of Virco Manufacturing in the 4th quarter valued at $47,000. Significant Wealth Partners LLC acquired a new position in shares of Virco Manufacturing in the 3rd quarter valued at $86,000. Barclays PLC boosted its holdings in shares of Virco Manufacturing by 16.4% in the 4th 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. Finally, Park Edge Advisors LLC boosted its holdings in shares of Virco Manufacturing by 12.9% in the 4th quarter. Park Edge Advisors LLC now owns 18,100 shares of the company's stock valued at $116,000 after purchasing an additional 2,072 shares during the last quarter. Institutional investors and hedge funds 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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