Virco Manufacturing (NASDAQ:VIRC) CEO Acquires $18,216.00 in Stock

Virco Manufacturing Corporation (NASDAQ:VIRC) CEO Robert Virtue bought 3,300 shares of the stock in a transaction that occurred on Friday, April 10th. The shares were bought at an average cost of $5.52 per share, with a total value of $18,216.00. Following the completion of the transaction, the chief executive officer owned 499,124 shares in the company, valued at $2,755,164.48. The trade was a 0.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Virco Manufacturing Stock Up 0.5%

Shares of NASDAQ:VIRC opened at $6.09 on Thursday. The firm has a market cap of $95.98 million, a P/E ratio of 35.82 and a beta of 0.27. The company has a quick ratio of 1.31, a current ratio of 3.09 and a debt-to-equity ratio of 0.03. Virco Manufacturing Corporation has a 12-month low of $5.16 and a 12-month high of $10.62. The business has a fifty day simple moving average of $6.18 and a 200 day simple moving average of $6.61.

Virco Manufacturing (NASDAQ:VIRC) last announced its earnings results on Wednesday, April 8th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.10). The company 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%. Analysts predict that Virco Manufacturing Corporation will post 1.54 earnings per share for the current year.

Virco Manufacturing Dividend Announcement

The business 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. This represents a $0.10 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Friday, March 20th. Virco Manufacturing’s dividend payout ratio (DPR) is currently 58.82%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on VIRC shares. Freedom Capital raised Virco Manufacturing from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 9th. Weiss Ratings lowered Virco Manufacturing from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Virco Manufacturing has a consensus rating of “Hold”.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Virco Manufacturing in the 3rd quarter worth about $41,000. State of Alaska Department of Revenue bought a new position in shares of Virco Manufacturing in the 4th quarter worth about $47,000. Significant Wealth Partners LLC bought a new position in shares of Virco Manufacturing in the 3rd quarter worth about $86,000. Barclays PLC raised its position in shares of 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 acquiring an additional 2,495 shares in the last quarter. Finally, Park Edge Advisors LLC grew its stake 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 buying an additional 2,072 shares during the period. 30.97% of the stock is owned by institutional investors.

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.