Douglas Virtue Purchases 11,678 Shares of Virco Manufacturing (NASDAQ:VIRC) Stock

Virco Manufacturing Corporation (NASDAQ:VIRC) EVP Douglas Virtue acquired 11,678 shares of Virco Manufacturing stock in a transaction dated Wednesday, April 15th. The stock was purchased at an average cost of $6.09 per share, with a total value of $71,119.02. Following the completion of the purchase, the executive vice president owned 877,866 shares of the company’s stock, valued at approximately $5,346,203.94. This represents a 1.35% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Virco Manufacturing Price Performance

Shares of NASDAQ VIRC traded up $0.03 during midday trading on Wednesday, reaching $6.09. The stock had a trading volume of 49,737 shares, compared to its average volume of 44,122. The stock has a 50-day moving average of $6.19 and a 200-day moving average of $6.61. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.31 and a current ratio of 3.09. The company has a market capitalization of $95.98 million, a price-to-earnings ratio of 35.82 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.

Virco Manufacturing (NASDAQ:VIRC) last announced its quarterly earnings data 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). The firm had revenue of $26.18 million during the quarter, compared to analysts’ expectations of $29.61 million. Virco Manufacturing had a return on equity of 2.18% and a net margin of 1.29%. As a group, research analysts anticipate that Virco Manufacturing Corporation will post 1.54 EPS for the current fiscal year.

Virco Manufacturing Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Stockholders 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 dividend yield of 1.6%. Virco Manufacturing’s dividend payout ratio is 58.82%.

Institutional Trading of Virco Manufacturing

Several hedge funds have recently bought and sold shares of VIRC. Minerva Advisors LLC lifted its stake in 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. AQR Capital Management LLC grew its stake in shares of Virco Manufacturing by 25.7% in the 1st quarter. AQR Capital Management LLC now owns 317,915 shares of the company’s stock worth $3,007,000 after buying an additional 64,944 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of Virco Manufacturing in the 3rd quarter worth $235,000. KTF Investments LLC purchased a new position in shares of Virco Manufacturing in the 4th quarter worth $179,000. Finally, Trexquant Investment LP grew its stake in shares of Virco Manufacturing by 111.0% in the 4th quarter. Trexquant Investment LP now owns 53,145 shares of the company’s stock worth $340,000 after buying an additional 27,963 shares in the last quarter. Hedge funds and other institutional investors own 30.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on VIRC shares. Weiss Ratings cut shares of Virco Manufacturing from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday. Freedom Capital upgraded shares of Virco Manufacturing from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

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.