Oribel Capital Management LP lifted its holdings in shares of Visteon Corp (NYSE:VC) by 170.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,100 shares of the auto parts company’s stock after buying an additional 33,500 shares during the quarter. Visteon makes up approximately 2.2% of Oribel Capital Management LP’s investment portfolio, making the stock its 15th largest position. Oribel Capital Management LP owned approximately 0.17% of Visteon worth $6,645,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its stake in Visteon by 6.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,040 shares of the auto parts company’s stock worth $106,000 after acquiring an additional 61 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its stake in shares of Visteon by 3.8% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 11,184 shares of the auto parts company’s stock valued at $1,384,000 after purchasing an additional 412 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of Visteon by 32.3% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 1,773 shares of the auto parts company’s stock valued at $219,000 after purchasing an additional 433 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Visteon by 42.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,758 shares of the auto parts company’s stock valued at $220,000 after purchasing an additional 526 shares during the last quarter. Finally, Aperio Group LLC grew its stake in shares of Visteon by 5.7% in the 4th quarter. Aperio Group LLC now owns 12,623 shares of the auto parts company’s stock valued at $1,580,000 after purchasing an additional 679 shares during the last quarter.
A number of research firms have recently weighed in on VC. Zacks Investment Research cut Visteon from a “buy” rating to a “hold” rating in a report on Thursday, December 28th. B. Riley boosted their price target on Visteon from $140.00 to $162.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Royal Bank of Canada lowered their price target on Visteon to $131.00 and set a “sector perform” rating for the company in a research report on Sunday, January 21st. Guggenheim began coverage on Visteon in a research report on Wednesday, January 3rd. They issued a “buy” rating and a $140.00 target price for the company. Finally, ValuEngine upgraded Visteon from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Visteon currently has an average rating of “Buy” and an average price target of $137.76.
In other news, CEO Sachin Lawande sold 2,500 shares of Visteon stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $130.00, for a total value of $325,000.00. Following the completion of the transaction, the chief executive officer now owns 8,595 shares in the company, valued at $1,117,350. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 11,539 shares of company stock valued at $1,474,051 in the last quarter. 0.19% of the stock is currently owned by corporate insiders.
Shares of Visteon Corp (NYSE VC) traded down $1.52 during trading hours on Wednesday, hitting $122.00. The stock had a trading volume of 271,383 shares, compared to its average volume of 338,028. Visteon Corp has a 12 month low of $91.20 and a 12 month high of $140.64. The firm has a market capitalization of $3,840.00, a P/E ratio of 9.80, a P/E/G ratio of 1.34 and a beta of 0.88. The company has a current ratio of 1.97, a quick ratio of 1.76 and a debt-to-equity ratio of 0.47.
Visteon (NYSE:VC) last released its earnings results on Thursday, February 22nd. The auto parts company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.09). Visteon had a return on equity of 29.13% and a net margin of 4.83%. The firm had revenue of $797.00 million for the quarter, compared to analyst estimates of $797.55 million. During the same period last year, the business earned $1.55 earnings per share. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. research analysts predict that Visteon Corp will post 6.23 EPS for the current fiscal year.
Visteon announced that its board has approved a stock repurchase plan on Tuesday, January 16th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the auto parts company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
Visteon Corporation is a global automotive supplier that designs, engineers and manufactures electronics products for original equipment vehicle manufacturer (OEM), including Ford, Mazda, Nissan/Renault, General Motors, Honda BMW and Daimler. The Company operates through Electronics segment. The Electronics segment provides vehicle cockpit electronics products to customers, including instrument clusters, information displays, infotainment, audio systems, telematics solutions and head up displays.
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