Private Capital Management LLC lifted its stake in Visteon Corp (NYSE:VC) by 2.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 357,115 shares of the auto parts company’s stock after purchasing an additional 8,563 shares during the quarter. Visteon accounts for about 3.1% of Private Capital Management LLC’s investment portfolio, making the stock its 13th largest holding. Private Capital Management LLC owned 1.28% of Visteon worth $20,920,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Marathon Asset Management LLP acquired a new position in shares of Visteon in the 2nd quarter valued at $37,219,000. Springowl Associates LLC boosted its position in Visteon by 80.3% during the 2nd quarter. Springowl Associates LLC now owns 23,571 shares of the auto parts company’s stock worth $1,381,000 after acquiring an additional 10,500 shares during the period. ARS Investment Partners LLC boosted its position in Visteon by 53.0% during the 1st quarter. ARS Investment Partners LLC now owns 122,645 shares of the auto parts company’s stock worth $8,260,000 after acquiring an additional 42,485 shares during the period. Sumitomo Life Insurance Co. boosted its position in Visteon by 2.7% during the 2nd quarter. Sumitomo Life Insurance Co. now owns 15,098 shares of the auto parts company’s stock worth $884,000 after acquiring an additional 398 shares during the period. Finally, Aperio Group LLC boosted its position in Visteon by 84.9% during the 2nd quarter. Aperio Group LLC now owns 19,758 shares of the auto parts company’s stock worth $1,157,000 after acquiring an additional 9,073 shares during the period.
In other Visteon news, Director Harry James Wilson bought 2,000 shares of the stock in a transaction on Friday, June 21st. The shares were purchased at an average price of $53.92 per share, with a total value of $107,840.00. Following the acquisition, the director now directly owns 12,000 shares of the company’s stock, valued at approximately $647,040. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.19% of the company’s stock.
A number of brokerages have commented on VC. Robert W. Baird raised their price objective on Visteon from $65.00 to $81.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Zacks Investment Research upgraded Visteon from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 29th. Barclays set a $60.00 price objective on Visteon and gave the stock a “hold” rating in a research report on Friday, July 26th. Royal Bank of Canada set a $65.00 price objective on Visteon and gave the stock a “hold” rating in a research report on Friday, July 26th. Finally, Longbow Research set a $85.00 price objective on Visteon and gave the stock a “buy” rating in a research report on Tuesday, June 11th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $73.53.
Shares of VC traded down $1.93 during midday trading on Wednesday, reaching $76.00. 11,803 shares of the stock were exchanged, compared to its average volume of 612,182. The firm has a 50 day simple moving average of $68.00 and a 200-day simple moving average of $64.67. Visteon Corp has a 12-month low of $44.04 and a 12-month high of $108.42.
Visteon (NYSE:VC) last issued its quarterly earnings data on Thursday, July 25th. The auto parts company reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.07). The company had revenue of $733.00 million during the quarter, compared to analyst estimates of $719.55 million. During the same quarter last year, the firm earned $1.37 earnings per share. The business’s quarterly revenue was down 3.3% compared to the same quarter last year.
Visteon Company Profile
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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