Insider Buying: Virco Manufacturing (NASDAQ:VIRC) EVP Acquires $18,300.00 in Stock

Virco Manufacturing Corporation (NASDAQ:VIRC) EVP Douglas Virtue bought 3,000 shares of the company’s stock in a transaction on Tuesday, September 15th. The stock was bought at an average price of $6.10 per share, for a total transaction of $18,300.00. Following the completion of the purchase, the executive vice president directly owned 897,408 shares in the company, valued at approximately $5,474,188.80. This represents a 0.34% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

Virco Manufacturing Stock Performance

Shares of NASDAQ:VIRC opened at $6.27 on Friday. The firm has a market cap of $98.82 million, a PE ratio of -39.19 and a beta of 0.20. The firm’s 50 day simple moving average is $6.08 and its 200-day simple moving average is $6.10. Virco Manufacturing Corporation has a one year low of $5.16 and a one year high of $8.11. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.43 and a current ratio of 2.53.

Virco Manufacturing (NASDAQ:VIRC) last announced its quarterly earnings results on Friday, September 4th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.48. Virco Manufacturing had a negative return on equity of 2.32% and a negative net margin of 1.31%.The firm had revenue of $87.47 million during the quarter, compared to analyst estimates of $72.10 million.

Virco Manufacturing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be given a dividend of $0.025 per share. The ex-dividend date of this dividend is Friday, September 18th. This represents a $0.10 dividend on an annualized basis and a yield of 1.6%. Virco Manufacturing’s payout ratio is -62.50%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. IFP Advisors Inc increased its position in shares of Virco Manufacturing by 101.6% during the second quarter. IFP Advisors Inc now owns 5,857 shares of the company’s stock worth $36,000 after purchasing an additional 2,952 shares in the last quarter. Marquette Asset Management LLC acquired a new stake in shares of Virco Manufacturing in the 2nd quarter worth $42,000. Park Edge Advisors LLC grew its stake in Virco Manufacturing by 60.9% during the 1st quarter. Park Edge Advisors LLC now owns 29,119 shares of the company’s stock worth $178,000 after buying an additional 11,019 shares during the last quarter. Empowered Funds LLC grew its stake in Virco Manufacturing by 4.9% during the 1st quarter. Empowered Funds LLC now owns 39,826 shares of the company’s stock worth $244,000 after buying an additional 1,869 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in Virco Manufacturing during the 2nd quarter valued at about $332,000. Hedge funds and other institutional investors own 30.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on VIRC shares. Wall Street Zen upgraded Virco Manufacturing from a “sell” rating to a “hold” rating in a research note on Saturday, September 5th. Freedom Capital cut shares of Virco Manufacturing from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 4th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Virco Manufacturing in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce”.

Virco Manufacturing Company Profile

Virco Manufacturing Corporation designs, manufactures and distributes furniture and equipment primarily for the education market. Its product portfolio includes student desks and chairs, classroom tables, activity tables, teacher furniture, computer and technology furniture, storage products, and soft-seating solutions.

The company also serves other institutional and commercial customers, including government agencies, businesses, hospitality organizations and community facilities. Virco sells its products through a combination of direct sales and independent dealers, with a focus on schools and other organizations throughout the United States.

Virco was founded in 1950 by Julian Virtue and has developed into a long-standing U.S.