Craig Hallum initates Viad Corp (VVI) rating to a Buy


Viad Corp’s recently made public that its Director Schechter Joshua acquired Company’s shares for reported $43691.0 on May 09. In the deal valued at $21.85 per share,2,000 shares were bought. As a result of this transaction, Schechter Joshua now holds 49,323 shares worth roughly $ 1.46 million.

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Craig Hallum initiated its Viad Corp [VVI] rating to a Buy in a research note published on Friday, June 28, 2023; the price target was $40. PT values the company’s stock at a premium of 25.95 to its Friday closing price.

Price Performance Review of VVI

On Friday, Viad Corp [NYSE:VVI] saw its stock jump 4.33% to $29.62. On the same session, the stock had its day’s lowest price of $28.54, but rose to a high of $29.87. Over the last five days, the stock has gained 5.90%. Viad Corp shares have risen nearly 21.44% since the year began. Nevertheless, the stocks have fallen -22.42% over the past one year. While a 52-week high of $39.65 was reached on 02/02/23, a 52-week low of $17.09 was recorded on 04/26/23. SMA at 50 days reached $27.73, while 200 days put it at $25.25. A total of 0.1 million shares were traded, compared to the trading of 77100.0 shares in the previous session.

Levels Of Support And Resistance For VVI Stock

The 24-hour chart illustrates a support level at 28.82, which if violated will result in even more drops to 28.01. On the upside, there is a resistance level at 30.15. A further resistance level may holdings at 30.67. The Relative Strength Index (RSI) on the 14-day chart is 61.45, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.24, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 11.31%. Stochastics %K at 61.58% indicates the stock is a holding.

How much short interest is there in Viad Corp?

A steep rise in short interest was recorded in Viad Corp stocks on Aug 14, 2023, dropping by -0.13 million shares to a total of 0.33 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 0.45 million shares. There was a decline of -38.68%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.95% of the overall stock float, the days-to-cover ratio (short ratio) fell to 4.19.

Viad Corp [VVI] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 3,111,687 shares, or roughly 14.94% of the outstanding VVI shares. In other words, the investor’s shares have fallen by -67,096 from its previous 13-F filing of 3178783.0. Additionally, River Road Asset Management LLC increased 4.99% of its stake after which the total value it holdings stand at $51,284,313, while Victory Capital Management, Inc. reduced -0.31% of its stake to hold $48.74 million in the firm. Over the last quarter, Allspring Global Investments LLC sold -2,248 shares of Viad Corp, while The Vanguard Group, Inc. sold -11,906 shares. At present, Blue Grotto Capital LLC is holding 1,147,536 shares valued at $32.37 million. Cannell Capital LLC owned 873,294 shares of the company at the time of its most recent 13F filing, worth $24.64 million.

According to FactSet, Viad Corp’s share price will average $39.67 in the next year, based on opinions of analysts polled by the firm. This is up nearly 40.89 percent from its previous closing price of $28.39. Analysts expect Viad Corp stock to reach the higher price of $43.00, while the lowest price estimate is $36.00. However, 4 analysts have rated VVI stock as an Overweight in their predictions for 2023.


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