Virco Mfg. Co. (NASDAQ:VIRC – Get Free Report) was the target of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 3,300 shares, a drop of 70.5% from the August 15th total of 11,200 shares. Based on an average trading volume of 27,000 shares, the short-interest ratio is currently 0.1 days. Approximately 0.0% of the company’s shares are short sold.
Wall Street Analyst Weigh In
Separately, TheStreet upgraded shares of Virco Mfg. from a “c” rating to a “b-” rating in a research report on Monday.
Virco Mfg. Trading Up 8.1 %
Virco Mfg. (NASDAQ:VIRC – Get Free Report) last announced its quarterly earnings data on Monday, June 12th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.08. The firm had revenue of $34.94 million during the quarter, compared to analysts’ expectations of $33.70 million. Virco Mfg. had a net margin of 10.08% and a return on equity of 37.06%. Equities research analysts predict that Virco Mfg. will post 1.12 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in VIRC. D.A. Davidson & CO. grew its holdings in shares of Virco Mfg. by 6.9% in the second quarter. D.A. Davidson & CO. now owns 925,664 shares of the company’s stock valued at $3,860,000 after purchasing an additional 59,891 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Virco Mfg. by 18.2% in the first quarter. Renaissance Technologies LLC now owns 199,330 shares of the company’s stock worth $789,000 after acquiring an additional 30,700 shares during the last quarter. Citadel Advisors LLC purchased a new position in Virco Mfg. in the second quarter worth approximately $105,000. Millennium Management LLC purchased a new position in Virco Mfg. in the fourth quarter worth approximately $110,000. Finally, Jane Street Group LLC purchased a new position in Virco Mfg. in the second quarter worth approximately $57,000. Institutional investors and hedge funds own 18.74% of the company’s stock.
About Virco Mfg.
Virco Mfg. Corporation designs, produces, and distributes furniture in the United States. It offers seating products, including 4-leg chairs, cantilever chairs, mobile task chairs and lab stools, tablet armchairs, steel-frame and floor rockers, series stools, hard plastic seating, folding and upholstered stack chairs, and plastic stack and upholstered ergonomic chairs.
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