Bridgeway Capital Management LLC Has $569,000 Stock Holdings in Virco Mfg. Co. (NASDAQ:VIRC)

Bridgeway Capital Management LLC increased its position in shares of Virco Mfg. Co. (NASDAQ:VIRC) by 16.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 55,500 shares of the company’s stock after purchasing an additional 7,900 shares during the period. Bridgeway Capital Management LLC’s holdings in Virco Mfg. were worth $569,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. IFP Advisors Inc acquired a new stake in Virco Mfg. in the fourth quarter valued at approximately $30,000. Quantbot Technologies LP acquired a new stake in Virco Mfg. in the fourth quarter valued at approximately $70,000. Meeder Asset Management Inc. acquired a new stake in Virco Mfg. in the fourth quarter valued at approximately $72,000. Quarry LP lifted its holdings in shares of Virco Mfg. by 810.2% during the fourth quarter. Quarry LP now owns 8,802 shares of the company’s stock worth $90,000 after purchasing an additional 7,835 shares during the period. Finally, Boothbay Fund Management LLC acquired a new position in shares of Virco Mfg. during the fourth quarter worth $113,000. Institutional investors and hedge funds own 30.97% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Virco Mfg. from a “buy” rating to a “hold” rating in a report on Tuesday, April 22nd.

Virco Mfg. Price Performance

Shares of NASDAQ VIRC opened at $8.77 on Monday. Virco Mfg. Co. has a twelve month low of $8.13 and a twelve month high of $18.50. The firm has a fifty day simple moving average of $9.58 and a 200 day simple moving average of $11.38. The company has a market capitalization of $141.08 million, a PE ratio of 5.66 and a beta of 0.37. The company has a quick ratio of 1.70, a current ratio of 2.88 and a debt-to-equity ratio of 0.03.

Virco Mfg. (NASDAQ:VIRC) last posted its quarterly earnings results on Monday, April 14th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.20). Virco Mfg. had a net margin of 8.93% and a return on equity of 24.63%. The company had revenue of $28.47 million during the quarter, compared to the consensus estimate of $43.00 million. On average, sell-side analysts forecast that Virco Mfg. Co. will post 1.54 EPS for the current year.

Virco Mfg. declared that its board has authorized a stock repurchase program on Tuesday, January 21st that permits the company to buyback $10.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 5.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Virco Mfg. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Wednesday, March 26th were given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 1.14%. The ex-dividend date was Wednesday, March 26th. Virco Mfg.’s payout ratio is presently 7.46%.

About Virco Mfg.

Virco Mfg. Corporation engages in the design, production, and distribution of furniture in the United States and Canada. The company 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.