AlphaQuest LLC Cuts Stock Holdings in Visteon Corporation $VC

AlphaQuest LLC reduced its stake in shares of Visteon Corporation (NASDAQ:VC) by 65.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,868 shares of the company’s stock after selling 5,478 shares during the period. AlphaQuest LLC’s holdings in Visteon were worth $268,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. New York State Common Retirement Fund lifted its holdings in Visteon by 6.8% in the first quarter. New York State Common Retirement Fund now owns 9,117 shares of the company’s stock valued at $708,000 after acquiring an additional 584 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Visteon by 12.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,288 shares of the company’s stock valued at $571,000 after acquiring an additional 799 shares during the last quarter. Entropy Technologies LP lifted its holdings in Visteon by 169.5% in the first quarter. Entropy Technologies LP now owns 6,505 shares of the company’s stock valued at $505,000 after acquiring an additional 4,091 shares during the last quarter. Cresset Asset Management LLC acquired a new position in Visteon in the first quarter valued at approximately $210,000. Finally, Nordea Investment Management AB lifted its holdings in Visteon by 26.5% in the second quarter. Nordea Investment Management AB now owns 121,610 shares of the company’s stock valued at $11,343,000 after acquiring an additional 25,467 shares during the last quarter. 99.71% of the stock is currently owned by institutional investors and hedge funds.

Visteon Stock Up 1.7%

Shares of NASDAQ VC opened at $107.16 on Friday. The company has a market capitalization of $2.92 billion, a price-to-earnings ratio of 9.63, a price-to-earnings-growth ratio of 2.52 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.89 and a quick ratio of 1.56. The business has a 50-day moving average of $119.41 and a two-hundred day moving average of $104.11. Visteon Corporation has a 1 year low of $65.10 and a 1 year high of $129.10.

Visteon (NASDAQ:VC) last announced its quarterly earnings results on Thursday, October 23rd. The company reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $0.08. The company had revenue of $917.00 million during the quarter, compared to the consensus estimate of $945.41 million. Visteon had a return on equity of 21.85% and a net margin of 8.22%.Visteon’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.26 EPS. Visteon has set its FY 2025 guidance at EPS. On average, analysts forecast that Visteon Corporation will post 8.42 earnings per share for the current fiscal year.

Visteon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Tuesday, November 18th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, November 18th. Visteon’s payout ratio is presently 9.88%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on VC. Wall Street Zen cut Visteon from a “buy” rating to a “hold” rating in a research note on Saturday. Cfra Research cut Visteon from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, July 24th. Bank of America lifted their price objective on Visteon from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. Barclays set a $130.00 price objective on Visteon in a research note on Monday. Finally, The Goldman Sachs Group set a $150.00 price objective on Visteon and gave the company a “buy” rating in a research note on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Visteon presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.85.

Insider Activity

In other news, Director Francis M. Scricco sold 4,350 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $120.53, for a total value of $524,305.50. Following the completion of the sale, the director directly owned 2,792 shares of the company’s stock, valued at approximately $336,519.76. The trade was a 60.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Robert R. Vallance sold 2,000 shares of the business’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $120.00, for a total value of $240,000.00. Following the completion of the sale, the senior vice president directly owned 18,838 shares of the company’s stock, valued at $2,260,560. The trade was a 9.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 10,392 shares of company stock valued at $1,256,581 over the last three months. Company insiders own 2.00% of the company’s stock.

Visteon Company Profile

Visteon Corporation, an automotive technology company, designs, manufactures, and sells automotive electronics and connected car solutions for vehicle manufacturers worldwide. The company provides instrument clusters, including analog gauge clusters for 2-D and 3-D display-based devices; information displays that integrate a range of user interface technologies and graphics management capabilities, such as active privacy, TrueColor enhancement, local dimming, cameras, optics, haptic feedback, and light effects; and infotainment and connected car solutions, including scalable Android infotainment for seamless connectivity, as well as onboard artificial intelligence-based voice assistants with natural language understanding.