Walleye Capital LLC Buys New Shares in Visteon Corporation $VC

Walleye Capital LLC bought a new position in shares of Visteon Corporation (NASDAQ:VC) in the 1st quarter, Holdings Channel.com reports. The fund bought 92,667 shares of the company’s stock, valued at approximately $8,443,000.

Several other large investors also recently bought and sold shares of VC. Dimensional Fund Advisors LP raised its position in Visteon by 14.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,403,695 shares of the company’s stock valued at $127,879,000 after purchasing an additional 175,679 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Visteon by 16.3% during the fourth quarter. Victory Capital Management Inc. now owns 1,334,406 shares of the company’s stock worth $126,902,000 after buying an additional 187,347 shares in the last quarter. Invesco Ltd. increased its stake in shares of Visteon by 8.4% during the fourth quarter. Invesco Ltd. now owns 1,253,628 shares of the company’s stock worth $119,220,000 after buying an additional 97,100 shares during the period. State Street Corp increased its stake in shares of Visteon by 3.1% during the second quarter. State Street Corp now owns 1,107,091 shares of the company’s stock worth $103,292,000 after buying an additional 33,155 shares during the period. Finally, Wellington Management Group LLP raised its holdings in Visteon by 5.2% in the fourth quarter. Wellington Management Group LLP now owns 844,065 shares of the company’s stock valued at $80,271,000 after acquiring an additional 41,922 shares in the last quarter. Hedge funds and other institutional investors own 99.71% of the company’s stock.

Visteon Price Performance

VC stock opened at $103.16 on Thursday. The business has a 50 day moving average price of $111.14 and a 200 day moving average price of $102.18. The company has a quick ratio of 1.43, a current ratio of 1.73 and a debt-to-equity ratio of 0.17. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 0.78 and a beta of 1.29. Visteon Corporation has a fifty-two week low of $83.49 and a fifty-two week high of $129.10.

Visteon (NASDAQ:VC) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $1.65 EPS for the quarter, missing the consensus estimate of $1.96 by ($0.31). Visteon had a net margin of 5.99% and a return on equity of 15.93%. The company had revenue of $954.00 million during the quarter, compared to analysts’ expectations of $901.33 million. During the same quarter in the prior year, the company earned $2.47 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities research analysts anticipate that Visteon Corporation will post 8.67 earnings per share for the current fiscal year.

Visteon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a $0.375 dividend. The ex-dividend date was Monday, June 1st. This represents a $1.50 annualized dividend and a dividend yield of 1.5%. Visteon’s dividend payout ratio is presently 18.27%.

Insiders Place Their Bets

In related news, SVP Robert R. Vallance sold 2,000 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $116.50, for a total value of $233,000.00. Following the transaction, the senior vice president directly owned 18,469 shares of the company’s stock, valued at $2,151,638.50. This trade represents a 9.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sachin Lawande sold 38,817 shares of the stock in a transaction on Friday, April 24th. The shares were sold at an average price of $113.63, for a total transaction of $4,410,775.71. Following the completion of the transaction, the chief executive officer directly owned 193,822 shares in the company, valued at $22,023,993.86. This trade represents a 16.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 47,892 shares of company stock worth $5,487,239. 2.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on VC. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Visteon from $133.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Morgan Stanley increased their price objective on shares of Visteon from $115.00 to $130.00 and gave the company an “equal weight” rating in a research report on Friday, June 26th. Wells Fargo & Company reduced their price objective on shares of Visteon from $139.00 to $137.00 and set an “overweight” rating on the stock in a report on Thursday, June 25th. Wolfe Research raised shares of Visteon from a “peer perform” rating to an “outperform” rating and set a $135.00 price objective for the company in a research report on Monday, April 27th. Finally, UBS Group boosted their target price on shares of Visteon from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Eleven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $135.46.

Visteon Company Profile

Visteon Corporation is a global automotive electronics supplier that specializes in designing, engineering and manufacturing cockpit electronics and connected vehicle solutions. The company’s product portfolio spans digital instrument clusters, infotainment systems, domain controllers and advanced driver interaction technologies. By integrating hardware, software and services, Visteon aims to deliver complete cockpit electronics platforms that enhance driver experience, safety and connectivity.

Founded in 2000 as a spin-off from Ford Motor Company, Visteon has evolved its focus toward next-generation electronics and software-driven vehicle architectures.