VIZIO (NYSE:VZIO) Sees Large Volume Increase

VIZIO Holding Corp. (NYSE:VZIO) saw unusually-high trading volume on Tuesday . Approximately 4,459,566 shares traded hands during mid-day trading, an increase of 64% from the previous session’s volume of 2,716,804 shares.The stock last traded at $10.97 and had previously closed at $10.93.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on VZIO. Roth Capital downgraded VIZIO from a “buy” rating to a “neutral” rating in a report on Wednesday, February 21st. Needham & Company LLC restated a “hold” rating on shares of VIZIO in a report on Tuesday, February 20th. Roth Mkm reiterated a “neutral” rating and set a $11.50 price objective (down previously from $12.00) on shares of VIZIO in a research note on Wednesday, February 21st. JPMorgan Chase & Co. restated a “neutral” rating and issued a $11.50 target price (up from $10.00) on shares of VIZIO in a research note on Wednesday, February 21st. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $11.50 price target (down previously from $12.00) on shares of VIZIO in a research note on Wednesday, February 28th. One research analyst has rated the stock with a sell rating and ten have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.77.

VIZIO Stock Down 1.1 %

The stock has a 50 day moving average of $9.52 and a 200 day moving average of $7.46. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 72.93, a P/E/G ratio of 2.16 and a beta of 2.14.

VIZIO (NYSE:VZIO) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.05. VIZIO had a net margin of 1.68% and a return on equity of 6.84%. The firm had revenue of $502.60 million for the quarter, compared to analyst estimates of $498.83 million. During the same quarter in the prior year, the business earned $0.03 earnings per share. VIZIO’s quarterly revenue was down 5.8% on a year-over-year basis. Analysts predict that VIZIO Holding Corp. will post 0.2 earnings per share for the current year.

Insider Buying and Selling

In other VIZIO news, Director David Eugene Russell sold 300,000 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $9.91, for a total transaction of $2,973,000.00. Following the completion of the transaction, the director now directly owns 2,536,542 shares of the company’s stock, valued at approximately $25,137,131.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 45.06% of the stock is owned by company insiders.

Hedge Funds Weigh In On VIZIO

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of VIZIO by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 6,768,212 shares of the company’s stock valued at $52,115,000 after acquiring an additional 141,792 shares in the last quarter. Wellington Management Group LLP lifted its holdings in VIZIO by 33.7% in the 1st quarter. Wellington Management Group LLP now owns 6,466,681 shares of the company’s stock valued at $57,489,000 after acquiring an additional 1,629,570 shares during the last quarter. BlackRock Inc. boosted its position in shares of VIZIO by 16.7% during the 2nd quarter. BlackRock Inc. now owns 4,606,253 shares of the company’s stock valued at $31,092,000 after purchasing an additional 659,827 shares in the last quarter. American Century Companies Inc. lifted its stake in VIZIO by 20.2% during the third quarter. American Century Companies Inc. now owns 3,130,122 shares of the company’s stock valued at $16,934,000 after purchasing an additional 525,334 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in VIZIO by 8.2% during the fourth quarter. The Manufacturers Life Insurance Company now owns 2,488,732 shares of the company’s stock worth $19,163,000 after buying an additional 188,430 shares in the last quarter. Institutional investors own 66.24% of the company’s stock.

VIZIO Company Profile

VIZIO Holding Corp., through its subsidiaries, provides smart televisions, sound bars, and accessories in the United States. It also operates Platform+ that comprises SmartCast, a Smart TV operating system, enabling integrated entertainment solution, and data intelligence and services products through Inscape.