Trexquant Investment LP Sells 24,489 Shares of Virco Mfg. Co. (NASDAQ:VIRC)

Trexquant Investment LP trimmed its position in shares of Virco Mfg. Co. (NASDAQ:VIRC) by 36.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,800 shares of the company’s stock after selling 24,489 shares during the quarter. Trexquant Investment LP owned 0.26% of Virco Mfg. worth $439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in VIRC. IFP Advisors Inc purchased a new position in Virco Mfg. during the fourth quarter worth about $30,000. Quantbot Technologies LP bought a new position in shares of Virco Mfg. during the 4th quarter worth approximately $70,000. Meeder Asset Management Inc. purchased a new position in shares of Virco Mfg. in the 4th quarter worth approximately $72,000. XTX Topco Ltd bought a new position in shares of Virco Mfg. in the third quarter valued at approximately $180,000. Finally, Principal Financial Group Inc. purchased a new stake in shares of Virco Mfg. during the third quarter valued at approximately $194,000. Institutional investors own 30.97% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Virco Mfg. from a “buy” rating to a “hold” rating in a research report on Sunday, April 6th.

Virco Mfg. Stock Performance

NASDAQ VIRC opened at $10.30 on Friday. The company has a market capitalization of $167.78 million, a PE ratio of 6.65 and a beta of 0.41. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.70 and a current ratio of 2.88. Virco Mfg. Co. has a 52-week low of $8.52 and a 52-week high of $18.50. The company has a 50-day simple moving average of $10.22 and a 200 day simple moving average of $12.05.

Virco Mfg. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Wednesday, March 26th were issued a $0.025 dividend. The ex-dividend date was Wednesday, March 26th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.97%. Virco Mfg.’s dividend payout ratio (DPR) is presently 6.45%.

Virco Mfg. announced that its board has initiated a share buyback program on Tuesday, January 21st that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits the company to purchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Virco Mfg. Company Profile

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.