Needham & Company LLC Reaffirms Hold Rating for VIZIO (NYSE:VZIO)

Needham & Company LLC restated their hold rating on shares of VIZIO (NYSE:VZIO) in a research note released on Friday morning, Benzinga reports.

Several other brokerages also recently weighed in on VZIO. Barrington Research upgraded shares of VIZIO from a market perform rating to an outperform rating in a research report on Wednesday, May 29th. Wells Fargo & Company reiterated an equal weight rating and issued a $11.50 price objective (up from $10.00) on shares of VIZIO in a research report on Tuesday, February 27th. Finally, Piper Sandler restated a neutral rating and set a $11.50 price target (down from $12.00) on shares of VIZIO in a research report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $10.77.

VIZIO Stock Performance

VIZIO stock opened at $10.71 on Friday. The firm’s 50-day moving average is $10.66 and its 200-day moving average is $9.61. VIZIO has a 1 year low of $4.82 and a 1 year high of $11.28. The company has a market cap of $2.12 billion, a P/E ratio of 118.79, a PEG ratio of 4.35 and a beta of 2.05.

VIZIO (NYSE:VZIO) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.07). The business had revenue of $353.90 million during the quarter, compared to the consensus estimate of $373.95 million. VIZIO had a return on equity of 3.91% and a net margin of 1.00%. The business’s quarterly revenue was down .8% on a year-over-year basis. As a group, sell-side analysts predict that VIZIO will post 0.1 earnings per share for the current year.

Insider Transactions at VIZIO

In other news, CEO William Wei Wang sold 135,046 shares of VIZIO stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $10.54, for a total value of $1,423,384.84. Following the transaction, the chief executive officer now directly owns 1,529,972 shares of the company’s stock, valued at $16,125,904.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO William Wei Wang sold 135,046 shares of VIZIO stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $10.54, for a total value of $1,423,384.84. Following the transaction, the chief executive officer now directly owns 1,529,972 shares of the company’s stock, valued at $16,125,904.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Adam R. Townsend sold 97,110 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $10.53, for a total transaction of $1,022,568.30. Following the sale, the chief financial officer now owns 482,562 shares of the company’s stock, valued at $5,081,377.86. The disclosure for this sale can be found here. Insiders have sold 305,377 shares of company stock valued at $3,217,108 in the last quarter. Insiders own 44.68% of the company’s stock.

Hedge Funds Weigh In On VIZIO

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its holdings in VIZIO by 54.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 719,379 shares of the company’s stock valued at $3,892,000 after buying an additional 253,750 shares during the period. Dark Forest Capital Management LP bought a new stake in VIZIO in the 3rd quarter valued at $141,000. Algert Global LLC bought a new stake in VIZIO in the 3rd quarter valued at $2,265,000. Trexquant Investment LP increased its holdings in VIZIO by 555.4% in the 3rd quarter. Trexquant Investment LP now owns 220,523 shares of the company’s stock valued at $1,193,000 after buying an additional 186,875 shares during the period. Finally, AXQ Capital LP bought a new stake in shares of VIZIO in the 3rd quarter worth about $63,000. Institutional investors own 66.24% of the company’s stock.

About VIZIO

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.