Victory Capital (NASDAQ:VCTR) Coverage Initiated at Barclays

Equities researchers at Barclays began coverage on shares of Victory Capital (NASDAQ:VCTR) in a report released on Tuesday, MarketBeat reports. The brokerage set an “equal weight” rating and a $58.00 price target on the stock. Barclays‘s price objective would indicate a potential upside of 9.58% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the company. Morgan Stanley increased their price target on Victory Capital from $39.00 to $40.00 and gave the stock an “underweight” rating in a report on Tuesday, August 13th. Bank of America raised their price target on shares of Victory Capital from $58.00 to $59.00 and gave the stock a “buy” rating in a report on Monday, August 12th. The Goldman Sachs Group upped their price objective on shares of Victory Capital from $53.00 to $59.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. JPMorgan Chase & Co. raised their target price on Victory Capital from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Finally, UBS Group cut their price target on Victory Capital from $50.00 to $49.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $53.67.

Victory Capital Stock Performance

VCTR stock opened at $52.93 on Tuesday. Victory Capital has a 1-year low of $28.66 and a 1-year high of $55.16. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.87. The stock has a 50-day moving average price of $50.28 and a 200-day moving average price of $47.07. The firm has a market cap of $3.43 billion, a PE ratio of 16.24, a price-to-earnings-growth ratio of 0.60 and a beta of 0.93.

Institutional Investors Weigh In On Victory Capital

Several large investors have recently made changes to their positions in VCTR. Truist Financial Corp grew its position in Victory Capital by 11.1% during the second quarter. Truist Financial Corp now owns 22,278 shares of the company’s stock valued at $1,063,000 after buying an additional 2,220 shares during the period. Scientech Research LLC purchased a new stake in shares of Victory Capital during the 2nd quarter worth approximately $582,000. Mackenzie Financial Corp purchased a new position in Victory Capital in the second quarter valued at approximately $346,000. The Manufacturers Life Insurance Company raised its stake in shares of Victory Capital by 27.5% in the second quarter. The Manufacturers Life Insurance Company now owns 26,450 shares of the company’s stock valued at $1,262,000 after buying an additional 5,697 shares during the period. Finally, Dark Forest Capital Management LP lifted its position in shares of Victory Capital by 43.2% during the 2nd quarter. Dark Forest Capital Management LP now owns 35,850 shares of the company’s stock valued at $1,711,000 after buying an additional 10,819 shares during the last quarter. 87.71% of the stock is owned by hedge funds and other institutional investors.

About Victory Capital

Victory Capital Holdings, Inc, together with its subsidiaries, operates as an asset management company in the United States and internationally. It offers investment advisory, fund administration, fund compliance, fund transfer agent, fund distribution, and other management services. The company provides specialized investment strategies to institutions, intermediaries, retirement platforms, and individual investors.