VIZIO (NYSE:VZIO) Trading Down 4.4% Following Insider Selling

VIZIO Holding Corp. (NYSE:VZIO)’s stock price dropped 4.4% during trading on Wednesday following insider selling activity. The stock traded as low as $18.93 and last traded at $18.99. Approximately 17,819 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 860,824 shares. The stock had previously closed at $19.86.

Specifically, major shareholder V-Tw Holdings, Llc sold 1,743 shares of the company’s stock in a transaction that occurred on Tuesday, August 17th. The stock was sold at an average price of $20.10, for a total value of $35,034.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

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A number of equities analysts have recently weighed in on VZIO shares. Zacks Investment Research upgraded VIZIO from a “sell” rating to a “hold” rating in a research note on Tuesday, August 10th. Piper Sandler raised their target price on VIZIO from $29.00 to $31.00 and gave the company an “overweight” rating in a report on Wednesday, May 12th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $30.29.

The stock has a 50-day simple moving average of $23.69.

VIZIO (NYSE:VZIO) last posted its quarterly earnings data on Wednesday, August 4th. The company reported ($0.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.02). The firm had revenue of $401.16 million during the quarter, compared to analysts’ expectations of $390.02 million. During the same period in the previous year, the business posted $0.09 earnings per share. The company’s quarterly revenue was up 2.0% on a year-over-year basis. On average, equities research analysts anticipate that VIZIO Holding Corp. will post -0.18 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of VZIO. Ameriprise Financial Inc. bought a new stake in VIZIO in the 1st quarter valued at about $30,314,000. Shelter Haven Capital Management L.P. bought a new stake in VIZIO in the 1st quarter valued at about $24,140,000. The Manufacturers Life Insurance Company bought a new stake in VIZIO in the 2nd quarter valued at about $22,854,000. Vanguard Group Inc. increased its position in VIZIO by 77.1% in the 2nd quarter. Vanguard Group Inc. now owns 1,656,777 shares of the company’s stock valued at $44,750,000 after buying an additional 721,205 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in VIZIO in the 1st quarter valued at about $16,741,000. 5.52% of the stock is owned by hedge funds and other institutional investors.

VIZIO Company Profile (NYSE:VZIO)

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 home entertainment solution, and data intelligence and services products through Inscape.

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