American Century Companies Inc., a well-known investment management firm, recently increased its holdings in VIZIO Holding Corp. during the first quarter of this year. According to the company’s Form 13F filing with the Securities and Exchange Commission (SEC), American Century Companies Inc. raised its ownership stake by 7.5%. As a result, the firm now owns 2,055,723 shares of VIZIO’s stock, representing an additional 143,837 shares acquired during the quarter.
Based on the most recent filing with the SEC, American Century Companies Inc.’s ownership in VIZIO is valued at approximately $18,872,000. This accounts for about 1.05% of VIZIO’s overall worth as of September 2, 2023.
VIZIO Holding Corp., along with its subsidiaries, primarily operates in the United States and provides a range of smart televisions, sound bars, and accessories to consumers. The company also offers an integrated home entertainment solution called SmartCast through its Platform+ system. Additionally, VIZIO provides data intelligence and services products via its subsidiary Inscape.
This increase in ownership by American Century Companies Inc. may indicate confidence in VIZIO’s future prospects within the market. It suggests that American Century Companies Inc. believes VIZIO has significant potential for growth and success moving forward.
While it is important to note that investment decisions can be influenced by various factors specific to each investor and their strategy, monitoring changes in institutional ownership can provide valuable insights into a company’s attractiveness to professional investors.
This development could be of interest to investors who follow stock movements and seek information on companies like VIZIO Holding Corp. Analyzing such details can assist investors in making informed decisions based on varying factors such as financial performance or market trends.
For further analysis and information regarding VIZIO Holding Corp.’s stock performance or other related topics, interested readers may refer to our latest stock analysis on the company. This resource can provide additional insights into VIZIO’s current market position and potential future direction.
It should be noted that investing in the stock market carries inherent risks, and any decisions made should be based on careful consideration of an individual’s financial goals and risk tolerance. It is always advisable to seek professional advice or conduct thorough research before making any investment decisions.
[bs_slider_forecast ticker=”VZIO”]
Recent Changes in Ownership and Varied Outlooks Shape VIZIO Holding Corp.’s Stock Future
In recent months, there have been significant changes in the positions of hedge funds and institutional investors regarding VIZIO Holding Corp. Wellington Management Group LLP, for instance, has increased its holdings by 33.7% during the first quarter, now owning over 6 million shares worth $57.5 million. Vanguard Group Inc. has also raised its position in VIZIO by 6.9% during the third quarter, now holding over 4 million shares worth $38.6 million.
Moreover, Brown Advisory Inc. has lifted its holdings in VIZIO by 3.3% during the first quarter, making it the owner of approximately 3.8 million shares valued at $34.8 million. BlackRock Inc., on the other hand, has seen a 4.8% increase in its position during the third quarter, with over 3.7 million shares now worth $32.9 million.
The Manufacturers Life Insurance Company has reiterated this trend as well with a stake growth of 6.3%, owning more than 2 million shares currently valued at $15.8 million.
It is important to note that these figures indicate a significant ownership of VIZIO by hedge funds and other institutional investors who collectively own approximately 23.81% of the company’s stock.
Recent commentaries from several brokerages shed light on how market professionals perceive VIZIO’s future prospects.
JPMorgan Chase & Co., for example, expressed a positive outlook and maintained their “overweight” rating for VIZIO despite reducing their price objective from $13 to $12 recently.
Stephens also expressed a favorable view but did lower their price target from $17 to $16.
Bank of America took a different stance and downgraded its rating from “buy” to “underperform,” significantly dropping their price objective from $11 to just $6.
Furthermore, Barrington Research decreased their target price from $15 to $13, while Needham & Company LLC maintained a “buy” rating and set a target price of $11.
Overall, Bloomberg.com’s composite rating for VIZIO indicates a “Moderate Buy” stance with an average target price of $12.
As of the latest trading session, VIZIO stock opened at $5.74 per share on Friday. The company’s fifty-two-week low was recorded at $5.36, while the highest point reached in the past year stood at $12.17.
VIZIO has experienced some volatility in recent months, with its fifty-day moving average currently resting at $6.74 per share, and its two-hundred-day moving average at $7.86.
With regards to financial performance, VIZIO released its most recent earnings results on August 8th. The company reported earnings per share of $0.01 for the quarter, aligning with analyst estimates.
VIZIO generated revenue of $394.40 million during this period, slightly higher than analyst expectations of around $379.57 million.
The company’s net margin stood at 0.55%, while return on equity amounted to 2.52%. Despite a slight decrease in quarterly revenue by 3.5% compared to the previous year, VIZIO remained profitable.
Analysts’ forecasts indicate that VIZIO Holding Corp. is expected to post earnings per share of 0.04 for the current fiscal year.
In conclusion, VIZIO Holding Corp.’s stock has undergone notable changes in ownership by hedge funds and institutional investors in recent months. However, opinions regarding the company’s future prospects vary among analysts and brokerage firms reviewed.
Nonetheless, financial performance indicators suggest that VIZIO remains profitable despite a slight decrease in quarterly revenue compared to the previous year.
Investors should carefully consider these factors when making decisions related to their investment in VIZIO stocks.