Victory Capital (NASDAQ:VCTR) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Victory Capital (NASDAQ:VCTR) from a hold rating to a sell rating in a research note released on Wednesday, Zacks.com reports.

According to Zacks, “Victory Capital Holdings, Inc. is an integrated multi-boutique asset management firm. The company provides institutions, financial advisors and retirement platforms which include separately managed accounts, collective trusts, mutual funds, ETFs and UMA/SMA vehicles. Victory Capital Holdings, Inc. is headquartered in Cleveland, Ohio. “

VCTR has been the subject of a number of other reports. Barclays lifted their target price on Victory Capital from $19.00 to $21.00 and gave the company an overweight rating in a research report on Thursday, July 9th. B. Riley decreased their target price on Victory Capital from $25.00 to $22.00 and set a buy rating for the company in a research report on Tuesday, April 21st. Bank of America lifted their target price on Victory Capital from $20.00 to $22.00 and gave the company a buy rating in a research report on Friday, July 10th. BidaskClub raised Victory Capital from a hold rating to a buy rating in a research report on Friday, July 3rd. Finally, JPMorgan Chase & Co. lifted their target price on Victory Capital from $14.00 to $17.00 and gave the company a neutral rating in a research report on Tuesday, May 12th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $22.19.

Shares of VCTR stock opened at $17.75 on Wednesday. Victory Capital has a 52-week low of $10.18 and a 52-week high of $24.83. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.54 and a current ratio of 0.54. The firm has a market capitalization of $1.24 billion, a P/E ratio of 6.08, a P/E/G ratio of 0.29 and a beta of 1.15. The stock has a 50 day moving average price of $17.62 and a 200 day moving average price of $17.64.

Victory Capital (NASDAQ:VCTR) last issued its earnings results on Monday, May 11th. The company reported $0.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.03. The business had revenue of $204.42 million during the quarter, compared to analyst estimates of $210.52 million. Victory Capital had a return on equity of 40.74% and a net margin of 18.53%. As a group, sell-side analysts forecast that Victory Capital will post 3.36 EPS for the current year.

In other Victory Capital news, Director James B. Hawkes bought 4,404 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were purchased at an average cost of $15.76 per share, for a total transaction of $69,407.04. Following the purchase, the director now directly owns 2,000 shares in the company, valued at $31,520. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James B. Hawkes bought 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The shares were acquired at an average price of $13.96 per share, for a total transaction of $279,200.00. Following the completion of the purchase, the director now owns 2,000 shares in the company, valued at $27,920. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 55,404 shares of company stock worth $827,867. 10.16% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in VCTR. Rockefeller Capital Management L.P. grew its stake in Victory Capital by 56.2% during the 1st quarter. Rockefeller Capital Management L.P. now owns 4,132 shares of the company’s stock valued at $68,000 after purchasing an additional 1,486 shares during the last quarter. Sowell Financial Services LLC purchased a new stake in Victory Capital during the 1st quarter valued at about $104,000. Victory Capital Management Inc. grew its stake in Victory Capital by 15.9% during the 4th quarter. Victory Capital Management Inc. now owns 8,096 shares of the company’s stock valued at $170,000 after purchasing an additional 1,108 shares during the last quarter. Sawgrass Asset Management LLC purchased a new stake in Victory Capital during the 1st quarter valued at about $217,000. Finally, Alps Advisors Inc. purchased a new stake in Victory Capital during the 1st quarter valued at about $269,000. Hedge funds and other institutional investors own 17.59% of the company’s stock.

Victory Capital Company Profile

Victory Capital Holdings, Inc, together with its subsidiaries, operates as an independent investment management company in the United States. It offers investment advisory, fund administration, and distribution services through broker-dealers, retirement platforms, and registered investment advisor networks.

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