Viad Corp (NYSE:VVI) director Denise M. Coll has sold a total of 3,681 shares of the company's common stock, according to a recent filing with the Securities and Exchange Commission. The shares were sold at a price of $23.32 per share, totaling approximately $85,840 in the transaction.
The SEC filing indicated that the sale took place on November 1, 2023. Post-transaction, Coll retains ownership of 15,913 shares of Viad Corp's common stock. It's worth noting that the filing included a footnote stating the transaction was reported late due to an "inadvertent administrative error."
Viad Corp, headquartered in Scottsdale, Arizona, operates in the business services sector, providing services under the SIC code 7389. The sale by a director may be of interest to investors tracking insider activity as an indicator of the company's performance and management's confidence in the business.
Investors and shareholders of Viad Corp can stay informed of further insider transactions by following the company's filings and announcements.
In other recent news, Viad Corp has been making notable strides in its operations. The company's Q2 2024 earnings exceeded expectations, driven by strong performances in its Global Experience Specialists (GES) and Pursuit divisions. Despite the significant challenges posed by wildfires in Jasper National Park, GES's revenue growth and margin improvement led to adjusted EBITDA surpassing guidance, while Pursuit's adjusted EBITDA was near the top end of guidance.
Analysts at Oppenheimer have maintained their Outperform rating on Viad Corp, citing strong trends in its operations. The firm's decision follows a recent discussion with the company, which highlighted recovery progress in Jasper post-wildfire and robust trends in its Pursuit segment.
In company developments, Viad Corp announced the appointment of Jill Bright to its Board of Directors. Bright will serve as a Preferred Director until the 2025 annual meeting of stockholders, in accordance with the terms of the Stockholders Agreement with Crestview Partners IV GP, L.P. and affiliated entities.
Looking forward, despite the wildfire-related uncertainties, Viad Corp remains optimistic about the recovery and reopening of attractions. The company is focused on scaling Pursuit through organic and inorganic investments, with $20 million allocated for build and refresh projects in 2024.
InvestingPro Insights
To provide additional context to the recent insider sale by Viad Corp (NYSE:VVI) director Denise M. Coll, let's examine some key financial metrics and insights from InvestingPro.
As of the latest data, Viad Corp has a market capitalization of $789.01 million. The company's stock is currently trading at a P/E ratio of 38.18, which is considered high relative to its earnings. This valuation metric aligns with an InvestingPro Tip indicating that VVI is "Trading at a high earnings multiple."
Despite the high P/E ratio, another InvestingPro Tip suggests that VVI is "Trading at a low P/E ratio relative to near-term earnings growth." This apparent contradiction can be explained by the company's strong revenue growth. In the last quarter, Viad Corp reported a robust revenue growth of 18.18%, signaling positive momentum in its business operations.
It's also noteworthy that Viad Corp's net income is expected to grow this year, according to an InvestingPro Tip. This projection of improved profitability could be a factor for investors to consider when interpreting the insider sale.
For those interested in a more comprehensive analysis, InvestingPro offers 10 additional tips for Viad Corp, providing a deeper understanding of the company's financial health and market position.
The recent stock performance shows a 1-month price total return of 6.5%, indicating short-term positive sentiment. However, the year-to-date return stands at -2.24%, suggesting some volatility in the stock's performance over a longer period.
These insights from InvestingPro offer a broader perspective on Viad Corp's financial situation, which may help investors contextualize the reported insider transaction and make more informed decisions.
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