Smith Asset Management Group Lp Lowers stake in Visteon Corp (VC)

Visteon Corp (VC) : Smith Asset Management Group Lp reduced its stake in Visteon Corp by 0.42% during the most recent quarter end. The investment management company now holds a total of 612,940 shares of Visteon Corp which is valued at $42,366,413 after selling 2,600 shares in Visteon Corp , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Visteon Corp makes up approximately 1.23% of Smith Asset Management Group Lp’s portfolio.

Other Hedge Funds, Including , Rs Investment Management Co boosted its stake in VC in the latest quarter, The investment management firm added 113,742 additional shares and now holds a total of 307,407 shares of Visteon Corp which is valued at $21,247,972. Visteon Corp makes up approx 0.21% of Rs Investment Management Co’s portfolio.Kirr Marbach Co In boosted its stake in VC in the latest quarter, The investment management firm added 9,840 additional shares and now holds a total of 135,353 shares of Visteon Corp which is valued at $9,355,599. Visteon Corp makes up approx 1.88% of Kirr Marbach Co In’s portfolio.Robeco Institutional Asset Management B.v. reduced its stake in VC by selling 19,141 shares or 25.77% in the most recent quarter. The Hedge Fund company now holds 55,121 shares of VC which is valued at $3,747,677. Visteon Corp makes up approx 0.03% of Robeco Institutional Asset Management B.v.’s portfolio.Pembroke Management Ltd boosted its stake in VC in the latest quarter, The investment management firm added 62,800 additional shares and now holds a total of 250,200 shares of Visteon Corp which is valued at $17,011,098. Visteon Corp makes up approx 1.59% of Pembroke Management Ltd’s portfolio.

Visteon Corp opened for trading at $69.7 and hit $70.92 on the upside on Friday, eventually ending the session at $70.09, with a gain of 1.13% or 0.78 points. The heightened volatility saw the trading volume jump to 8,72,721 shares. Company has a market cap of $2,384 M.

On the company’s financial health, Visteon Corp reported $1.22 EPS for the quarter, beating the analyst consensus estimate by $ 0.55 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.67. The company had revenue of $773.00 million for the quarter, compared to analysts expectations of $819.40 million. The company’s revenue was down -4.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.38 EPS.

Many Wall Street Analysts have commented on Visteon Corp. Deutsche Bank Resumed Visteon Corp on Jul 20, 2016 to “Hold”, Price Target of the shares are set at $89.Visteon Corp was Initiated by Raymond James to “Mkt Perform” on Jun 23, 2016. Company shares were Downgraded by Barclays on May 3, 2016 to ” Equal Weight”, Firm has raised the Price Target to $ 85 from a previous price target of $83 .

Visteon Corporation (Visteon) is a global technology company that designs engineers and manufactures cockpit electronics products and connected car solutions for vehicle manufacturers. The Company manufactures its products for original equipment vehicle manufacturer (OEM) across the world including BMW Chrysler Daimler Ford General Motors Honda Hyundai Kia Nissan PSA Peugeot Citroen Renault Toyota and Volkswagen. The Company operates through the segments including Electronics which provides vehicle cockpit electronics products to customers including audio systems infotainment systems driver information systems connectivity and telematics solutions climate controls and electronic control modules and Other in which it designs and manufactures cockpit modules instrument panels door and console modules and interior trim.

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