Victory Capital Holdings, Inc. (NASDAQ:VCTR) Short Interest Up 25.0% in September

Victory Capital Holdings, Inc. (NASDAQ:VCTR) saw a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 2,600,000 shares, an increase of 25.0% from the September 15th total of 2,080,000 shares. Based on an average daily trading volume, of 333,400 shares, the days-to-cover ratio is currently 7.8 days.

Institutional Trading of Victory Capital

Institutional investors and hedge funds have recently made changes to their positions in the stock. Contravisory Investment Management Inc. lifted its position in Victory Capital by 53.2% during the third quarter. Contravisory Investment Management Inc. now owns 573 shares of the company’s stock worth $32,000 after buying an additional 199 shares during the period. CWM LLC lifted its position in Victory Capital by 486.2% during the second quarter. CWM LLC now owns 680 shares of the company’s stock worth $32,000 after buying an additional 564 shares during the period. USA Financial Formulas lifted its position in Victory Capital by 157.9% during the third quarter. USA Financial Formulas now owns 1,104 shares of the company’s stock worth $61,000 after buying an additional 676 shares during the period. Amalgamated Bank lifted its position in Victory Capital by 50.7% during the second quarter. Amalgamated Bank now owns 1,423 shares of the company’s stock worth $68,000 after buying an additional 479 shares during the period. Finally, nVerses Capital LLC raised its holdings in shares of Victory Capital by 200.0% in the 2nd quarter. nVerses Capital LLC now owns 2,700 shares of the company’s stock worth $129,000 after purchasing an additional 1,800 shares during the period. 87.71% of the stock is currently owned by hedge funds and other institutional investors.

Victory Capital Price Performance

VCTR stock traded up $1.48 on Tuesday, reaching $60.06. 92,669 shares of the company’s stock were exchanged, compared to its average volume of 384,521. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.87. The firm has a market cap of $3.89 billion, a PE ratio of 18.22, a P/E/G ratio of 0.61 and a beta of 0.91. Victory Capital has a twelve month low of $28.66 and a twelve month high of $60.17. The stock has a fifty day moving average of $53.33 and a 200-day moving average of $50.74.

Victory Capital (NASDAQ:VCTR) last posted its earnings results on Thursday, August 8th. The company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.04. The company had revenue of $219.62 million for the quarter, compared to analyst estimates of $220.82 million. Victory Capital had a return on equity of 29.74% and a net margin of 27.87%. As a group, equities analysts predict that Victory Capital will post 5.19 EPS for the current fiscal year.

Victory Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th were given a $0.41 dividend. This is an increase from Victory Capital’s previous quarterly dividend of $0.37. This represents a $1.64 annualized dividend and a dividend yield of 2.73%. The ex-dividend date was Tuesday, September 10th. Victory Capital’s dividend payout ratio is currently 50.31%.

Wall Street Analyst Weigh In

VCTR has been the subject of several analyst reports. JPMorgan Chase & Co. upped their price target on Victory Capital from $45.00 to $49.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Barclays initiated coverage on Victory Capital in a research note on Tuesday, August 27th. They set an “equal weight” rating and a $58.00 price target for the company. Bank of America upped their price target on Victory Capital from $58.00 to $59.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. The Goldman Sachs Group upped their price target on Victory Capital from $59.50 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, UBS Group dropped their price objective on Victory Capital from $50.00 to $49.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $54.44.

About Victory Capital

Victory Capital Holdings, Inc, together with its subsidiaries, operates as an asset management company in the United States and internationally. It offers investment advisory, fund administration, fund compliance, fund transfer agent, fund distribution, and other management services. The company provides specialized investment strategies to institutions, intermediaries, retirement platforms, and individual investors.