Steinberg Asset Management Lowers stake in Visteon Corp (VC)

Visteon Corp (VC) : Steinberg Asset Management reduced its stake in Visteon Corp by 53.28% during the most recent quarter end. The investment management company now holds a total of 198,473 shares of Visteon Corp which is valued at $14,008,224 after selling 226,361 shares in Visteon Corp , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Visteon Corp makes up approximately 3.43% of Steinberg Asset Management’s portfolio.

Other Hedge Funds, Including , Hatteras Funds reduced its stake in VC by selling 500 shares or 15.15% in the most recent quarter. The Hedge Fund company now holds 2,800 shares of VC which is valued at $197,624. Visteon Corp makes up approx 0.51% of Hatteras Funds’s portfolio. Thrivent Financial For Lutherans added VC to its portfolio by purchasing 48,960 company shares during the most recent quarter which is valued at $3,455,597. Visteon Corp makes up approx 0.02% of Thrivent Financial For Lutherans’s portfolio. Insight Capital Research Management Inc sold out all of its stake in VC during the most recent quarter. The investment firm sold 18,606 shares of VC which is valued $1,286,047.Meeder Asset Management Inc reduced its stake in VC by selling 5,432 shares or 77.12% in the most recent quarter. The Hedge Fund company now holds 1,612 shares of VC which is valued at $109,600. Visteon Corp makes up approx 0.01% of Meeder Asset Management Inc’s portfolio.

Visteon Corp opened for trading at $70.94 and hit $71.57 on the upside on Thursday, eventually ending the session at $71.28, with a gain of 0.82% or 0.58 points. The heightened volatility saw the trading volume jump to 2,67,080 shares. Company has a market cap of $2,424 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.

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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