Gabelli Funds LLC Lowers Position in Visteon Corp (VC)

Gabelli Funds LLC lowered its stake in Visteon Corp (NYSE:VC) by 3.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 83,400 shares of the auto parts company’s stock after selling 3,400 shares during the period. Gabelli Funds LLC owned 0.29% of Visteon worth $7,748,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of VC. Janus Henderson Group PLC increased its holdings in shares of Visteon by 97.8% in the second quarter. Janus Henderson Group PLC now owns 1,868,892 shares of the auto parts company’s stock valued at $241,536,000 after purchasing an additional 923,916 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Visteon by 22.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,476,560 shares of the auto parts company’s stock worth $320,071,000 after acquiring an additional 449,197 shares during the period. Baird Financial Group Inc. acquired a new stake in Visteon during the 2nd quarter worth $25,994,000. Robecosam AG grew its holdings in Visteon by 39.2% during the 3rd quarter. Robecosam AG now owns 543,000 shares of the auto parts company’s stock worth $50,749,000 after acquiring an additional 153,000 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new stake in Visteon during the 2nd quarter worth $17,615,000.

A number of research firms have commented on VC. JPMorgan Chase & Co. lowered their target price on shares of Visteon from $128.00 to $124.00 and set a “neutral” rating for the company in a report on Friday, July 27th. Royal Bank of Canada reaffirmed a “hold” rating and set a $123.00 target price on shares of Visteon in a report on Friday, July 27th. Wells Fargo & Co lowered their target price on shares of Visteon from $86.00 to $73.00 and set a “market perform” rating for the company in a report on Friday, October 26th. Wolfe Research began coverage on shares of Visteon in a report on Tuesday, October 2nd. They set a “peer perform” rating for the company. Finally, TheStreet lowered shares of Visteon from a “b-” rating to a “c” rating in a report on Thursday, October 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $134.00.

In other news, insider Robert R. Vallance sold 850 shares of Visteon stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $116.85, for a total transaction of $99,322.50. Following the transaction, the insider now directly owns 4,414 shares of the company’s stock, valued at $515,775.90. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Harry James Wilson purchased 5,000 shares of Visteon stock in a transaction dated Wednesday, October 31st. The shares were purchased at an average cost of $76.95 per share, for a total transaction of $384,750.00. Following the completion of the transaction, the director now owns 2,000 shares of the company’s stock, valued at $153,900. The disclosure for this purchase can be found here. Company insiders own 0.19% of the company’s stock.

Shares of NYSE VC opened at $79.20 on Friday. Visteon Corp has a twelve month low of $67.27 and a twelve month high of $140.64.

Visteon (NYSE:VC) last announced its quarterly earnings results on Thursday, October 25th. The auto parts company reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.03). The firm had revenue of $681.00 million for the quarter, compared to the consensus estimate of $727.48 million.

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Visteon Company Profile

Visteon Corporation is a global automotive supplier that designs, engineers and manufactures electronics products for original equipment vehicle manufacturer (OEM), including Ford, Mazda, Nissan/Renault, General Motors, Honda BMW and Daimler. The Company operates through Electronics segment. The Electronics segment provides vehicle cockpit electronics products to customers, including instrument clusters, information displays, infotainment, audio systems, telematics solutions and head up displays.

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Institutional Ownership by Quarter for Visteon (NYSE:VC)

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