Victory Capital (NASDAQ:VCTR) Stock Price Up 8.3% on Better-Than-Expected Earnings

Victory Capital Holdings, Inc. (NASDAQ:VCTR) shares rose 8.3% on Friday after the company announced better than expected quarterly earnings. The company traded as high as $70.75 and last traded at $71.12. Approximately 78,956 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 287,367 shares. The stock had previously closed at $65.64.

The company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.07. Victory Capital had a return on equity of 29.92% and a net margin of 30.82%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. The Goldman Sachs Group upped their price target on Victory Capital from $60.00 to $68.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Morgan Stanley upped their target price on Victory Capital from $64.00 to $66.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. B. Riley reissued a “neutral” rating and issued a $60.00 price target (up previously from $57.00) on shares of Victory Capital in a research note on Tuesday, January 7th. Royal Bank of Canada raised their target price on shares of Victory Capital from $61.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Finally, UBS Group upped their price target on shares of Victory Capital from $49.00 to $64.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $65.11.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company raised its stake in shares of Victory Capital by 27.5% in the second quarter. The Manufacturers Life Insurance Company now owns 26,450 shares of the company’s stock valued at $1,262,000 after purchasing an additional 5,697 shares in the last quarter. Truist Financial Corp lifted its holdings in shares of Victory Capital by 11.1% during the 2nd quarter. Truist Financial Corp now owns 22,278 shares of the company’s stock worth $1,063,000 after acquiring an additional 2,220 shares during the period. USA Financial Formulas increased its stake in Victory Capital by 157.9% in the third quarter. USA Financial Formulas now owns 1,104 shares of the company’s stock valued at $61,000 after acquiring an additional 676 shares during the period. Contravisory Investment Management Inc. raised its position in Victory Capital by 53.2% in the third quarter. Contravisory Investment Management Inc. now owns 573 shares of the company’s stock worth $32,000 after purchasing an additional 199 shares in the last quarter. Finally, Ritholtz Wealth Management acquired a new stake in Victory Capital during the third quarter valued at approximately $267,000. Institutional investors and hedge funds own 87.71% of the company’s stock.

Victory Capital Stock Performance

The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.19 and a current ratio of 1.19. The company has a market capitalization of $4.56 billion, a P/E ratio of 17.44, a price-to-earnings-growth ratio of 0.56 and a beta of 0.89. The firm has a 50 day moving average price of $65.43 and a two-hundred day moving average price of $59.77.

Victory Capital Company Profile

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.