O Shaughnessy Asset Management LLC boosted its stake in shares of Verso Co. (NYSE:VRS) by 367.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 55,662 shares of the basic materials company’s stock after buying an additional 43,759 shares during the period. O Shaughnessy Asset Management LLC owned approximately 0.16% of Verso worth $937,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in VRS. Wells Fargo & Company MN acquired a new stake in Verso during the 3rd quarter worth approximately $130,000. Metropolitan Life Insurance Co. NY acquired a new stake in Verso during the 4th quarter worth approximately $171,000. State Board of Administration of Florida Retirement System acquired a new stake in Verso during the 1st quarter worth approximately $221,000. Stone Ridge Asset Management LLC acquired a new stake in Verso during the 4th quarter worth approximately $242,000. Finally, MetLife Investment Advisors LLC acquired a new stake in Verso during the 4th quarter worth approximately $295,000. Hedge funds and other institutional investors own 84.87% of the company’s stock.
In other news, major shareholder Mudrick Capital Management, L. sold 347,573 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $17.35, for a total transaction of $6,030,391.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 547,573 shares of company stock valued at $9,491,392 over the last ninety days. Company insiders own 4.20% of the company’s stock.
Shares of Verso opened at $20.65 on Friday, according to Marketbeat. Verso Co. has a twelve month low of $19.05 and a twelve month high of $20.19. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.74 and a current ratio of 1.95.
Verso (NYSE:VRS) last issued its quarterly earnings results on Wednesday, May 9th. The basic materials company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.57). The business had revenue of $639.00 million for the quarter, compared to the consensus estimate of $628.16 million. Verso had a negative return on equity of 0.74% and a negative net margin of 0.44%. equities analysts forecast that Verso Co. will post 0.98 EPS for the current fiscal year.
Several equities analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Verso from a “sell” rating to a “hold” rating in a research note on Thursday, May 10th. B. Riley set a $26.00 price target on shares of Verso and gave the stock a “buy” rating in a research note on Thursday, May 10th. ValuEngine raised shares of Verso from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Finally, BWS Financial raised their price target on shares of Verso to $30.00 and gave the stock a “buy” rating in a research note on Friday, March 9th.
Verso Corporation produces and sells coated papers in North America. It operates through two segments, Paper and Pulp. The company offers coated freesheet and coated groundwood, specialty, inkjet and digital, supercalendered, and uncoated freesheet papers; and northern bleached hardwood Kraft pulp to manufacture printing, writing, and specialty paper grades, as well as to manufacture tissue products.
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