Prudential Financial Inc. lessened its stake in Verso Corp (NYSE:VRS) by 5.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 369,471 shares of the basic materials company’s stock after selling 22,102 shares during the period. Prudential Financial Inc.’s holdings in Verso were worth $7,038,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in shares of Verso by 13.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,810,761 shares of the basic materials company’s stock worth $62,961,000 after buying an additional 332,713 shares in the last quarter. SCW Capital Management LP lifted its stake in shares of Verso by 4.6% in the 1st quarter. SCW Capital Management LP now owns 1,242,598 shares of the basic materials company’s stock worth $26,616,000 after acquiring an additional 55,002 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Verso by 1.3% in the second quarter. JPMorgan Chase & Co. now owns 1,115,693 shares of the basic materials company’s stock valued at $21,053,000 after acquiring an additional 14,605 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Verso by 51.8% in the second quarter. Wells Fargo & Company MN now owns 697,807 shares of the basic materials company’s stock valued at $13,293,000 after acquiring an additional 238,193 shares in the last quarter. Finally, Skylands Capital LLC boosted its holdings in shares of Verso by 9.2% in the second quarter. Skylands Capital LLC now owns 616,400 shares of the basic materials company’s stock valued at $11,742,000 after acquiring an additional 51,900 shares in the last quarter. Hedge funds and other institutional investors own 90.74% of the company’s stock.
NYSE:VRS traded up $0.13 during mid-day trading on Wednesday, reaching $11.36. 5,612 shares of the stock were exchanged, compared to its average volume of 369,986. The business has a fifty day moving average price of $12.36 and a 200 day moving average price of $18.11. The firm has a market capitalization of $387.21 million, a PE ratio of 3.05 and a beta of 1.96. Verso Corp has a 1-year low of $9.61 and a 1-year high of $34.60. The company has a current ratio of 2.07, a quick ratio of 0.63 and a debt-to-equity ratio of 0.06.
Verso (NYSE:VRS) last posted its quarterly earnings results on Thursday, August 8th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.86) by $1.98. Verso had a return on equity of 18.97% and a net margin of 3.64%. The company had revenue of $602.00 million for the quarter, compared to analysts’ expectations of $632.30 million. On average, sell-side analysts forecast that Verso Corp will post 0.89 earnings per share for the current year.
Several equities research analysts recently commented on the company. ValuEngine cut Verso from a “hold” rating to a “sell” rating in a report on Thursday, May 23rd. Zacks Investment Research lowered Verso from a “buy” rating to a “hold” rating in a research note on Thursday, August 15th. Finally, B. Riley lowered their price target on Verso from $26.00 to $17.50 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. Verso currently has a consensus rating of “Hold” and a consensus price target of $29.17.
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, packaging, inkjet and digital, supercalendered, and uncoated freesheet papers; and bleached and unbleached market kraft pulp to manufacture printing, writing, and tissue products.
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