Versant (NASDAQ:VSNT – Free Report) had its price objective lowered by JPMorgan Chase & Co. from $43.00 to $39.00 in a report published on Wednesday,Benzinga reports. The firm currently has a neutral rating on the stock.
Other research analysts have also recently issued reports about the company. Weiss Ratings cut Versant from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, October 8th. Zacks Research raised shares of Versant from a “hold” rating to a “strong-buy” rating in a report on Friday, October 16th. Morgan Stanley initiated coverage on shares of Versant in a research report on Thursday, October 15th. They set an “equal weight” rating and a $38.00 price objective on the stock. TD Cowen boosted their target price on shares of Versant from $35.00 to $39.00 and gave the stock a “hold” rating in a report on Friday, August 7th. Finally, Arete Research upgraded shares of Versant from a “sell” rating to a “neutral” rating and set a $40.00 target price for the company in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $41.71.
View Our Latest Stock Analysis on VSNT
Versant Price Performance
NASDAQ:VSNT traded down $0.31 on Wednesday, reaching $33.69. 1,996,868 shares of the company’s stock traded hands, compared to its average volume of 1,819,116. The stock has a 50-day simple moving average of $33.90 and a 200-day simple moving average of $36.27. Versant has a 12 month low of $27.17 and a 12 month high of $59.00. The firm has a market cap of $4.68 billion and a PE ratio of 9.68. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.35.
Versant (NASDAQ:VSNT – Get Free Report) last released its quarterly earnings data on Tuesday, November 3rd. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.31. The business had revenue of $1.59 billion during the quarter. Equities research analysts forecast that Versant will post 4.27 earnings per share for the current year.
Versant Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, January 25th. Investors of record on Monday, January 4th will be paid a dividend of $0.3750 per share. The ex-dividend date of this dividend is Monday, January 4th. This represents a $1.50 dividend on an annualized basis and a yield of 4.5%. Versant’s dividend payout ratio is presently 43.10%.
Institutional Trading of Versant
A number of large investors have recently added to or reduced their stakes in VSNT. Hsbc Holdings PLC increased its position in Versant by 154.1% in the second quarter. Hsbc Holdings PLC now owns 443,145 shares of the company’s stock worth $16,079,000 after purchasing an additional 268,740 shares during the last quarter. WINTON GROUP Ltd bought a new position in Versant during the second quarter valued at $2,781,000. State Street Corp bought a new position in Versant during the second quarter valued at $171,182,000. Boussard & Gavaudan Gestion Sas purchased a new position in shares of Versant in the 2nd quarter worth $4,198,000. Finally, Gradient Investments LLC purchased a new position in shares of Versant in the 2nd quarter worth $1,350,000.
Versant Company Profile
Versant is a media and entertainment company formed from Comcast’s separation of several NBCUniversal cable networks and digital businesses. Its portfolio includes news brands CNBC and MS NOW, along with entertainment and sports networks such as USA Network, Syfy, E!, Oxygen and Golf Channel.
The company also operates digital and consumer services including Fandango, Rotten Tomatoes, GolfNow and SportsEngine. Through its television networks and online platforms, Versant serves audiences primarily in the United States, with some brands and services reaching international markets.
Versant’s formation followed Comcast’s plan to place many of its cable-focused properties in a separate company.
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