Versant (NASDAQ:VSNT) Stock Price Breaks Below Fifty Day Moving Average – Here’s What Happened

Shares of Versant Corporation (NASDAQ:VSNT) passed below its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $33.90 and traded as low as $33.29. Versant shares last traded at $33.69, with a volume of 1,996,868 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on VSNT shares. Arete Research upgraded Versant from a “sell” rating to a “neutral” rating and set a $40.00 price target on the stock in a report on Friday, July 17th. JPMorgan Chase & Co. dropped their price target on Versant from $43.00 to $39.00 and set a “neutral” rating for the company in a research report on Wednesday. Zacks Research raised Versant from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 16th. The Goldman Sachs Group reissued a “neutral” rating and issued a $43.00 price objective on shares of Versant in a report on Friday, September 18th. Finally, Morgan Stanley assumed coverage on Versant in a report on Thursday, October 15th. They set an “equal weight” rating and a $38.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $41.71.

Versant Trading Down 0.9%

The firm has a market capitalization of $4.68 billion and a PE ratio of 9.68. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.38 and a quick ratio of 2.38. The company’s fifty day simple moving average is $33.90 and its 200-day simple moving average is $36.27.

Versant (NASDAQ:VSNT) last released its earnings results on Tuesday, November 3rd. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.31. The business had revenue of $1.59 billion during the quarter. As a group, sell-side analysts expect that Versant Corporation will post 4.27 earnings per share for the current fiscal year.

Versant Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 25th. Investors of record on Monday, January 4th will be paid a $0.3750 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Monday, January 4th. Versant’s dividend payout ratio is currently 43.10%.

Institutional Investors Weigh In On Versant

Several hedge funds have recently made changes to their positions in the company. Citizens National Bank Trust Department acquired a new stake in Versant during the first quarter worth about $26,000. Mather Group LLC. grew its stake in shares of Versant by 253.5% in the third quarter. Mather Group LLC. now owns 951 shares of the company’s stock worth $30,000 after acquiring an additional 682 shares during the last quarter. Parallel Advisors LLC bought a new position in Versant in the first quarter valued at about $32,000. Parkside Financial Bank & Trust bought a new stake in shares of Versant during the 2nd quarter worth approximately $34,000. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Versant during the 1st quarter worth $35,000.

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.