Chicago Equity Partners LLC acquired a new position in shares of Verso Co. (NYSE:VRS) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 61,137 shares of the basic materials company’s stock, valued at approximately $1,074,000. Chicago Equity Partners LLC owned about 0.18% of Verso at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the business. Bank of New York Mellon Corp boosted its position in shares of Verso by 211.0% during the second quarter. Bank of New York Mellon Corp now owns 165,487 shares of the basic materials company’s stock valued at $777,000 after buying an additional 112,269 shares during the period. Acadian Asset Management LLC purchased a new stake in shares of Verso in the fourth quarter valued at approximately $8,377,000. Skylands Capital LLC purchased a new stake in shares of Verso in the fourth quarter valued at approximately $8,282,000. Northern Trust Corp boosted its holdings in shares of Verso by 545.5% in the second quarter. Northern Trust Corp now owns 347,240 shares of the basic materials company’s stock valued at $1,628,000 after purchasing an additional 293,450 shares during the period. Finally, Schwab Charles Investment Management Inc. purchased a new stake in Verso during the second quarter worth $275,000. Institutional investors and hedge funds own 57.34% of the company’s stock.
Verso Co. (NYSE VRS) traded up $0.32 during midday trading on Friday, hitting $17.09. The company had a trading volume of 280,184 shares, compared to its average volume of 482,850. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.80 and a current ratio of 2.15. Verso Co. has a 52-week low of $3.17 and a 52-week high of $18.12. The firm has a market cap of $564.72, a P/E ratio of -10.29 and a beta of 2.02.
Verso (NYSE:VRS) last announced its quarterly earnings results on Tuesday, November 14th. The basic materials company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.15). The company had revenue of $621.00 million for the quarter, compared to analyst estimates of $632.65 million. Verso had a negative return on equity of 6.58% and a negative net margin of 2.35%. sell-side analysts predict that Verso Co. will post -1.17 earnings per share for the current year.
In other Verso news, major shareholder Mudrick Capital Management, L. sold 312,746 shares of the stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $16.63, for a total transaction of $5,200,965.98. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders have sold a total of 1,286,595 shares of company stock worth $21,508,948 over the last ninety days. 4.20% of the stock is owned by insiders.
A number of analysts have weighed in on VRS shares. ValuEngine upgraded Verso from a “sell” rating to a “hold” rating in a report on Sunday, December 31st. Zacks Investment Research upgraded Verso from a “hold” rating to a “strong-buy” rating and set a $20.00 target price for the company in a report on Sunday, January 21st. B. Riley upped their price target on Verso from $11.25 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, December 20th. Finally, BWS Financial set a $20.00 price target on Verso and gave the stock a “buy” rating in a research report on Thursday, January 18th.
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Verso Company Profile
Verso Corporation is a producer of coated papers, which are used in magazines, catalogs, advertising brochures and annual reports, among other media and marketing publications. The Company operates through two segments: paper and pulp. The Paper segment includes paper products, which are used in media and marketing applications, including catalogs, magazines, and commercial printing applications, such as advertising brochures, annual reports and direct-mail advertising.
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