Mudrick Capital Management, L. Sells 60,000 Shares of Verso Co. (VRS) Stock

Verso Co. (NYSE:VRS) major shareholder Mudrick Capital Management, L. sold 60,000 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $17.15, for a total transaction of $1,029,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Mudrick Capital Management, L. also recently made the following trade(s):

  • On Wednesday, February 21st, Mudrick Capital Management, L. sold 347,573 shares of Verso stock. The shares were sold at an average price of $17.35, for a total transaction of $6,030,391.55.
  • On Friday, January 12th, Mudrick Capital Management, L. sold 50,000 shares of Verso stock. The shares were sold at an average price of $16.43, for a total transaction of $821,500.00.
  • On Wednesday, January 10th, Mudrick Capital Management, L. sold 125,000 shares of Verso stock. The shares were sold at an average price of $16.91, for a total transaction of $2,113,750.00.
  • On Wednesday, January 3rd, Mudrick Capital Management, L. sold 312,746 shares of Verso stock. The shares were sold at an average price of $16.63, for a total transaction of $5,200,965.98.
  • On Friday, January 5th, Mudrick Capital Management, L. sold 798,849 shares of Verso stock. The stock was sold at an average price of $16.74, for a total transaction of $13,372,732.26.

Verso Co. (VRS) opened at $16.87 on Friday. The company has a market cap of $597.53 and a price-to-earnings ratio of -10.04. Verso Co. has a twelve month low of $3.17 and a twelve month high of $18.12. The company has a quick ratio of 0.80, a current ratio of 2.15 and a debt-to-equity ratio of 0.35.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its holdings in Verso by 211.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 165,487 shares of the basic materials company’s stock worth $777,000 after acquiring an additional 112,269 shares during the period. Acadian Asset Management LLC bought a new position in Verso in the 4th quarter worth $8,377,000. Skylands Capital LLC bought a new position in Verso in the 4th quarter worth $8,282,000. Northern Trust Corp raised its holdings in Verso by 545.5% in the 2nd quarter. Northern Trust Corp now owns 347,240 shares of the basic materials company’s stock worth $1,628,000 after acquiring an additional 293,450 shares during the period. Finally, Schwab Charles Investment Management Inc. bought a new position in Verso in the 2nd quarter worth $275,000. Hedge funds and other institutional investors own 62.79% of the company’s stock.

Several research analysts recently commented on the stock. B. Riley upgraded shares of Verso to a “buy” rating and set a $22.00 target price on the stock in a report on Friday, February 16th. Zacks Investment Research downgraded shares of Verso from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 25th. BWS Financial set a $20.00 target price on shares of Verso and gave the stock a “buy” rating in a report on Thursday, January 18th. Finally, ValuEngine upgraded shares of Verso from a “sell” rating to a “hold” rating in a report on Friday, February 2nd.

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About Verso

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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