AQR Capital Management LLC grew its holdings in Verso Corp (NYSE:VRS) by 12.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,027,272 shares of the basic materials company’s stock after purchasing an additional 114,995 shares during the quarter. AQR Capital Management LLC owned about 2.97% of Verso worth $34,588,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Sei Investments Co. increased its holdings in Verso by 131.9% in the 2nd quarter. Sei Investments Co. now owns 25,525 shares of the basic materials company’s stock valued at $556,000 after purchasing an additional 14,520 shares during the last quarter. Virginia Retirement Systems ET AL acquired a new stake in Verso in the 3rd quarter valued at approximately $455,000. First Quadrant L P CA acquired a new stake in Verso in the 3rd quarter valued at approximately $440,000. Panagora Asset Management Inc. increased its holdings in Verso by 49.6% in the 3rd quarter. Panagora Asset Management Inc. now owns 353,319 shares of the basic materials company’s stock valued at $11,896,000 after purchasing an additional 117,156 shares during the last quarter. Finally, Macquarie Group Ltd. increased its holdings in Verso by 7.0% in the 2nd quarter. Macquarie Group Ltd. now owns 42,600 shares of the basic materials company’s stock valued at $927,000 after purchasing an additional 2,800 shares during the last quarter. 85.76% of the stock is currently owned by institutional investors and hedge funds.
In other news, CFO Allen James Campbell bought 1,000 shares of the stock in a transaction that occurred on Tuesday, November 13th. The stock was purchased at an average price of $27.00 per share, for a total transaction of $27,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.45% of the company’s stock.
Several analysts recently weighed in on the stock. ValuEngine upgraded shares of Verso from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. BWS Financial boosted their price target on shares of Verso to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 8th. Finally, B. Riley boosted their price target on shares of Verso from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, November 8th.
Shares of NYSE:VRS traded up $0.22 during trading on Friday, hitting $25.54. The company’s stock had a trading volume of 326,152 shares, compared to its average volume of 329,706. The company has a quick ratio of 0.82, a current ratio of 1.96 and a debt-to-equity ratio of 0.13. The company has a market cap of $858.30 million, a price-to-earnings ratio of -34.05 and a beta of 1.97. Verso Corp has a fifty-two week low of $13.84 and a fifty-two week high of $34.60.
Verso (NYSE:VRS) last issued its earnings results on Wednesday, November 7th. The basic materials company reported $1.63 EPS for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.10). The firm had revenue of $704.00 million for the quarter, compared to analyst estimates of $714.15 million. Verso had a return on equity of 17.33% and a net margin of 4.61%. On average, analysts expect that Verso Corp will post 3.53 EPS for the current year.
Verso Company Profile
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, inkjet and digital, supercalendered, and uncoated freesheet papers; and northern bleached hardwood Kraft pulp to manufacture printing, writing, and specialty paper grades, as well as to manufacture tissue products.
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