Acadian Asset Management LLC boosted its stake in shares of Verso Corp (NYSE:VRS) by 8.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,291,529 shares of the basic materials company’s stock after acquiring an additional 97,299 shares during the period. Acadian Asset Management LLC owned about 3.74% of Verso worth $28,930,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Verso by 53.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,106 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 737 shares during the period. Meeder Asset Management Inc. grew its holdings in shares of Verso by 191.8% in the fourth quarter. Meeder Asset Management Inc. now owns 2,197 shares of the basic materials company’s stock valued at $49,000 after purchasing an additional 1,444 shares during the period. Paradigm Asset Management Co. LLC purchased a new stake in shares of Verso in the third quarter valued at about $71,000. One Wealth Advisors LLC purchased a new stake in shares of Verso in the third quarter valued at about $132,000. Finally, Federated Investors Inc. PA grew its holdings in shares of Verso by 92.7% in the third quarter. Federated Investors Inc. PA now owns 4,591 shares of the basic materials company’s stock valued at $155,000 after purchasing an additional 2,209 shares during the period. Institutional investors own 92.45% of the company’s stock.
Verso stock traded up $0.10 during mid-day trading on Friday, hitting $19.60. The company had a trading volume of 536,104 shares, compared to its average volume of 319,412. The firm has a market capitalization of $675.89 million, a P/E ratio of 5.31 and a beta of 1.56. Verso Corp has a 1 year low of $15.21 and a 1 year high of $34.60.
Several brokerages have recently issued reports on VRS. TheStreet cut shares of Verso from a “b-” rating to a “c” rating in a research report on Tuesday, January 22nd. Zacks Investment Research cut shares of Verso from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 6th. B. Riley reaffirmed a “buy” rating and issued a $47.00 target price on shares of Verso in a report on Tuesday, February 26th. Finally, ValuEngine raised shares of Verso from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $40.33.
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.
Further Reading: Quiet Period
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