Insider Selling: Verso Co. (VRS) Major Shareholder Sells 798,849 Shares of Stock

Verso Co. (NYSE:VRS) major shareholder Mudrick Capital Management, L. sold 798,849 shares of the company’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $16.74, for a total transaction of $13,372,732.26. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

  • 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.

Shares of Verso Co. (NYSE:VRS) traded down $0.31 during mid-day trading on Friday, hitting $16.63. The stock had a trading volume of 700,344 shares, compared to its average volume of 1,222,825. The company has a current ratio of 2.15, a quick ratio of 0.80 and a debt-to-equity ratio of 0.35. The company has a market cap of $577.42 and a PE ratio of -10.08. Verso Co. has a one year low of $3.17 and a one year high of $17.80.

A number of research firms have issued reports on VRS. ValuEngine upgraded shares of Verso from a “sell” rating to a “hold” rating in a research report on Sunday, December 31st. B. Riley upped their target price on shares of Verso from $11.25 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, December 20th. Zacks Investment Research downgraded shares of Verso from a “buy” rating to a “hold” rating in a research report on Thursday, November 23rd. Finally, BWS Financial upped their target price on shares of Verso from $15.00 to $20.00 and gave the company a “strong-buy” rating in a research report on Friday, November 17th.

Several hedge funds have recently made changes to their positions in VRS. Donald Smith & CO. Inc. increased its stake in shares of Verso by 34.2% in the 2nd quarter. Donald Smith & CO. Inc. now owns 2,061,732 shares of the basic materials company’s stock valued at $9,670,000 after acquiring an additional 524,849 shares during the last quarter. B. Riley Financial Inc. bought a new stake in shares of Verso in the 2nd quarter valued at about $1,853,000. State Street Corp increased its stake in shares of Verso by 1,555.5% in the 2nd quarter. State Street Corp now owns 355,940 shares of the basic materials company’s stock valued at $1,671,000 after acquiring an additional 334,440 shares during the last quarter. Northern Trust Corp increased its stake in shares of Verso by 545.5% in the 2nd quarter. Northern Trust Corp now owns 347,240 shares of the basic materials company’s stock valued at $1,628,000 after acquiring an additional 293,450 shares during the last quarter. Finally, Wittenberg Investment Management Inc. bought a new stake in shares of Verso in the 2nd quarter valued at about $1,310,000. 53.22% of the stock is owned by institutional investors.

TRADEMARK VIOLATION NOTICE: This news story was originally published by American Banking News and is the sole property of of American Banking News. If you are reading this news story on another site, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright legislation. The legal version of this news story can be accessed at https://www.americanbankingnews.com/2018/01/05/insider-selling-verso-co-vrs-major-shareholder-sells-798849-shares-of-stock.html.

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.

Receive News & Ratings for Verso Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verso and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply