Archer Capital Management L.P. reduced its position in shares of Verso Co. (NYSE:VRS) by 69.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 238,220 shares of the basic materials company’s stock after selling 532,252 shares during the period. Verso makes up approximately 1.6% of Archer Capital Management L.P.’s investment portfolio, making the stock its 14th biggest position. Archer Capital Management L.P. owned 0.69% of Verso worth $4,186,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Cornerstone Capital Management Holdings LLC. acquired a new position in Verso during the fourth quarter valued at approximately $787,000. TIAA CREF Investment Management LLC raised its position in Verso by 114.6% during the fourth quarter. TIAA CREF Investment Management LLC now owns 194,297 shares of the basic materials company’s stock valued at $3,414,000 after purchasing an additional 103,770 shares in the last quarter. Teachers Advisors LLC raised its position in Verso by 6.2% during the fourth quarter. Teachers Advisors LLC now owns 71,734 shares of the basic materials company’s stock valued at $1,260,000 after purchasing an additional 4,165 shares in the last quarter. Two Sigma Investments LP raised its position in Verso by 1,999.4% during the fourth quarter. Two Sigma Investments LP now owns 472,364 shares of the basic materials company’s stock valued at $8,299,000 after purchasing an additional 449,864 shares in the last quarter. Finally, Two Sigma Advisers LP acquired a new position in Verso during the fourth quarter valued at approximately $7,703,000. Institutional investors and hedge funds own 82.22% of the company’s stock.
Several brokerages have recently issued reports on VRS. Zacks Investment Research downgraded shares of Verso from a “hold” rating to a “sell” rating in a report on Wednesday, February 21st. ValuEngine upgraded shares of Verso from a “sell” rating to a “hold” rating in a report on Sunday, December 31st. B. Riley set a $24.00 price target on shares of Verso and gave the stock a “buy” rating in a report on Friday, March 9th. Finally, BWS Financial upped their price target on shares of Verso to $30.00 and gave the stock a “buy” rating in a report on Friday, March 9th.
Verso Co. (NYSE:VRS) opened at $17.17 on Wednesday. The stock has a market cap of $590.55 and a price-to-earnings ratio of -19.74. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.63 and a current ratio of 2.15. Verso Co. has a 1-year low of $3.17 and a 1-year high of $19.32.
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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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