Goldman Sachs Group Inc. Boosts Position in Verso Corporation (VRS)
Goldman Sachs Group Inc. boosted its stake in shares of Verso Corporation (NYSE:VRS) by 55.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 331,203 shares of the basic materials company’s stock after buying an additional 118,104 shares during the period. Goldman Sachs Group Inc.’s holdings in Verso Corporation were worth $1,987,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC purchased a new position in Verso Corporation during the first quarter valued at $320,000. BlueCrest Capital Management Ltd purchased a new position in Verso Corporation during the first quarter valued at $147,000. Russell Investments Group Ltd. increased its position in Verso Corporation by 36.9% in the first quarter. Russell Investments Group Ltd. now owns 272,197 shares of the basic materials company’s stock valued at $1,632,000 after buying an additional 73,378 shares in the last quarter. Aegis Financial Corp increased its position in Verso Corporation by 0.4% in the first quarter. Aegis Financial Corp now owns 657,957 shares of the basic materials company’s stock valued at $3,948,000 after buying an additional 2,724 shares in the last quarter. Finally, Dialectic Capital Management LP increased its position in Verso Corporation by 37.8% in the first quarter. Dialectic Capital Management LP now owns 434,000 shares of the basic materials company’s stock valued at $2,604,000 after buying an additional 119,000 shares in the last quarter. 57.67% of the stock is owned by institutional investors.
Verso Corporation (VRS) traded up 1.05% during trading on Friday, reaching $4.80. The company’s stock had a trading volume of 167,829 shares. The company has a market capitalization of $165.07 million and a P/E ratio of 3.12. The company’s 50-day moving average is $4.52 and its 200-day moving average is $5.74. Verso Corporation has a 1-year low of $3.17 and a 1-year high of $11.40.
Verso Corporation (NYSE:VRS) last released its quarterly earnings data on Thursday, May 18th. The basic materials company reported ($0.61) EPS for the quarter, hitting analysts’ consensus estimates of ($0.61). The company had revenue of $616 million for the quarter, compared to the consensus estimate of $615.50 million. Verso Corporation had a return on equity of 581.15% and a net margin of 47.25%. Equities analysts anticipate that Verso Corporation will post ($0.71) EPS for the current year.
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VRS has been the subject of several research reports. Zacks Investment Research raised Verso Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, July 25th. ValuEngine downgraded Verso Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, May 18th. Finally, B. Riley reaffirmed a “buy” rating and issued a $11.25 target price on shares of Verso Corporation in a research report on Wednesday, May 3rd.
Verso Corporation 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.
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