Prudential Financial Inc. grew its holdings in shares of Verso Corp (NYSE:VRS) by 229.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 143,285 shares of the basic materials company’s stock after purchasing an additional 99,815 shares during the quarter. Prudential Financial Inc. owned about 0.41% of Verso worth $3,210,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Paradigm Asset Management Co. LLC bought a new position in Verso in the 3rd quarter worth $71,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Verso by 53.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,106 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 737 shares during the period. Meeder Asset Management Inc. raised its holdings in Verso by 191.8% in the 4th quarter. Meeder Asset Management Inc. now owns 2,197 shares of the basic materials company’s stock worth $49,000 after acquiring an additional 1,444 shares during the period. One Wealth Advisors LLC bought a new position in Verso in the 3rd quarter worth $132,000. Finally, Federated Investors Inc. PA raised its holdings in Verso by 92.7% in the 3rd quarter. Federated Investors Inc. PA now owns 4,591 shares of the basic materials company’s stock worth $155,000 after acquiring an additional 2,209 shares during the period. Institutional investors and hedge funds own 92.45% of the company’s stock.

NYSE VRS opened at $19.60 on Friday. The firm has a market capitalization of $672.44 million, a price-to-earnings ratio of 5.31 and a beta of 1.56. Verso Corp has a 52-week low of $15.21 and a 52-week high of $34.60.

Several research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Verso from a “strong-buy” rating to a “hold” rating in a report on Saturday, January 12th. TheStreet downgraded shares of Verso from a “b-” rating to a “c” rating in a report on Tuesday, January 22nd. B. Riley reiterated a “buy” rating and issued a $47.00 target price on shares of Verso in a report on Tuesday, February 26th. Finally, ValuEngine upgraded shares of Verso from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. Verso has a consensus rating of “Hold” and an average price target of $40.33.

ILLEGAL ACTIVITY WARNING: “Prudential Financial Inc. Acquires 99,815 Shares of Verso Corp (VRS)” was published by Daily Political and is the sole property of of Daily Political. If you are accessing this story on another domain, it was illegally stolen and republished in violation of US and international copyright & trademark law. The original version of this story can be accessed at https://www.dailypolitical.com/2019/03/16/prudential-financial-inc-acquires-99815-shares-of-verso-corp-vrs.html.

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.

Read More: Technical Analysis

Want to see what other hedge funds are holding VRS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verso Corp (NYSE:VRS).

Institutional Ownership by Quarter for Verso (NYSE:VRS)

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.