Insider Buying: Skillsoft (NYSE:SKIL) CEO Acquires $16,603.47 in Stock

Skillsoft Corp. (NYSE:SKIL) CEO Ronald Hovsepian bought 2,691 shares of Skillsoft stock in a transaction that occurred on Thursday, September 17th. The stock was bought at an average price of $6.17 per share, with a total value of $16,603.47. Following the completion of the acquisition, the chief executive officer owned 349,969 shares in the company, valued at approximately $2,159,308.73. The trade was a 0.77% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Skillsoft Stock Up 0.1%

Shares of SKIL stock opened at $5.95 on Thursday. Skillsoft Corp. has a 12 month low of $3.43 and a 12 month high of $18.45. The company has a market cap of $54.11 million, a PE ratio of -0.32, a price-to-earnings-growth ratio of 0.19 and a beta of 2.22. The business’s 50 day moving average is $7.00 and its two-hundred day moving average is $6.45.

Skillsoft (NYSE:SKIL) last issued its quarterly earnings data on Wednesday, September 9th. The company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.34. The business had revenue of $98.25 million during the quarter, compared to analysts’ expectations of $99.00 million. Skillsoft had a negative net margin of 36.13% and a negative return on equity of 74.19%. As a group, equities analysts expect that Skillsoft Corp. will post 3.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Skillsoft

Institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC boosted its holdings in Skillsoft by 11.1% in the 1st quarter. Renaissance Technologies LLC now owns 61,009 shares of the company’s stock valued at $262,000 after purchasing an additional 6,100 shares during the period. Squarepoint Ops LLC bought a new position in shares of Skillsoft during the 2nd quarter worth about $98,000. Finally, Bank of New York Mellon Corp raised its position in shares of Skillsoft by 23.7% during the first quarter. Bank of New York Mellon Corp now owns 15,561 shares of the company’s stock valued at $67,000 after buying an additional 2,985 shares during the last quarter. Institutional investors own 87.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SKIL shares. Oppenheimer restated a “market perform” rating on shares of Skillsoft in a report on Thursday, September 10th. Weiss Ratings upgraded Skillsoft from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, August 5th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce”.

About Skillsoft

Skillsoft Corporation (NYSE: SKIL) is a provider of digital learning and talent-development solutions for businesses, government organizations and other institutions. The company offers online courses, learning paths, assessments and related tools designed to help organizations develop employee skills and support workforce transformation.

Its offerings cover areas such as leadership and business skills, technology and software development, cybersecurity, compliance, productivity and professional certifications.