Skillsoft (NYSE:SKIL) Stock: Insider Ronald Hovsepian Purchases 11,196 Shares

Skillsoft Corp. (NYSE:SKIL) CEO Ronald Hovsepian acquired 11,196 shares of the stock in a transaction dated Wednesday, September 23rd. The shares were purchased at an average price of $5.93 per share, for a total transaction of $66,392.28. Following the completion of the transaction, the chief executive officer owned 382,267 shares of the company’s stock, valued at $2,266,843.31. This trade represents a 3.02% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Skillsoft Stock Down 2.5%

NYSE:SKIL traded down $0.15 on Friday, reaching $5.96. The stock had a trading volume of 24,614 shares, compared to its average volume of 145,269. The stock has a fifty day moving average price of $6.99 and a 200-day moving average price of $6.46. Skillsoft Corp. has a 1-year low of $3.43 and a 1-year high of $18.45. The company has a market capitalization of $54.28 million, a P/E ratio of -0.32, a price-to-earnings-growth ratio of 0.19 and a beta of 2.22.

Skillsoft (NYSE:SKIL) last announced its quarterly earnings data on Wednesday, September 9th. The company reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.34. The firm had revenue of $98.25 million for the quarter, compared to analyst estimates of $99.00 million. Skillsoft had a negative return on equity of 74.19% and a negative net margin of 36.13%. Sell-side analysts predict that Skillsoft Corp. will post 3.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SKIL. Squarepoint Ops LLC bought a new position in shares of Skillsoft in the 2nd quarter worth about $98,000. Renaissance Technologies LLC increased its holdings in shares of Skillsoft by 11.1% during the first quarter. Renaissance Technologies LLC now owns 61,009 shares of the company’s stock valued at $262,000 after acquiring an additional 6,100 shares in the last quarter. 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 worth $67,000 after purchasing an additional 2,985 shares during the period. 87.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Skillsoft Company Profile

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.