Cambridge Investment Research Advisors Inc. Invests $629,000 in Verso Corp (NYSE:VRS) Stock

Cambridge Investment Research Advisors Inc. acquired a new position in Verso Corp (NYSE:VRS) during the 1st quarter, HoldingsChannel reports. The fund acquired 29,355 shares of the basic materials company’s stock, valued at approximately $629,000.

A number of other institutional investors also recently added to or reduced their stakes in VRS. SCW Capital Management LP acquired a new position in Verso in the 4th quarter valued at $26,602,000. Robeco Institutional Asset Management B.V. increased its position in shares of Verso by 920.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 392,199 shares of the basic materials company’s stock worth $8,760,000 after purchasing an additional 353,776 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Verso by 13.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,810,761 shares of the basic materials company’s stock valued at $62,961,000 after acquiring an additional 332,713 shares during the period. Bank of America Corp DE boosted its stake in shares of Verso by 873.8% in the 4th quarter. Bank of America Corp DE now owns 246,559 shares of the basic materials company’s stock valued at $5,522,000 after buying an additional 221,241 shares during the period. Finally, Millennium Management LLC boosted its stake in shares of Verso by 66.3% in the 4th quarter. Millennium Management LLC now owns 486,696 shares of the basic materials company’s stock valued at $10,902,000 after buying an additional 193,948 shares during the period. Institutional investors and hedge funds own 92.51% of the company’s stock.

A number of research analysts have recently issued reports on the company. B. Riley reissued a “buy” rating and issued a $47.00 target price on shares of Verso in a report on Tuesday, February 26th. Zacks Investment Research lowered Verso from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 6th. Finally, ValuEngine downgraded Verso from a “hold” rating to a “sell” rating in a report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $34.00.

Verso stock opened at $17.05 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.69 and a current ratio of 2.21. The stock has a market capitalization of $595.19 million, a PE ratio of 4.61 and a beta of 1.82. Verso Corp has a 52 week low of $16.55 and a 52 week high of $34.60.

Verso (NYSE:VRS) last released its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.68. Verso had a return on equity of 19.09% and a net margin of 7.79%. The company had revenue of $639.00 million for the quarter, compared to the consensus estimate of $632.26 million. Analysts anticipate that Verso Corp will post 2.85 EPS for the current year.

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About Verso

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, packaging, inkjet and digital, supercalendered, and uncoated freesheet papers; and bleached and unbleached market kraft pulp to manufacture printing, writing, and tissue products.

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Institutional Ownership by Quarter for Verso (NYSE:VRS)

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