Perritt Capital Management Inc. Takes $762,000 Position in Verso Corp (NYSE:VRS)

Perritt Capital Management Inc. bought a new position in Verso Corp (NYSE:VRS) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 40,000 shares of the basic materials company’s stock, valued at approximately $762,000. Perritt Capital Management Inc. owned 0.12% of Verso at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP increased its holdings in shares of Verso by 13.4% during the fourth 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 in the last quarter. Wells Fargo & Company MN increased its stake in Verso by 51.8% during the 2nd quarter. Wells Fargo & Company MN now owns 697,807 shares of the basic materials company’s stock valued at $13,293,000 after purchasing an additional 238,193 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Verso by 13.8% during the 1st quarter. JPMorgan Chase & Co. now owns 1,101,088 shares of the basic materials company’s stock valued at $23,584,000 after purchasing an additional 133,370 shares in the last quarter. Donald Smith & CO. Inc. raised its holdings in Verso by 136.1% in the first quarter. Donald Smith & CO. Inc. now owns 225,851 shares of the basic materials company’s stock worth $4,838,000 after buying an additional 130,200 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in Verso by 27.7% in the first quarter. Robeco Institutional Asset Management B.V. now owns 501,012 shares of the basic materials company’s stock worth $10,732,000 after buying an additional 108,813 shares during the last quarter. Institutional investors own 90.74% of the company’s stock.

A number of equities research analysts have recently commented on VRS shares. B. Riley cut their price target on shares of Verso from $26.00 to $17.50 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. ValuEngine cut Verso from a “hold” rating to a “sell” rating in a research report on Thursday, May 23rd. Finally, Zacks Investment Research downgraded Verso from a “buy” rating to a “hold” rating in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. Verso currently has a consensus rating of “Hold” and an average price target of $29.17.

NYSE VRS traded up $0.27 during trading hours on Wednesday, hitting $11.50. The company’s stock had a trading volume of 21,864 shares, compared to its average volume of 369,986. Verso Corp has a 12 month low of $9.61 and a 12 month high of $34.60. The company’s 50 day simple moving average is $12.36 and its two-hundred day simple moving average is $18.11. The company has a market cap of $387.21 million, a P/E ratio of 3.08 and a beta of 1.96. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.07 and a quick ratio of 0.63.

Verso (NYSE:VRS) last posted its earnings results on Thursday, August 8th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.86) by $1.98. The business had revenue of $602.00 million for the quarter, compared to analysts’ expectations of $632.30 million. Verso had a net margin of 3.64% and a return on equity of 18.97%. As a group, research analysts predict that Verso Corp will post 0.89 earnings per share for the current fiscal year.

Verso 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, 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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