Zacks Investment Research lowered shares of Verso (NYSE:VRS) from a strong-buy rating to a hold rating in a report issued on Friday.
According to Zacks, “Verso Corporation is engaged in the paper industry. The Company produces coated freesheet, coated ground wood and uncoated super calendered papers and pulp. It serves to magazine and catalog publishers, commercial printers, specialty retail merchandisers and paper merchants. The company operates primarily in Kentucky, Maine, Maryland, Michigan, Minnesota and Wisconsin. Verso Corporation is based in Memphis, United States. “
Several other research analysts have also commented on the stock. B. Riley raised their price target on shares of Verso from $11.25 to $20.00 and gave the company a buy rating in a report on Wednesday, December 20th. ValuEngine upgraded shares of Verso from a sell rating to a hold rating in a report on Sunday, December 31st. Finally, BWS Financial set a $20.00 price target on shares of Verso and gave the company a buy rating in a report on Thursday, January 18th.
In other Verso news, major shareholder Mudrick Capital Management, L. sold 60,000 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $17.15, for a total value of $1,029,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 607,573 shares of company stock valued at $10,520,392 in the last ninety days. 4.20% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of VRS. Acadian Asset Management LLC acquired a new stake in Verso in the fourth quarter valued at approximately $8,377,000. Skylands Capital LLC acquired a new stake in Verso in the fourth quarter valued at approximately $8,282,000. Thrivent Financial For Lutherans acquired a new stake in Verso in the fourth quarter valued at approximately $8,028,000. Two Sigma Investments LP grew its position in Verso by 1,999.4% in the fourth quarter. Two Sigma Investments LP now owns 472,364 shares of the basic materials company’s stock valued at $8,299,000 after acquiring an additional 449,864 shares in the last quarter. Finally, Two Sigma Advisers LP acquired a new stake in shares of Verso during the fourth quarter worth approximately $7,703,000. 82.22% of the stock is owned by institutional investors.
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.
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