Skillsoft (NYSE:SKIL) Announces Earnings Results, Beats Estimates By $0.34 EPS

Skillsoft (NYSE:SKIL) issued its quarterly earnings data on Wednesday. The company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.34, FiscalAI reports. 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 30.00% and a negative return on equity of 221.25%.

Skillsoft Stock Down 5.0%

Shares of NYSE:SKIL traded down $0.33 during trading on Wednesday, reaching $6.34. 107,214 shares of the company traded hands, compared to its average volume of 145,936. The firm has a market capitalization of $56.82 million, a PE ratio of -0.38, a PEG ratio of 0.23 and a beta of 2.22. Skillsoft has a 52 week low of $3.43 and a 52 week high of $18.45. The company’s 50 day moving average is $7.34 and its two-hundred day moving average is $6.35.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Skillsoft from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce”.

Insider Activity at Skillsoft

In related news, Director Jim Frankola purchased 27,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were bought at an average price of $6.05 per share, for a total transaction of $163,350.00. Following the completion of the transaction, the director owned 95,306 shares of the company’s stock, valued at approximately $576,601.30. This trade represents a 39.53% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 16.20% of the company’s stock.

Institutional Investors Weigh In On Skillsoft

A number of large investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Skillsoft in the 2nd quarter valued at approximately $39,000. Bank of America Corp DE increased its stake in Skillsoft by 330.0% in the fourth quarter. Bank of America Corp DE now owns 1,750 shares of the company’s stock valued at $42,000 after acquiring an additional 1,343 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Skillsoft by 330.2% during the fourth quarter. Public Employees Retirement System of Ohio now owns 6,130 shares of the company’s stock valued at $57,000 after purchasing an additional 4,705 shares in the last quarter. NewEdge Advisors LLC raised its position in Skillsoft by 374.2% during the fourth quarter. NewEdge Advisors LLC now owns 7,331 shares of the company’s stock valued at $68,000 after purchasing an additional 5,785 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Skillsoft by 116.2% during the fourth quarter. Wells Fargo & Company MN now owns 7,393 shares of the company’s stock worth $69,000 after purchasing an additional 3,974 shares during the last quarter. 87.00% of the stock is currently owned by institutional investors and hedge funds.

Skillsoft Company Profile

Skillsoft (NYSE: SKIL) is a leading provider of corporate digital learning solutions designed to help organizations develop skills and drive performance. The company offers a range of cloud-based learning platforms and content libraries that cover technical training, leadership development, compliance, and productivity applications. Skillsoft’s flagship platform, Percipio, delivers micro-learning modules, video tutorials, books and audiobooks, hands-on labs and simulations, and practice assessments within a unified interface that can be accessed on desktop or mobile devices.

Skillsoft’s content spans IT certification preparation, software development, cloud computing, cybersecurity, project management, and a variety of professional skills such as communication, management and sales.