Versigent (NYSE:VGNT) Director Kevin Clark Sells 49,517 Shares of Company Stock

Versigent (NYSE:VGNT) Director Kevin Clark sold 49,517 shares of the business’s stock in a transaction that occurred on Wednesday, October 7th. The shares were sold at an average price of $45.00, for a total value of $2,228,265.00. Following the transaction, the director owned 75,332 shares of the company’s stock, valued at approximately $3,389,940. This trade represents a 39.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Versigent Stock Performance

VGNT traded up $0.15 during trading on Friday, reaching $44.31. 543,823 shares of the company traded hands, compared to its average volume of 1,622,576. The stock has a market capitalization of $3.14 billion and a P/E ratio of 23.08. The company has a current ratio of 1.40, a quick ratio of 1.09 and a debt-to-equity ratio of 7.29. Versigent has a 12-month low of $26.34 and a 12-month high of $50.88. The business’s fifty day simple moving average is $46.31.

Versigent (NYSE:VGNT) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.34. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.29 billion. As a group, sell-side analysts expect that Versigent will post 7.23 earnings per share for the current fiscal year.

Versigent Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, September 4th.

Analyst Ratings Changes

Several equities analysts have commented on VGNT shares. The Goldman Sachs Group dropped their price objective on shares of Versigent from $59.00 to $58.00 and set a “buy” rating for the company in a research note on Tuesday. Fox Advisors cut shares of Versigent from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, August 5th. Weiss Ratings started coverage on shares of Versigent in a report on Wednesday, August 5th. They issued a “hold (c)” rating for the company. TD Cowen lifted their price target on Versigent from $49.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Finally, Oppenheimer set a $50.00 price objective on Versigent in a research note on Tuesday, July 21st. Eleven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $53.92.

Hedge Funds Weigh In On Versigent

Several hedge funds have recently added to or reduced their stakes in VGNT. Allianz Asset Management GmbH bought a new stake in Versigent in the second quarter worth about $20,602,000. HBK Investments L P purchased a new stake in shares of Versigent in the second quarter worth approximately $14,439,000. Steamboat Capital Partners LLC bought a new stake in shares of Versigent during the 2nd quarter worth approximately $10,385,000. WINTON GROUP Ltd purchased a new position in Versigent during the 2nd quarter valued at $8,397,000. Finally, Nan Shan Life Insurance Co. Ltd. purchased a new position in Versigent during the 2nd quarter valued at $5,400,000.

About Versigent

Versigent PLC is involved in the design, manufacturing and delivery of low and high voltage power electrical architectures. Versigent PLC is based in SCHAFFHAUSEN, Switzerland.