Russell Investments Group Ltd. Buys 73,378 Shares of Verso Corporation (VRS)

Russell Investments Group Ltd. raised its stake in Verso Corporation (NYSE:VRS) by 36.9% during the first quarter, Holdings Channel reports. The fund owned 272,197 shares of the basic materials company’s stock after buying an additional 73,378 shares during the period. Russell Investments Group Ltd.’s holdings in Verso Corporation were worth $1,632,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in VRS. Dynamic Technology Lab Private Ltd acquired a new position in shares of Verso Corporation during the fourth quarter valued at approximately $441,000. Rotation Capital Management LP acquired a new position in shares of Verso Corporation during the fourth quarter valued at approximately $710,000. Finally, Acadian Asset Management LLC acquired a new position in shares of Verso Corporation during the first quarter valued at approximately $320,000. 58.64% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Verso Corporation (NYSE:VRS)

Verso Corporation (NYSE:VRS) opened at 3.80 on Tuesday. The stock has a 50 day moving average price of $4.34 and a 200 day moving average price of $6.17. Verso Corporation has a one year low of $3.17 and a one year high of $13.60. The firm has a market capitalization of $130.68 million and a P/E ratio of 2.47.

Verso Corporation (NYSE:VRS) last announced its quarterly earnings data on Thursday, May 18th. The basic materials company reported ($0.61) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.61). The business had revenue of $616 million for the quarter, compared to analysts’ expectations of $615.50 million. Verso Corporation had a net margin of 47.25% and a return on equity of 581.15%. On average, equities analysts predict that Verso Corporation will post ($0.71) EPS for the current fiscal year.

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VRS has been the topic of several recent analyst reports. Zacks Investment Research raised Verso Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, March 14th. B. Riley initiated coverage on Verso Corporation in a report on Thursday, April 27th. They issued a “buy” rating and a $11.25 target price on the stock. Finally, ValuEngine downgraded Verso Corporation from a “buy” rating to a “hold” rating in a report on Thursday, May 18th.

About Verso Corporation

Verso Corporation is a producer of coated papers, which are used in magazines, catalogs, advertising brochures and annual reports, among other media and marketing publications. The Company operates through two segments: paper and pulp. The Paper segment includes paper products, which are used in media and marketing applications, including catalogs, magazines, and commercial printing applications, such as advertising brochures, annual reports and direct-mail advertising.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “VRS”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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