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

Skillsoft (NYSE:SKIL) announced its quarterly earnings results on Wednesday. The company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.34, FiscalAI reports. Skillsoft had a negative net margin of 30.00% and a negative return on equity of 221.25%. The business had revenue of $98.25 million during the quarter, compared to the consensus estimate of $99.00 million.

Skillsoft Trading Down 5.0%

Shares of NYSE:SKIL traded down $0.33 during midday trading on Wednesday, hitting $6.34. 109,761 shares of the stock were exchanged, compared to its average volume of 145,997. Skillsoft has a twelve month low of $3.43 and a twelve month high of $18.45. The company has a 50 day moving average price of $7.34 and a 200-day moving average price of $6.35. The stock has a market cap of $56.82 million, a P/E ratio of -0.38, a PEG ratio of 0.23 and a beta of 2.22.

Insider Buying and Selling

In other Skillsoft news, Director Jim Frankola acquired 27,000 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were purchased at an average cost of $6.05 per share, with a total value of $163,350.00. Following the purchase, the director owned 95,306 shares in the company, valued at approximately $576,601.30. The trade was a 39.53% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 16.20% of the company’s stock.

Hedge Funds Weigh In On Skillsoft

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC lifted its holdings in shares of Skillsoft by 374.2% in 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. XTX Topco Ltd purchased a new position in shares of Skillsoft during the 4th quarter worth approximately $100,000. Engineers Gate Manager LP acquired a new position in shares of Skillsoft during the 4th quarter worth approximately $125,000. Jump Financial LLC acquired a new position in shares of Skillsoft during the 4th quarter worth approximately $97,000. Finally, Public Employees Retirement System of Ohio lifted its stake in Skillsoft by 330.2% in the 4th quarter. Public Employees Retirement System of Ohio now owns 6,130 shares of the company’s stock valued at $57,000 after buying an additional 4,705 shares in the last quarter. Institutional investors and hedge funds own 87.00% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Skillsoft from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce”.

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.