Verso Co. (NYSE:VRS) major shareholder Mudrick Capital Management, L. sold 798,849 shares of the company’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $16.74, for a total value of $13,372,732.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Mudrick Capital Management, L. also recently made the following trade(s):

  • On Wednesday, January 3rd, Mudrick Capital Management, L. sold 312,746 shares of Verso stock. The shares were sold at an average price of $16.63, for a total value of $5,200,965.98.

Shares of Verso Co. (NYSE VRS) opened at $16.63 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.15 and a quick ratio of 0.80. Verso Co. has a 12-month low of $3.17 and a 12-month high of $17.80. The firm has a market capitalization of $566.85 and a P/E ratio of -9.90.

Several brokerages have weighed in on VRS. B. Riley boosted their price objective on Verso from $11.25 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, December 20th. ValuEngine upgraded Verso from a “sell” rating to a “hold” rating in a research report on Sunday, December 31st. Zacks Investment Research downgraded Verso from a “buy” rating to a “hold” rating in a research report on Thursday, November 23rd. Finally, BWS Financial boosted their price objective on Verso from $15.00 to $20.00 and gave the company a “strong-buy” rating in a research report on Friday, November 17th.

A number of hedge funds have recently made changes to their positions in the business. California Public Employees Retirement System lifted its position in Verso by 309.5% in the third quarter. California Public Employees Retirement System now owns 98,700 shares of the basic materials company’s stock valued at $502,000 after purchasing an additional 74,600 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Verso by 88.2% in the third quarter. Dimensional Fund Advisors LP now owns 415,309 shares of the basic materials company’s stock valued at $2,114,000 after purchasing an additional 194,634 shares during the last quarter. Wells Fargo & Company MN bought a new stake in Verso in the third quarter valued at approximately $130,000. Rhumbline Advisers lifted its position in Verso by 33.2% in the third quarter. Rhumbline Advisers now owns 47,259 shares of the basic materials company’s stock valued at $241,000 after purchasing an additional 11,790 shares during the last quarter. Finally, Strs Ohio raised its holdings in shares of Verso by 25.6% during the third quarter. Strs Ohio now owns 112,000 shares of the basic materials company’s stock valued at $570,000 after acquiring an additional 22,800 shares in the last quarter. Hedge funds and other institutional investors own 53.22% of the company’s stock.

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About Verso

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.

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