BlueCrest Capital Management Ltd Takes Position in Verso Corporation (VRS)

BlueCrest Capital Management Ltd purchased a new stake in Verso Corporation (NYSE:VRS) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 24,462 shares of the basic materials company’s stock, valued at approximately $147,000. BlueCrest Capital Management Ltd owned approximately 0.07% of Verso Corporation as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Verso Corporation by 8.0% in the first quarter. Vanguard Group Inc. now owns 1,207,277 shares of the basic materials company’s stock valued at $7,244,000 after buying an additional 89,588 shares in the last quarter. Aegis Financial Corp increased its position in Verso Corporation by 0.4% in the first quarter. Aegis Financial Corp now owns 657,957 shares of the basic materials company’s stock valued at $3,948,000 after buying an additional 2,724 shares in the last quarter. Dialectic Capital Management LP increased its position in Verso Corporation by 37.8% in the first quarter. Dialectic Capital Management LP now owns 434,000 shares of the basic materials company’s stock valued at $2,604,000 after buying an additional 119,000 shares during the period. Russell Investments Group Ltd. increased its position in Verso Corporation by 36.9% in the first quarter. Russell Investments Group Ltd. now owns 272,197 shares of the basic materials company’s stock valued at $1,632,000 after buying an additional 73,378 shares during the period. Finally, Geode Capital Management LLC increased its position in Verso Corporation by 11.6% in the first quarter. Geode Capital Management LLC now owns 187,526 shares of the basic materials company’s stock valued at $1,125,000 after buying an additional 19,430 shares during the period. 58.64% of the stock is currently owned by hedge funds and other institutional investors.

Verso Corporation (NYSE:VRS) traded down 2.24% during mid-day trading on Friday, reaching $4.81. 158,789 shares of the company’s stock were exchanged. Verso Corporation has a one year low of $3.17 and a one year high of $12.00. The stock has a 50-day moving average of $3.99 and a 200-day moving average of $6.06. The stock has a market cap of $165.42 million and a price-to-earnings ratio of 3.13.

Verso Corporation (NYSE:VRS) last issued its quarterly earnings results on Thursday, May 18th. The basic materials company reported ($0.61) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.61). The firm had revenue of $616 million during the quarter, compared to analyst estimates of $615.50 million. Verso Corporation had a return on equity of 581.15% and a net margin of 47.25%. On average, equities research analysts anticipate that Verso Corporation will post ($0.71) earnings per share for the current year.

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A number of brokerages have issued reports on VRS. B. Riley reiterated a “buy” rating and set a $11.25 price objective on shares of Verso Corporation in a research note on Wednesday, May 3rd. ValuEngine cut shares of Verso Corporation from a “buy” rating to a “hold” rating in a report on Thursday, May 18th. Finally, Zacks Investment Research cut shares of Verso Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, March 22nd.

Verso Corporation Company Profile

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.

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

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