Archer Capital Management L.P. Sells 532,252 Shares of Verso Co. (VRS)
Archer Capital Management L.P. trimmed its stake in Verso Co. (NYSE:VRS) by 69.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 238,220 shares of the basic materials company’s stock after selling 532,252 shares during the period. Verso accounts for about 1.6% of Archer Capital Management L.P.’s investment portfolio, making the stock its 14th largest holding. Archer Capital Management L.P.’s holdings in Verso were worth $4,186,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Stone Ridge Asset Management LLC acquired a new stake in Verso in the fourth quarter valued at $242,000. Ellington Management Group LLC acquired a new stake in Verso in the fourth quarter valued at $367,000. Voya Investment Management LLC acquired a new stake in Verso in the second quarter valued at $104,000. Wells Fargo & Company MN acquired a new stake in Verso in the third quarter valued at $130,000. Finally, Virtu Financial LLC acquired a new stake in Verso in the fourth quarter valued at $438,000. Institutional investors and hedge funds own 82.22% of the company’s stock.
Shares of Verso Co. (VRS) opened at $17.17 on Wednesday. The company has a current ratio of 2.15, a quick ratio of 0.63 and a debt-to-equity ratio of 0.35. The company has a market cap of $590.55 and a price-to-earnings ratio of -19.74. Verso Co. has a 1 year low of $3.17 and a 1 year high of $19.32.
In other Verso news, major shareholder Mudrick Capital Management, L. sold 312,746 shares of the company’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $16.63, for a total transaction of $5,200,965.98. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have sold 1,894,168 shares of company stock worth $32,029,340 in the last ninety days. Insiders own 4.20% of the company’s stock.
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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