Skillsoft (NYSE:SKIL) Announces Quarterly Earnings Results, Beats Expectations By $0.34 EPS

Key Points

• Skillsoft beat earnings expectations: The company reported quarterly EPS of $1.17, $0.34 above the $0.83 consensus estimate. Revenue was $98.25 million, slightly below analysts’ $99 million forecast.
• Shares declined after the results: Skillsoft stock fell $0.33 to $6.34 in midday trading, with the company carrying a negative net margin of 30% and negative return on equity of 221.25%.
• Investor sentiment remains cautious: A director bought 27,000 shares, while institutions own 87% of the stock. Analysts maintain an average “Reduce” rating, with one Hold and one Sell rating.

Skillsoft (NYSE:SKIL - Get Free Report) released its earnings results on Wednesday. The company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.34, FiscalAI reports. The business had revenue of $98.25 million for the quarter, compared to analyst estimates of $99.00 million. Skillsoft had a negative return on equity of 221.25% and a negative net margin of 30.00%.

Skillsoft Stock Performance

Skillsoft stock traded down $0.33 during midday trading on Wednesday, reaching $6.34. 107,214 shares of the company's stock were exchanged, compared to its average volume of 145,936. The stock's 50-day simple moving average is $7.34 and its 200 day simple moving average is $6.35. The firm has a market cap of $56.82 million, a price-to-earnings ratio of -0.38, a P/E/G ratio of 0.23 and a beta of 2.22. Skillsoft has a 52 week low of $3.43 and a 52 week high of $18.45.

Insiders Place Their Bets

In other Skillsoft news, Director Jim Frankola purchased 27,000 shares of the company's stock in a transaction that occurred on Monday, June 15th. The shares were acquired at an average price of $6.05 per share, for a total transaction 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 acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 16.20% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SKIL. Goldman Sachs Group Inc. boosted its holdings in shares of Skillsoft by 133.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 304,966 shares of the company's stock worth $2,836,000 after acquiring an additional 174,429 shares during the period. Geode Capital Management LLC lifted its holdings in Skillsoft by 114.6% during the 2nd quarter. Geode Capital Management LLC now owns 102,715 shares of the company's stock worth $1,641,000 after purchasing an additional 54,853 shares during the last quarter. Cruiser Capital Advisors LLC lifted its holdings in Skillsoft by 177.7% during the 4th quarter. Cruiser Capital Advisors LLC now owns 57,794 shares of the company's stock worth $537,000 after purchasing an additional 36,981 shares during the last quarter. Acadian Asset Management LLC boosted its stake in Skillsoft by 286.0% in the 1st quarter. Acadian Asset Management LLC now owns 40,374 shares of the company's stock valued at $774,000 after purchasing an additional 29,914 shares during the period. Finally, Nuveen LLC bought a new stake in Skillsoft in the 4th quarter valued at $171,000. 87.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Skillsoft from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Skillsoft currently has an average rating of "Reduce".

About Skillsoft

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.